What is a Safe Harbor 401(k)?

safe harbor 401(k)
A safe harbor 401(k) ensures employees are saving for retirement at every income level. This type of 401(k) has laws that prevent discrimination against lower-earning employees. It also protects employers from liability. Background Investment retirement plans became popular in the early 1980s after the Employee Retirement Income Security Act of 1974 (ERISA) and the Revenue Act of 1978. The retirement...
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How to Prepare for Financial Independence

We each want to have financial independence in our unique way. Some want to quit working at age 40. Others just want to retire at some point with a substantial nest egg. Being financially independent is one of my life goals. It won’t happen overnight, and it won’t be easy. What is Financial Independence? The “Financial Independence, Retire Early” (FIRE) journey is increasing...
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Cost Comparison: Home Care vs Assisted Living

home care vs assisted living
When comparing the costs of home care versus assisted living, you have to be realistic. Preparing to care for an elderly loved one can be stressful and expensive. There are many details to consider depending on the wants and needs of you and your relative. Home Care Home care may be less expensive than alternatives, but it may be more complex. The 2018 Genworth Cost of Care survey states the national...
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Fact Check Finance: Wait to Invest Until You Pay Off Your Debt

invest after you pay debt
Dave Ramsey recommends that you wait to invest until after all of your consumer debt is paid off except for your mortgage. I understand the logic, but I don’t think it is a one-size-fits-all solution. Wait to Invest? Dave Ramsey has a financial freedom program that includes baby steps. Investing 15% of your income for retirement is baby step number four, after a small emergency fund, paying...
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Can You Put Cryptocurrency in Your IRA?

Cryptocurrency and retirement -- so finds a study.
How’s your 401(k) or IRA doing? A typical 401(k) plan returns from 5% to 8% based on a portfolio of 60% stocks and 40% bonds and other conservative investments. If your retirement plan is not meeting expectations, you may be tempted by the high returns of cryptocurrencies like Bitcoin – but should you be wary of incorporating cryptocurrency into your account?
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