The best time of year to get started with investing is the beginning of the year between January and April. Why? It’s because the contribution period for my favorite type of retirement investment account, the IRA, overlaps.

The contribution period for an IRA starts on January 1st and lasts until the tax-return filing deadline the Continue Reading

Happy 5-29 Day!

There are many ways to save for college. Of the two types of education investment accounts,  the 529 college savings plan is the most popular tax-advantaged account being used today. They’re popular because some states allow residents to take a tax deduction for contributions, they have high contribution limits, generous beneficiary Continue Reading

I’ve been reading a lot of reports in the news that consumers are “feeling” richer, and as a result, they are increasing consumption and spending more. What the hell does that mean? What is it like to feel rich, but not actually be rich?

There are supposedly two factors that are making people feel richer. Continue Reading

Sometimes I wish I was still in the military. I miss the camaraderie, doing something different all the time, and the chance of adrenaline driven action. Most of all, I wish I had access to the Thrift Savings Plan.

The Thrift Savings Plan (TSP) became available to the military in late 2001. It’s a 401(k) Continue Reading

Fidelity Investments reported that the average balance of a 401(k) account grew to a record $77,300 at the end of 2012. This is an 11.87% increase from 2011’s average 401(k) balance of $69,100. Further, Fidelity says participants saved an average of 8% of their annual salary. When employer contributions (matching) is included, the amount increased Continue Reading