Category Archives: Retirement Savings

Target Networth or Target Debt Reduction

Posted by Rich In The Heart

First let me apologize to those folks that follow my blog, since I have gone through some very difficult family times recently with the passing of both my father and my father-in-law, all within the month of April &ellipse; not … Continue reading →

Posted in budget, economics, Financial Arsenal, networth, Retirement Savings | Tagged , , , | Leave a comment

Your biggest expense should be you!

Posted by Rich In The Heart

Your biggest expense should be for your future self for the first 5 years. The younger you are, the easier and better it is for you to take 50%-60% of your paycheck and put it away. Imagine being 19, 20, … Continue reading →

Posted in budget, budgeting, Financial Arsenal, financial directive, Goals, Income Tax, networth, Retirement Savings, spending plan | Tagged , , , , | Leave a comment

Pay less taxes than you put into an IRA

Posted by Rich In The Heart

Let’s see how a person could pay less taxes than they put away into an IRA (or 401k). We will use a simple scenario of a single person with a gross income (including interest earned) of $29,500 or less. You … Continue reading →

Posted in 401k, Financial Arsenal, financial directive, Income Tax, IRA, thrift savings plan, tsp | Tagged , , , , , , , | 1 Comment

Net worth as of Jan 2014

Posted by Rich In The Heart

Here is my our net worth report for January 2014. I just checked our net worth and this is what I found: growth by 125% from the same time 1 year ago growth by 23.4% from 9 months prior growth … Continue reading →

Posted in 401k, Financial Arsenal, financial directive, networth, Retirement Savings, Roth IRA | Tagged , , , , , , | 4 Comments

To curb retirement tax breaks for the rich or not

Posted by Rich In The Heart

Here is a CNN Money article that asks if President Obama is trying to curb retirement savings tax breaks for the "rich". I have to agree with the writer when she speaks about the purpose of the myRA accounts that … Continue reading →

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The lowdown on MYRA accounts

Posted by Rich In The Heart

The current POTUS has signed legislation for "lower income" families to be able to put some of their hard earned money into a new type of account called a MYRA account. The primary goal of the MYRA account is a … Continue reading →

Posted in 401k, IRA, MYRA, Retirement Savings, Roth IRA | Tagged , , , | 2 Comments

Net worth as of Dec 2013

Posted by Rich In The Heart

Since this is a personal finance site, I figure I should divulge some bits of person financial information such as net worth. This is the first post of my net worth and I will try to post this every quarter … Continue reading →

Posted in 401k, Financial Arsenal, financial directive, networth, Retirement Savings, Roth IRA | Tagged , , , , , | Leave a comment

Pullback from the market

Posted by Rich In The Heart

It's always a difficult stance to take, whether one should pullback from the market. After all, after the drop in the first quarter of 2013 and subsequent drive up of the market by the end of the year, one could … Continue reading →

Posted in 401k, Goals, Growth, IRA, Retirement Savings, Roth IRA | Tagged , , , , , | 1 Comment

Tax year 2014 tax limit guidelines

Posted by Rich In The Heart

There are always limits that the IRS places on various items in your financial arsenal, and this post is meant to be a brief summary of the 2014 tax limit guidelines. The list below is only meant to be brief … Continue reading →

Posted in 401k, Financial Arsenal, Income or Pay, Income Tax, IRA, Roth IRA, Social Security, Tax guidelines | Tagged , , , , , , , , | 1 Comment

Fill out your W4 Withholding Allowance Certificate

Posted by Rich In The Heart

Can you claim more allowances when you fill out your W4 Withholding paperwork than you do on April 15th? The answer is yes. Can that result in an increase in the money you get back during the year? Again the … Continue reading →

Posted in financial directive, Income or Pay, Income Tax, Retirement Savings, spending plan | Tagged , , , , , | 3 Comments