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4 Places To Put Your Retirement Money
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There is no shortage of options when deciding where to put your retirement money. Strategies and tools are available to all investors, no matter where you may be in your retirement planning journey. These options range from DIY to completely hands-off. Investors can break down their choices into three main decisions: the account, the investments, […]
What Is a Self-Directed SEP IRA?
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A self-directed Simplified Employee Pension (SEP) IRA is a tax-advantaged retirement savings plan that’s designed for small business owners and self-employed individuals. When a SEP IRA is self-directed, it means that the account owner chooses their own investment options. A self-directed SEP IRA can be used to invest in a broad range of investments. At […]
How to Beat Inflation
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A small, steady amount of inflation is considered good for the economy. But when prices rise faster than wages, the value of your money goes down. This can have a negative impact on quality of life, especially for those with middle and lower incomes. It can also complicate saving for emergencies and investing for retirement. […]
Examples of Nontaxable Income vs Taxable Income
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The IRS divides income into taxable and nontaxable categories. In general, income is taxable unless there’s a law exempting it. As you’d expect, all taxable income must be included on your yearly income tax return. But here’s the twist: Nontaxable income may also need to be listed on your return, too. Because anything tax-related is […]
What Is a Money Purchase Pension Plan (MPPP)? How Is It Different From a 401(k)?
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A money purchase pension plan or MPPP is an employer-sponsored retirement plan that requires employers to contribute money on behalf of employees each year. The plan itself defines the amount the employer must contribute. Employees may also have the option to make contributions from their pay. Money purchase pension plans have some similarities to more […]