An Individual Retirement Account (or IRA) is an “individual retirement plan” that is funded through personal contributions. IRAs are a great addition to traditional 401(k)s and allow individuals to save for retirement with tax-free growth or on a tax-deferred basis, depending on the type of IRA. Basic Definitions There are
On December 22, 2020, the Office of Management and Budget approved and posted the Compliance Supplement Addendum for COVID-19 programs administered in 2020. This addendum is effective for audits beginning after June 30, 2019. The reason for the addendum is to provide guidance for entities with COVID-19 program expenditures that
There are many ways to evaluate how to spend your income earned: a portion on fixed expenses, another percentage on discretionary expenses, and the balance to future savings. But what happens when you have more than one savings goal? How should the total amount saved be allocated among goals? This
Have a relaxing and stress-free retirement requires a large amount of careful planning for it to be successful. Each person has a unique situation that must be evaluated when trying to achieve the goals they have in mind. The key to estimating how much you will need in retirement is
The best way to improve anything is to track progress to provides a direct comparison from the past to the present. Creating a budget or a spending plan is no different. Tracking where your money is coming in and going out is the best way to measure your current financial
During the last week of February 2020, the S&P 500 lost 11.49% — the worst week for stocks since the 2008 financial crisis — only to jump by 4.6% on the first Monday in March1. By all accounts, the drop was largely driven by ever-increasing fears about the