IRAs have annual contribution limits and 401k have salary deferral limits based on IRS Guidelines. Roth IRAs also have a contribution limit based on income. See below for current year limits. Go to: 2021 IRA Contribution Limit 2021 Roth IRA Contribution Limit based on income 2021 401k salary deferral limit 2021 IRA Contribution Limit For …
How to calculate your Financial Freedom Number and Savings Rate 🔥
Do you know how to calculate your Financial Freedom Number (or Financial Independence “FI Number”). Do you know your savings rate — the key to Financial Freedom? 💸 What is Financial Freedom (Financial Independence)? Do you have to Retire Early? First of all, what is Financial Freedom aka Financial Independence (the “FI” of the “FIRE …
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How much Social Security Will I Get? Easy way to find out!
“How much social security will I get?” Many people ask this while planning their retirement. And hopefully, you ask yourself this before it’s too late to start saving for retirement. The SSA (Social Security Administration) states: “Social Security benefits are not intended to be your only income source when you retire. You will need other savings, …
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How Much Money You’ll Get from the 2020 Coronavirus Recovery Rebate
Use this CALCULATOR to figure out how much money you’ll receive from the 2020 Coronavirus Recovery Rebate. Find out WHEN and HOW the IRS will send money. On March 30. 2020 The Treasury Department and the Internal Revenue Service announced that the distribution of economic impact payments will begin in the next three weeks and …
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Budgeting, Investing & Retirement – 12 Must-Do Money Moves
Personal finance has three main areas, so covering all these bases will brighten your financial future (1) Cash management (e.g. budgeting), (2) Wealth creation (e.g. investing and retirement), and (3) Asset protection (e.g. insurance, will & trust). I’ve compiled a list of what I consider to be the 12 most critical, must-do personal finance “money moves” you can …
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Easy way to file taxes online (For FREE!)
Looking for a way to file taxes online for free? You’ve come to the right place. First, I was a tax accountant, so I love easy-to-use tax software. Then, I became a financial coach, so I love saving money! There are countless ways to file taxes online, so I polled my friends (many of which are …
How do I make estimated tax payments?
Taxes are technically due in four quarterly installments throughout the year (not one lump sum on April 15th). Most people don’t even think about estimated payments because if you’re an employee, your employer does this for you. Your employer (as required by law) withholds money from your paycheck and submits it to the government. (Remember …