Archive - May 2018

1
Financial Planning Advice for Single Mothers
2
Designated Roth Accounts ( Roth 401k or Roth 403b )
3
Tax Planning For Fiscal Year 2018
4
The Present Doesn’t Portend the Future
5
All You Need To Know About 401(K) When Switching Jobs

Financial Planning Advice for Single Mothers

WealthySingleMommy.com offers the kind of financial advice you may find elsewhere with the addition of offering attitude adjustment advice needed when you’re facing a tough situation. It is easy to panic but better to save money and explore your options:

“But being a single mom does not mean you’re destined for the welfare line, free school lunches for your kids, or living in your parents’ basement.

The first step is to convince yourself that your new life will be one that is full, joyous and financially rich.”

Emma Johnson of WealthySingleMommy.com encourages single mothers to see themselves as financially independent …

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Designated Roth Accounts ( Roth 401k or Roth 403b )

hymen rothDesignated Roth Accounts or Roth 401k are simply 401k plans that allow employees to designate all or part of their elective deferrals as qualified Roth 401k contributions. Qualified Roth 401k contributions are made on an after-tax basis, just like Roth IRA contributions. This means that employee contributions and earnings are entirely free from federal income tax when distributed from the plan, subject to qualifications. Contributions are not deducted from income (as regular 401k or deductible IRA contributions are). This article discusses qualified Roth 401k contributions.

Caution: 401k sponsors are not required to allow Roth contributions to their plans. But if …

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Tax Planning For Fiscal Year 2018

MON, MAY 7th, 2018
 
As we take a deep breath after filing our 2017 taxes and begin to look forward to warmer temperatures and Spring flowers, we should take a few minutes to focus on setting ourselves up for tax success in 2018.

Many of us have enjoyed a bit of extra income as the new tax rates have started to flow through our paychecks. While enjoying the extra cup of coffee, lunch or additional 401k contribution that the extra income is affording us, we need to pause and shift our attention to our tax withholding for 2018. With …

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The Present Doesn’t Portend the Future

You probably know the well worn disclaimer in the investing world, “past performance is no guarantee of future results.” It’s essentially how many investment firms wow you with statistics about their past performance, only to remind you that your future results may never match theirs. OK, fair enough, so how about present circumstances? Do they portend the future?

It’s human nature to focus more on the present than the future, which is in line with our basic instinct of survival. After all, if we don’t take care of the here and now, there may not be a future, right?

Marketing …

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All You Need To Know About 401(K) When Switching Jobs

Land a great new job? Awesome. Now is the perfect time to think about your 401(k) and retirement plan, whether you had one before or not. Saving for retirement is important at all ages, so don’t let this opportunity fall to the bottom of your list.

Here are few tips to consider when starting a new job and a new 401(k).

1. Make more contributions if you have a bigger paycheck. When you get a raise, it is a good idea to increase the amount you contribute to your 401(k). You didn’t have this money in your pocket, so you

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