Nothing inspires my writing more than what my clients and readers (like you!) ask me about. Since I started my blog, your questions, like your lives, have become more complicated.
I want to highlight the most popular blog posts of the past year, because they cover some meaty topics that I know many of you are wondering about right now. Just in case you missed them the first time, here they are again:
1: I No Longer Qualify for a Roth IRA — Now What?
Contrary to popular belief, not everyone qualifies for a Roth IRA. This is because Roth IRAs have income limits that may make it impossible for you to contribute to this type of retirement account. You may hit that limit suddenly if you get a raise this year, get married, or receive company stock that could push you over that threshold.
This post explores other ways to save for retirement if Roth IRAs are no longer available to you.
2: 4 Tips to Overcome the Fear of Spending So You Can Enjoy Your Cash
Sometimes clients come to me with tens of thousands of dollars sitting in cash because they’re afraid of making the wrong financial move. If this sounds like you, we can help!
Other people are afraid to examine their spending because they feel guilt and shame about how they spend their money or feel like they don’t deserve to spend their money the way they want.
But I believe that if you identify your values and put your money toward what’s important to you, you’ll get more out of your spending. And yes, that includes paying for “frivolous” stuff like dinners out, travel, and tickets to Hamilton (like I did in this post).
Your money is a tool that can enable you to live your best life, but only if you know where your money is going.
3: 8 Money Mistakes to Avoid in Your 30s
Most of my clients are in this life stage of incredible growth, opportunity, and change. With our 20s being pretty tough in terms of getting our lives and careers going in the wake of a recession, our 30s are when life comes at us fast: promotions, new jobs, grad school, marriage, babies, homeownership, world travel.
Don’t miss these tips on setting yourself of for successful adulting without sacrificing your future financial security.
4: 9 Money Mistakes to Avoid in Your 40s
A lot happens in your 40s. You have growing kids and aging parents. You may sell your starter home to buy your dream home. You may still be dragging your feet on estate planning, even though you have so much more in your life to protect.
As millennials inch closer and closer to the big 4-0, what are some common financial pitfalls to be aware of? How can you plan for those more complicated financial situations?
5: Should I Contribute to a 401(k) or Roth IRA?
There are so many types of retirement accounts available, and the right ones for you depend on a few factors:
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If you’re self-employed or work for a company that offers an employer-sponsored account
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If your employer offers a company match on your contributions
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Whether you work for a for-profit or non-profit company
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What your household income is, and what you think it may be in the future
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How much money you can afford to save each year for retirement while still meeting other financial goals
So should you contribute to a 401(k), Roth IRA, both…or neither?
What Questions Do You Want Answered?
Do you have a burning money question? Submit it here and it can be featured on the blog’s Ask Gen Y Planning series!
We’ve received great reader questions about estate planning, student loans, receiving inheritances, cryptocurrency, and more.
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