How Much Money Should You Put Away?
The savings rate is an important national economic statistic. However, it is even more important on an individual level. Whether it is a business or family, putting money away is key to staying afloat economically. Of course, everyone will go through ups and downs...
Checking Account, Savings Account, or Both?
In simple terms, a checking account is used to pay for expenses, while a savings account is intended to store money for later use. Checking accounts are designed for everyday transactions — your morning cup of coffee or a tank of gas. Savings account funds, however,...
Building Your Savings Account: How Much Should You Have Saved Up?
There’s a heavy focus on the importance of building your savings account. An increasing number of people are realizing how necessary it is to have a “rainy day fund” to fall back on. Businesses, for example, know that they need a 10% “rainy day” or contingency fund...
Moving into a Roth IRA: Should You Stay or Should You Go?
Moving into a Roth IRA from a Traditional IRA or SIMPLE IRA may be a great way to maximize your IRA savings. Converting is easy to do, and may have positive effects on your financial future. The Basic Facts A conversion is the taxable movement of Traditional or SIMPLE...