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SEP IRA: What You Need to Know About This Retirement Plan Option

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Finding the right retirement plan for your business can take time and effort. One retirement plan option available to business owners and self-employed individuals is the SEP IRA, or the Simplified Employee Pension plan. It allows you to save for retirement based on your earned income. What is a SEP retirement plan?

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Rising Financial Stress Threatens Retirement Security for Many U.S. Workers

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A recent CNBC Your Money Survey has shed light on a growing concern among Americans: rising financial stress and its direct impact on retirement savings. While a majority, or 57%, are still contributing to retirement plans, a significant portion of the U.S. The post Rising Financial Stress Threatens Retirement Security for Many U.S.

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The 4 Best Retirement Plans for Self-Employed Individuals to Consider

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Saving and planning for retirement as a self-employed person can be more difficult than for others. Company employees often have access to a 401(k) or other retirement savings account that lets them make automatic contributions pulled from every paycheck. How is a self-employed retirement plan different from a 401(k)?

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2023 Financial Forecast: How to Prepare for the Year Ahead

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Admittedly, that’s not much of a time difference, but then again, somehow it’s almost time to bring out the 2023 calendars. Although a trusty crystal ball may help you avoid any pitfalls, there are bound to be both good and bad surprises that await you in 2023. What does financial security look like in 2023?

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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

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As a freelancer, it’s essential to ensure you know what to expect, so you don’t accidentally wind up with a huge tax bill. So, keeping up with all of the new rules about standard deductions, tax credits and other requirements can make anyone’s head spin, especially if it affects how much you have to pay. Every dollar counts.

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The 8 Biggest Financial Mistakes to Avoid in Your 60s

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People in their 60s often face the decades in two parts: the run-up to retirement and retirement itself. Although retirement may have a date on the human resources calendar, it can—and perhaps should—involve years of transition. They’ve been in this accumulation mode of building up their assets,” she says.

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What is a SIMPLE IRA? Everything You Need to Know

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Most people are familiar with retirement savings plans, like a 401(k) or a Roth IRA. It’s an easy-to-manage retirement account that lets you make tax-deferred contributions. Keep reading to learn more about this retirement plan and how it stacks up against other options. What is the SIMPLE IRA contribution limit for 2023?