We don’t hear much about personal economic value, but when considering survivorship and life insurance it helps us understand and prepare for some really large numbers. Our personal economic value is our earnings potential, or what we expect to earn between now and when we plan to stop working. If I currently earn $124,000 each […]
Tag Archives: Individual retirement account
Our saving plan should cover three essential areas: cash on hand for unexpected bills, money put aside to cover expenses in case our income is interrupted, and an account for later in life when we stop working or work in a reduced capacity. This approach protects our longer term savings from an unexpected withdrawal by providing for short-term […]
If you’re employer has a 401(k) plan and you’re not contributing, it’s time to take a serious look at the financial benefits these plans offer. Company sponsored 401(k) plans allow us to deposit a limited amount of pretax income (taken from our gross pay before taxes are withheld) to an account that grows tax-deferred. This […]
Personal Finance Simply Understood 