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Easy way to build an emergency fund

According to the IRS, around 72% of Americans received a refund on their taxes in 2019. This extra cash may be the largest check some people receive all year and can be a perfect opportunity to start—or grow—your emergency savings funds.Learn how your tax return can kickstart your savings. The Consumer Financial Protection Bureau’s guide…

Big Roth 401(k) Tax Surprise

Thanks to Kim Blanton writing in the Squared Away Blog for explaining the complexities of taxes on withdrawals from Roth 401(k) plans. “Financial experts and writers often tout the Roth 401(k)’s main selling point: when the money is withdrawn in retirement, it won’t be taxed.Well, that’s not entirely true.An employee’s own money saved in his…

Tax time is the time to act on retirement savings!

It’s time to feed your “Financial Freedom Fund.” The federal government (under previous administrations… not sure how long this great deal will last….) offers a tax credit to help workers boost their retirement accounts. “The Retirement Savings Contribution Credit, aka the Saver’s Credit, is a tax credit that may be applied to the first $2,000…