If your 401(k) is a big deal in your retirement savings strategy, you’re not alone. According to the Investment Company Institute (ICI), more than 52 million workers participate in a 401(k) plan. That adds up to $4.7 trillion in retirement assets, making 401(k)s one of the most common sources of retirement income for U.S. workers.
But plans vary from employer to employer, so not every 401(k) plan is what it’s cracked up to be. The last thing you need is to throw your retirement investing budget away in a plan that’s going nowhere. Take a look at some reasons why you might consider stopping your contributions to your employer’s 401(k), then check out our suggestions for how to keep your retirement plan on track without one.
Blessing your children and spouse with gifts is one of the greatest joys of Christmas.
But what about everyone else?
Between friends, co-workers and extended family, where do you draw the line? You don’t want to leave anyone out, but you also don’t want to stretch your Christmas budget to the limit.
Before you hit the packed mall and online stores this year, set some gift-buying boundaries. Figure out how much you have to spend and prioritize accordingly. And absolutely refuse to go into debt for anyone—no matter how cute they would look in that Rudolph sweater.
There you are, enjoying a plate of pita chips and salmon dip at your neighbor’s annual party, when someone mentions Dave Ramsey. Suddenly, you’re on trial. And you get an earful of questions and comments like:
Oh, you’re a Dave fan? I agree with everything he says except . . .
Be honest: How many credit cards do you really have?
No one can afford to pay for Christmas with cash. It’s too expensive!
After a few rounds of this, you start searching for the nearest exit. While it may not be fun to take the high road, it’s your best option. Here are some easy tips for defusing a heated money conversation this holiday season:
Those of us who spend any significant amount of time online know the evils that come with the social media obsessed world we live in. Fortunately, there is a shining light amidst all the cyberbullying and heated debates regarding the election. Among the internet drudgery, there is a saving grace, a beacon of hope, which comes in the form of videos of adorable puppies and kittens. These videos, which feature our canine and feline friends doing everything from saving their owners in medical emergencies to simply yawning, can inspire even the most stoic of us to want to run out to our nearest humane society and adopt a furry friend. The impulse is hard to resist, and a dog or cat can be the perfect new member of a family, but there are other factors to consider, including the cost of responsibly owning a pet.
- Join Us March 12, 2018 at the Smart Money Conference in Troy
- Steven Fronrath: Director of Client Relations
- One Clear Sign You Have a Rotten 401(k)—And What to Do About It
- Draw a Line in the Snow: How to Set and Stick to Gift-Giving Boundaries
- 3 Ways to Defuse Heated Money Conversations This Holiday Season
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