Listen Now When Congress creates a new tax-deferred account type, it’s easy to assume that it must be better than what already exists. That seems to be a bit of what’s happening with the new Trump Accounts, which is a new, tax-advantaged way to save for a child and...
One of the trickier decisions of saving for retirement is determining which accounts to prioritize with your savings. Is it most important to max out a 401(k) before an IRA? At what point should you use a taxable account for retirement savings? How does debt play into...
When I wrote Making Money Simple, my goal was to give people a blueprint for turning career success into financial success. People who experience success in their careers often dedicate years acquiring knowledge and honing their craft. But enjoying professional...
Time mixed with the power of compounding is the most potent combination for wealth creation. Compound interest allows you to grow wealth faster by earning a return on your past returns. This isn’t a linear relationship – it’s exponential. The human brain isn’t good at...
The most important rule in planning for retirement is to save early and often. How early and how often? Start as soon as you begin earning an income and save some of every paycheck. If you haven’t been saving, then the time to start is now. Saving early gives you what...
