Savings

Taxes, whether we admit it or not, drive a lot of our personal finance decisions. Avoiding or lowering them can influence where we choose to live, what kind of car we buy, where we send our children to school, whether we purchase a house, and many other everyday decisions. Everyone tries to limit the amount of taxes they pay. Taxes play a large role when we invest for retirement, as well.

The rationale for speculation over taxing Roth IRA withdrawals is that the tax break looks far too generous. Other tax-sheltered retirement plans, after all, are merely tax-deferred—meaning you’ll pay taxes on them eventually. The earnings on Roth IRAs are effectively tax-exempt.

Let’s face it, medical expenses can have a major impact on your budget, especially as you get older.

If you’ve heard about a Health Savings Account or maybe your work offers one, then it just may make sense to give it some serious consideration – and, in my opinion, it typically makes a lot of sense.

Dealing with debt is nerve-racking, but debt when you’re approaching retirement can be downright scary. The conventional wisdom is that you should try to retire debt-free, but fewer and fewer people are actually doing that.