Retirement may seem a long way off for some of you. It sure feels that way to me sometimes, considering I’m 26 and the retirement age is estimated to be around 70 when I get to that point. Ouch. So why in the world should someone my age be thinking about retirement now? Well, in short, because if someone like me starts now, I’ll be in a much better position financially when it comes to the point of actually retiring. Today,...

Lately, I’ve been listening to this audio book called the “Automatic Millionaire” by David Bach, and let me tell you that it’s awesome. I recommend this audio book to everyone, it’s a great read/listen, whichever you prefer. So while I was listening to it, I noticed some cool things that I thought I wanted to share with you. When it comes down to it there are 6 approaches to wealth. Here they are. Win it. For...

Welcome to the 13th edition of the Carnival of Money Stories! This week we had a little over 30 great article submissions, however since majority of the submissions did not have a personal story or experience behind it, I had to omit most of it. Remember guys, Carnival of Money Stories is strictly dedicated to articles with some kind of personal story and/or experience involving finance so if your article did not have either or, then it was...

As many of you know, the importance of investing is crucial. Since investment is tied with time, it’s also obvious that the sooner you start your investment portfolio, the better and bigger your outcome. Today we’re going to look at the individual retirement account, or also known as the IRA. In short,  IRA is an personal, tax-advantaged retirement plan. An employed person can contribute earned income into an IRA account up to...

So my last post from yesterday covered the basic fundamentals of what a Traditional IRA was. Today I want to cover Roth IRA and just like last post I want to keep it sweet and simple. So lets get started. A Roth IRA’s main advantage is its tax structure. The contributions made to this account is only from earned income that has already been taxed, therefore it is not tax deductible. The total contribution for all IRA’s are...

So I’m in the process of researching what investment funds to choose from for my first contribution. Since I’ve been reading a lot about IRA accounts I decided to share some useful information that I gathered. The traditional and the Roth IRA, also known as Individual Retirement Account, is a retirement plan account that offers some tax advantages  for retirement savings .They are usually invested in stocks or mutual...