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The terrain: Prosperity Quadrant II (positive cash flow; negative net worth). This portion of the trek has activities to save from income. Activities to Save From Income get the 401(k) match from your employer Investors that have high incomes and don’t qualify for a deductible IRA or a Roth IRA are allowed to open a nondeductible IRA instead. The earnings are tax-deferred – not tax-free as they are in a Roth. A nondeductible IRA can make sense if you think you can convert the funds to a Roth IRA in Continue reading Trek III: Invest in Traditional IRA In an earlier step you began contributing to your 401(k) to get the maximum employer match, if your employer offers it. Now, we’re going to focus on the benefits and strategies for contributing additional funds to the 401(k). When you compare the percentage of your salary that your employer matches with the maximum contribution that you Continue reading Trek III: Invest in 401(k) Non-Match In an earlier step you began contributing to your 401(k) plan to get the maximum employer match, if your employer offers it. Now, we’re going to focus on the benefits and strategies for contributing additional funds to the 401(k). When you compare the percentage of your salary that your employer matches with the maximum contribution that Continue reading Trek II: Invest in 401(k) Non-Match The terrain: Prosperity Quadrant III (positive cash flow; positive net worth). This activity follows Continue reading Wealth and Prosperity: Save From Income: Fund a Roth IRA The terrain: Prosperity Quadrant II (positive cash flow; negative net worth). This activity follows an earlier activity that gets a 401(k) match Continue reading Net Worth: Save From Income: Fund a Roth IRA The terrain: Prosperity Quadrant III (positive cash flow; positive net worth). If your employer offers a 401(k) Continue reading Wealth and Prosperity: Save From Income: Get the 401(k) Match The terrain: Prosperity Quadrant II (positive cash flow; negative net worth). If your employer offers a 401(k) plan and provides a matching contribution up to Continue reading Net Worth: Save From Income: Get the 401(k) Match |
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