I’ve talked about diversification quite often in blog posts over the years. Most of that diversification talk has centered around investing in different types of investments, such as having a mix of stocks and bonds or investing in different market sectors. However, today I want to talk about diversifying the places where you actually put your money. You’re probably well aware that there limitations on how much you can contribute to an IRA or 401(k). So, what do you do if you have extra money? Well, you could put the money in a savings account or another IRA, or you Continue reading Diversify for Retirement With a Brokerage Account
Not all income is treated the same by the IRS. There are actually multiple types of income that you could generate and which are taxed differently from one another. For example, the income your generate from working is looked upon differently by the IRS than income generated from the sale of stock. Thus, it’s important that you understand the different types of income and how they are taxed. I’m not going to get into a detained examination in the blog post, but I will describe them in a nutshell. The first type of income is ordinary income, which includes things Continue reading Do You Know the Different Types of Income?
Many credit cards offer rewards for making purchases. Whether it’s cash back or points that can be used towards purchases, having the right credit card can be a good way to save some money and get some perks that can be used to travel or make cheaper purchases. If you plan on traveling during retirement, you may want to consider a credit card that rewards with airline points/miles. Or, if you make a lot of purchases on Amazon, you may want to consider an Amazon credit card so that you get some money off your purchases. Those are just a Continue reading Is a Credit Card Advantageous to Your Retirement?