Make Smart Money Decisions
Investing in real estate is a popular way to grow wealth, but many people don’t realize that they can use their 401k to do so. A 401k is a retirement account that offers tax advantages, but it can also be …
When it comes to saving for retirement, there are many options available. Two common choices are the SEP IRA and the 401k. Both of these retirement accounts offer different benefits and can help individuals prepare for the future. But, one …
When it comes to retirement planning, your 401k is one of the most powerful tools to help secure your financial future. But as your financial situation changes, so too might your ability to contribute to your retirement fund. Understanding how …
To change your 401k contribution, log in to your plan provider’s online portal, usually accessible through your employer’s HR website, and navigate to the section where you can adjust your contribution percentage; most plans allow you to make changes at …
Navigating the complexities of Medicaid eligibility can be challenging, especially when it comes to understanding how retirement accounts like a 401(k) impact your assets. One common question that arises is, is 401k exempt from medicaid? The answer isn’t straightforward and …
When you decide to withdraw funds from your 401(k) account, understanding the timeline for receiving your disbursement check is crucial. Whether you’re facing a financial emergency, planning for retirement, or managing other financial goals, knowing how long does it take …
Planning for retirement can seem overwhelming, but understanding key financial concepts can make the journey smoother. One such concept is compound interest, especially as it applies to your 401(k) retirement account. In this blog post, we’ll explore how compound interest …
Starting a business is a dream for many. However, securing the necessary funding can be a significant hurdle. One question that often arises is, “Can you use your 401k to start a business?” The answer is yes, you can technically …
Planning for retirement is a crucial aspect of personal finance, and one effective way to save is through a 401(k) plan. Among the various features of a 401(k), understanding what an elective deferral to a 401k can significantly impact your …
Navigating the intricacies of tax reporting can be challenging, especially when dealing with retirement contributions. One common scenario that business partners may encounter is determining how to report partner 401k contributions on a K-1 form. Understanding this process is essential …