The Dangers of the Death of a Beneficiary

The beneficiaries you name in your will to receive your assets after your death or to care for your minor children are more than likely very close to you or even members of your own family. While the death of a beneficiary is a sad time in a family’s life, it is also a time that you have to take an introspective look at your own estate plan. That is the time that you need to update your will kuvubf=g and any beneficiary documents. Most investment companies that manage your Roth IRAs, 401ks, and other investment accounts allow you to name a beneficiary in order for those assets to skip probate court and be distributed directly according to your will. … Read more

What Is Passive Income? Here Are Two Ways To Earn Passive Income

What Is Passive Income?

What is passive income?You can make money while sitting on the couch. You can continue to make money in retirement. What if you could make money without even trying? What if your money could make money for you?

That’s exactly what is passive income and what it means. There are several ways or investments listed below that I have been using to earn a passive stream of income.

What Is Passive Income?

What is passive income? Passive income is making money without having to do anything. Passive income is earning an income on autopilot. Passive income is setting up some investment, job, or system that continues to pay you without you having to do anything. It does not require you to manipulate anything.

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Five Ways To Recover From Your Investing Mistakes

How To Recover From Your Investing Mistakes

We all make mistakes in life, and that fact of life extends to our investments as well. We all make investing mistakes. I know that I have made quite a few over the course of the past decade. Whether you have withdrawn money from a retirement account early, not invested enough to capture your employer’s 401k matching contribution, or even not saved as much as you should have, the real question is what to do now. How do you recover from mistakes? Get Back Up on the Horse When you fall off a horse, you have to get right back up and try again, and the same is true when you make an investing mistake. Have you used your 401k … Read more

Reader’s Question: What To Invest In After The Company Match

What To Invest In After The Company Match
What To Invest In After The Company Match

Your 401k retirement plan is not an emergency fundHere is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on the blog.

If you’re not familiar with Dave Ramsey’s book, you should run right out and get it. It is one  of my top ten best personal finance books that everyone should read. Now….on to our reader’s question. I recently received an email from a reader, Ralph, who ask…

I’ve been investing more than my company’s match. So for instance if my401k company match is 5% and I invest 10%, is it better to continue or just invest the 5% that’ll get the match and invest the rest in a Roth IRA?

This is a great question that a lot of investors have to tackle when they are deciding where to put those finite investing dollars to work. You often can’t be everywhere at once.

So, the real question is where to start and where to go after you get going with your retirement investing. There are several things that you should consider in order to maximize your savings and minimize your tax liability as well.

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