article thumbnail

The 8 Biggest Financial Mistakes to Avoid in Your 60s

Success

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.

article thumbnail

What is a SIMPLE IRA? Everything You Need to Know

Success

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. A SIMPLE IRA is just one of these plans.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Smart Money Hacks to Help You Budget for the Holidays

Success

This is the last month in the calendar year you can donate to charities and deduct them from your taxes, so you can afford to be generous. Initially, throwing a party might not seem like a cost-saving measure. But when you factor in travel costs, it sometimes makes sense to bring the bash to you. Remember, it’s December.

Budget 328
article thumbnail

Can Couples Combine Their Finances and Stay Together?

Success

There isn’t a question of splitting an expense or one person earning more than the other since all income and costs go into or out of the same pot of money. Though asking about how the other grew up or what their dream retirement looks like can give you insight into general compatibility and how they handle their money.

Finance 264
article thumbnail

Business finance: The ultimate guide for non-finance people

BMT Office Administration

The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. However, to avoid confusion, most companies ensure that their fiscal year aligns with the current calendar year. Equity refers to the total value of a company’s assets minus the cost of its debts. What is a ROB? What’s that?

Finance 105
article thumbnail

The 2021 Productivityist Holiday Gift Guide

Productivityist

Members of TimeCrafting Trust get access to all of my courses (even retired ones), paid workshops, biweekly focused work sessions with me, and more. The NOW Year Calendar. The wall calendar I’ve developed with the NeuYear team is available once again in tall and wide sizes (I got the tall one this year).

Gifts 52
article thumbnail

1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Employers must send Copy A of Form W-2 to the Social Security Administration (SSA) to report the wages paid and taxes collected for their employees during the previous calendar year. Businesses also don’t need to provide benefits like health insurance, retirement plans, or workers’ compensation to 1099 staff.

Payroll 52