Recent federal tax reform legislation has added several favorable new tax provisions for ABLE (Achieving a Better Life Experience) accounts. ABLE accounts are tax-advantaged savings accounts for individuals with disabilities that are typically used to cover qualified disability expenses.
Outstanding student loan debt in the United States has tripled over the last decade, surpassing both auto and credit card debt to take second place behind housing debt as the most common type of household debt. Today, more than 44 million Americans collectively owe more than $1.4 trillion in student debt. Here are some strategies to pay it off.
Whether through inertia or trepidation, investors who put off important investment decisions might consider the admonition offered by motivational speaker Brian Tracy, “Almost any decision is better than no decision at all.”
As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions. However, for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option.
In 2018, as in years past, retirees expressed a higher level of confidence than today's workers (perhaps because "retirement" is less of an abstract concept to those living it). However, worker confidence seems to be on the rise, while retiree confidence is on the decline.