The IRA contribution limits will stay the same in 2025. You can contribute $7,000 if you are under 50. If you are 50 or older, the limit is $8,000. The catch-up contribution limit for those 50 and up will also stay at $1,000 in 2025. This year, other retirement plans, like 401(k)s, will
The 401(k) contribution limit increases to $23,500 for 2025. Individuals aged 50 and older can contribute an additional $7,500 as catch-up contributions. There is a higher catch-up contribution limit of $11,250 for individuals aged 60 to 63. The IRA contribution limit remains at $7,000, with an additional $1,000 catch-up contribution for those aged
The annual contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan is increased to $23,500, up from $23,000. The limit on annual contributions to an IRA remains $7,000. The IRA catch‑up contribution limit for individuals aged 50 and over was amended under the
Financial planning in Long Beach offers a pathway to secure your future investments and achieve long-term financial stability. The vibrant coastal city presents unique economic opportunities and challenges, making it crucial for residents to develop comprehensive strategies tailored to their specific needs. A well-crafted financial plan can help you navigate market fluctuations, maximize savings, and
Are you looking for ways to secure your financial future in retirement? Check out these 10 creative strategies to generate passive income and enjoy a worry-free retirement.
Navigating the world of financial planning often feels like a complex journey. Among the myriad options available, annuity products stand out as a versatile choice for many individuals seeking financial stability and growth. In this quest, resources like Jackson annuity reviews can provide valuable insights, especially when considering offerings from leading providers. Understanding Annuities: A
Are you considering converting your 401k to a Roth IRA? It's a significant financial decision that requires careful consideration. In this blog, we will cover everything you need to know about the process of conversion, including the necessary steps and essential documents needed. We will also help you determine if converting your 401k into a
Retirement may seem light years away when you're in your 30s, but it's never too early to start planning for it. Building a retirement nest egg in your 30s requires careful planning and regular saving. The earlier you start, the more time your money has to grow through compound interest. In this blog, we will
The United States is known for its complex and varied tax laws, which differ from state to state. One such area that can be confusing for many consumers is sales tax. While most states impose a sales tax on goods and services, there are a few that do not. In this blog post, we will
When it comes to managing your finances, it's essential to be proactive rather than reactive. One way to do this is to make a checkstub regularly to keep track of your income and expenses. This simple action can help you stay organized and make tax season less stressful. However, life is full of events that
Investing in the stock market is a great way to build wealth and achieve financial goals. However, it can be overwhelming for beginners to navigate the various investment platforms available. Two popular investment apps are Acorns and Robinhood, but what are the differences between them? In this blog post, we will take an in-depth look
If you've been looking for a simple app to help you save money effortlessly, Acorns could be the solution. But how does it work? We've got you covered with this comprehensive guide that covers everything from the basics of Acorns to its unique features and how it compares with other investment platforms. In this post,
Choosing the perfect place to retire is not an easy choice at all. The cost of living is certainly among the first things you are considering while making this choice. However, you need to consider other important aspects, such as security, amenities, and the overall livability of the city. To make things easy for you,
Retirement can be a great time to travel, start that new hobby or tackle outstanding goals but making sure your finances are in check is just as important. Here we look at the main reasons to set those financial goals. Retirement is a phase of life that many of us look forward to with anticipation.
Managing your finances can be a daunting task, especially when you have multiple accounts and expenses to keep track of. Fortunately, budgeting apps like SoFi Insights and Mint can help simplify the process. In this blog post, we will delve into the features and benefits of each app, highlighting their similarities as well as differences
A fixed annuity is a type of retirement product purchased through an insurance company. The insurer determines the interest rate by which your account grows every contract year. The rate is fixed, meaning it doesn't fluctuate with market conditions. During what is known as the accumulation phase, you make a lump-sum payment or a series
It is important for businesses to plan their pensions carefully, as the retirement program they choose can have a significant impact on both employees and employers. According to statistics, 68% of workers consider a company's saving plan when deciding whether or not to accept a job offer, and they may leave if they feel that
Throughout history, the concept of wealth preservation and the transfer of assets to future generations has been a core concern for affluent individuals and families. In ancient civilizations such as Egypt, Greece, and Rome, elaborate estate planning measures were undertaken to ensure the seamless transition of wealth and property to heirs. As society progressed and
According to Gallup, 89% of American households with more than $100,000 in income own stocks. And it's no mystery why! Investing is a great way to expand your horizons when it comes to the level of wealth you can accrue. Now, if you're ready to explore investing but don't know how, here are 13 simple
The numbers about how much Americans have saved for retirement are disheartening. Seventy percent of Americans worry they won't have enough money until retirement, and just over a fifth have nothing put away. Nonetheless, it makes sense to reduce living expenses once you stop working, regardless of how much you've managed to save. When you
If you’re not aware, a 401(k) plan is a retirement savings plan that can be offered by employers in the U.S. to their employees. It enables employees to gain tax advantages so that they can save more for their retirement funds. Employees pay a percentage of each of their paychecks towards a 401(k) plan and
Starting a new job is an exciting time, especially if it is your first paying job. Going to work everyday and receiving a salary at the end of the month is the easy part, the hard part is finding ways to work with your money that allows you to meet all your expenses and still
What is the Acorns app? Acorns is a popular investment app that allows users to invest spare change from their everyday purchases into a diversified portfolio of exchange-traded funds (ETFs). Launched in 2014, Acorns has grown to over 9 million users and has become one of the most popular investment apps for beginner investors. Learn
Are you stuck in a financial rut and can't see a way to add to your savings pot or start setting aside funds for the future? Do you want 2023 to be your best financial year to date but you’re not sure how to get started? You’re in the right place! Our five golden rules
Although planning for retirement and beyond is absolutely vital, there are some staggering statistics surrounding how few people are actually doing so in the US. As far as wills are concerned, about 60% of Americans are currently without one, and this can lead to serious implications for grieving loved ones. Passing on without a will
Are you deciding between investing in exchange-traded funds (ETFs) or mutual funds and not sure which is the better option? This article will investigate the differences between these two similar but unique investment fund options. What is an Exchange Traded Fund? Exchange-traded funds (ETF) are baskets of holdings- such as stocks, bonds, or any other
If you're looking for an asset finance solution, you've come to the right place. This blog post will discuss everything you need to know about asset financing. We'll cover topics such as what asset finance is, how it works, and the benefits of using this type of financing. So whether you're a business owner looking
Buying ETFs on SoFi: A Guide Exchange-traded funds (ETFs) may be unfamiliar to you if you're just starting out in the investing world. This is a common way for investors to acquire a large number of equities all at once. Exchange-Traded Funds (ETFs) are a type of investment vehicle that combines and distributes ownership of
A Guide to SoFI Invest Automated Accounts If you're a young or inexperienced trader looking to dip your toes in the water, SoFi Invest is the best micro-trading platform for you. The online-only platform is feature-rich enough to appeal to experienced traders but not so much that newcomers will be overwhelmed. New users should be
A Guide to SoFi Active Investing In its early stages, Sofi Invest served largely as a mobile app-based “micro brokerage” for novice traders. SoFi's automated system uses a set of sophisticated algorithms to invest your money on your behalf, or you can choose to actively manage your account. This article takes a closer look at