In Alternatives to a High Cost 401k Or 403b Plan , I mentioned non-deductible IRA as one of the options. If you are not eligible to contribute to a Roth IRA, you can still contribute to a Traditional IRA. Even though the contributions are not tax deductible, the money in the IRA still grows tax […]
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The Cost of Being Green
I love the Om Money column in the Yoga Journal magazine. It’s the first thing I read in every issue. The column features a question from a reader answered by two money experts. A previous column prompted me to write Unsure About Socially Responsible Investing (SRI) last year. Here’s another good question in the September […]
Stories from Strapped: Conclusion
Are you glad the Stories from Strapped series is finally coming to an end? In the last five weeks, we read some stories in the book Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead by Tamara Draut. Stories from Strapped: College Education Stories from Strapped: Paycheck Stories from Strapped: Debt Stories from Strapped: Housing […]
Stories from Strapped: Child Care
This is part 5 in the Stories from Strapped series. Previous posts in the series are: Stories from Strapped: College Education Stories from Strapped: Paycheck Stories from Strapped: Debt Stories from Strapped: Housing Chapter 5 in Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead by Tamara Draut is And Baby Makes Broke. Basically the […]
Stories from Strapped: Housing
This is part 4 in the Stories from Strapped series. Previous posts in the series are: Stories from Strapped: College Education Stories from Strapped: Paycheck Stories from Strapped: Debt Chapter 4 in Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead by Tamara Draut is The High Cost of Putting a Roof Over Your Head. […]
Sending a Small Amount of Money Overseas
For reasons I won’t go into details, I need to send US$100 to someone in Mexico. I’m not in a big hurry. The money doesn’t have to be there in minutes or hours, but I don’t want it to take weeks or months either. Obviously I’m interested in reliability and cost, both in fees and […]
Stories From Strapped: Debt
How do you like the stories from Strapped series so far? These stories get better and better. Previous posts in the series are: Stories from Strapped: College Education Stories from Strapped: Paycheck Chapter 3 in Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead is Generation Debt. I think we all know what that means. […]
401k Loan Double Taxation Myth
I don’t know who started it. Suze Orman certainly helped spread it. She says that you shouldn’t borrow from your 401k (or 403b) plan because you will be double-taxed. I did a Google search and I found this by Suze Orman: “Also, never ever borrow against your 401k plan because you will pay double taxation […]
Stories from Strapped: Paycheck
This is part 2 in the Strapped series. See also: Strapped: College Education Chapter 2 in Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead is Paycheck Paralysis. It says the younger generation can’t get ahead because they don’t get good jobs. They have become Bouncers, Jugglers, Tempsters, and the Pajama Class. The stories are […]
Alternatives to a High Cost 401k Or 403b Plan
This is a common problem: you have a 401k or 403b plan at work, but the plan isn’t very good. All the investment options in the plan have high expenses. The plan itself may also have some hidden fees. If the plan has a match, you contribute enough to get the full match. That’s a […]