Archive | Tax Advantaged

Should You Max Out Your 401(k) in 2019?

The department head at my job invited me into his office for a 30-minute chat when I first started. We spent the time getting to know each other and talking about our past experiences and current roles at the company. Then he asked if was contributing the 403(b). I live and breath this stuff so I saw it […]

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graduates

A Three-Pronged Approach To Funding Your Child’s College Education

About twelve years ago before starting a family, I met up with an old college friend for happy hour at a bar in Washington D.C. called The Big Hunt. I remember the booth, nachos, and the conversation like it was not so long ago. My friend was a new Dad. He told me about the college […]

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Nerding Out With My New Employer-Sponsored Retirement Plan

One of the best benefits of my new job is the employer-sponsored retirement plan. The plan was confusing at first, even for me who lives and breathes this stuff. But they made it complicated to maximize the tax advantages. It’s so good, the plan is even better than most of the 401(k)s of the big […]

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Blooom Featured Pigs

Is Your 401(k) Naughty Or Nice?

Thanks to all the extra time away from work, our family is taking a few days of vacation before seeing relatives for Christmas. I wasn’t planning to publish anything this week until one of my affiliate partners* shared a cool holiday-themed infographic about 401(k)s. Before reading the infographic (below), check out this free deal they’re offering […]

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Bureaucrats

Protect Yourself From The Whims Of Politicians

A funny thing about living in the Washington D.C. suburbs is most people don’t talk about politics in person. You’d think since so many residents have careers related to the government and military that neighborhood picnic conversations would be about the latest news from Capitol Hill or Pennsylvania Avenue. Definitely not. Aside from an occasional […]

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10 Life-Altering Money Moves You Can Start Today

Very few decisions during your time on this earth actually change the trajectory of your life. After a party in 2007, I scanned the huge Evite email list to try to find a woman I met there. Then I ‘stalked’ her on Facebook and asked her out. We have three kids together now. Though truly […]

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Why Your 401(k) Is Broken (And How To Fix It)

My 401(k) savings grew to a plump 6-figure level after 14 years of participating in my employer’s plan. For 13 of those years, it was a very crappy 401(k) plan due to poor fund selection, high expense ratios (fees), and third-party adviser fees. The third party did nothing after 2004. But they still took fees every […]

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Funny Money

6 Habits of Above Average Retirement Savers

Some exciting news to share with you today. Back in May, I was approached by US News & World Report to become a regular contributor to their On Retirement blog. Since then, I’ve been writing new content about retirement and money once or twice a month.  As of today, I’ve written six articles for US […]

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Save More Money With These 15+ Tax-Friendly Accounts

The U.S. tax code is filled with a mind-boggling array of tax-avoidance tools including tax-friendly accounts, loopholes, and special favors to various constituents. The primary intent of the tax code is to collect money, but the politicians who shape it add in a bunch of cheats and easter eggs that lower the amount of tax they […]

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Annual Goals and Resolutions Review

2016 was a reset for my personal finances. In lieu of achieving epic goal reaching success, I focused on building a more solid foundation from which my wealth can grow. Not all the changes were easy, but the results have set the stage for the years ahead. A sneaky cash flow problem became apparent in […]

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6 Powerful (And Low-Risk) Financial Maneuvers That Put Extreme Frugality To Shame

Certain financial maneuvers are more powerful than others. This article outlines six of the most powerful financial maneuvers you can make to improve your financial situation.  These ideas are not about skipping your morning coffee. Saving $3 per day isn’t going to help you build wealth.  Instead, this list separates identifies ideas that will truly […]

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Goals and Resolutions (Inspired By My Kids)

Happy New Year everyone! Did you accomplish your financial goals last year? Any resolutions for 2016? The goals I set last year were mostly a success. Setting firm and measurable financial goals kept me motivated throughout the year. I’ve made some exciting progress. My 2016 goals are similar but need to account for potential uncertainty during […]

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2015 GOALS Med

Financial Goals For 2015

In the past few weeks, I’ve reviewed my 2014 financial goals and calculated my forward investment income for the year’s end. Now it’s time to set some new financial goals for 2015. This year I’m lowering the number of goals (four compared to seven) I set while making the new ones more challenging, measurable, and targeted. Last year was […]

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KB Hutchinson

Spousal Roth IRA – Double Your Tax-Advantaged Savings

We opened a spousal Roth IRA in my wife’s name in 2013 and contributed $5,500 to both her’s and my Roth that year. We’ll continue to contribute the full amount to both of our IRA’s every year going forward, as long as we don’t hit any income limits. Mrs. RBD works her ass off as […]

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