transferring-ira-money-to-an-hsa

Source: https://www.investopedia.com Did you know you can make a one-time, penalty- and tax-free money rollover from your individual retirement account (IRA) to a health savings account (HSA)? The process is officially known as a qualified HSA funding distribution, and it was made possible by the Health Opportunity Patient Empowerment ActContinue Reading

14-low-stress-jobs-to-consider

Source: https://www.investopedia.com What makes up a low-stress job? It depends on an individual’s conception of “stressful,” and of course, some workers cannot alter their work or quit their job. However, if you are thinking about finding one of the least stressful jobs with a decent salary and job security, thereContinue Reading

you-maxed-out-your-roth-ira:-now-what?

Source: https://www.investopedia.com Suppose that you’ve contributed the allowable maximum to your Roth individual retirement account (IRA) for the year but still have money left over to stash away for retirement. That’s a problem that a lot of people probably wish they had. And never fear—there are plenty of other goodContinue Reading

can-you-have-both-a-401(k)-and-an-ira?

Source: https://www.investopedia.com The quick answer is yes, you can have both a 401(k) and an individual retirement account (IRA) at the same time. Actually, it is quite common to have both types of accounts. These plans share similarities in that they offer the opportunity for tax-deferred savings (and, in theContinue Reading

ira-contribution-limits-for-2022-and-2023

Source: https://www.investopedia.com The limit for annual contributions to Roth and traditional individual retirement accounts (IRAs) for the 2022 tax year is $6,000, or $7,000 if you’re age 50 or older. For tax year 2023, those figures are $6,500 and $7,500, respectively. However, there are restrictions that could affect how muchContinue Reading

what-are-the-maximum-social-security-disability-benefits?

Source: https://www.investopedia.com In 2022, the estimated average Social Security disability benefit for a disabled worker receiving Social Security Disability Insurance (SSDI) is $1,358 per month, according to the Social Security Administration (SSA). That figure is expected to go up to $1,483 in 2023. These benefits are based on average lifetime earnings,Continue Reading

student-loan-debt-by-gender

Source: https://www.investopedia.com It’s no secret that large student loan debt is a problem for many people. Americans collectively owe more in student loans than the gross domestic product (GDP) of almost every country, and that amount is only growing bigger over time. Taking out debt is a solid way toContinue Reading

how-does-a-simplified-employee-pension-(sep)-ira-work?

Source: https://www.investopedia.com A simplified employee pension (SEP) IRA is a retirement savings plan established by employers for the benefit of their employees and themselves. It can also be established by self-employed individuals. Employers may make tax-deductible contributions on behalf of eligible employees to their SEP IRAs. SEPs are advantageous because theyContinue Reading