If you are working toward or interested in saving more, you may be wondering where to start.
Perhaps you…
• Received a bonus or a raise and need guidance on how to save or invest the additional cash;
• Have a tax refund coming to you; or
• Want to consider ways to save more this year.
Whatever the case, it is important to set your intentions and establish good habits to ensure you save for your financial goals.
With even the most comprehensive financial planning, there is no way to avoid unforeseen circumstances. When you encounter unexpected expenses, you often must be flexible and act promptly. It can be difficult to adapt without veering off course.
Being prepared to handle an unexpected expense can help you stay on track despite experiencing upheaval and uncertainty.
This checklist covers the key issues to consider when you must fund an unexpected expense. It addresses:
You may have unique circumstances that could result in a distribution from a Roth IRA being taxed or penalized. Many of these situations rarely come up, which makes it hard to remember the usual distribution rules from a Roth IRA.
To help make this easier, we are offering the “Will A Distribution From My Roth IRA Be Tax & Penalty-Free?” flowchart. This flowchart helps to quickly identify circumstances that could have an impact on how a distribution is taxed (and penalized). It considers the following:
Healthcare can be one of the priciest yet most essential parts of life’s journey. Unfortunately, many struggle to utilize the financial tools that may help. Take Health Saving Accounts (HSAs), for example.
In 2019, 55% of those with HSAs that did not record a distribution also did not receive either employee or employer contributions. This suggests that the lack of distributions are due to account holders becoming disengaged from their accounts, rather than not having access to this cost-saving financial tool.
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