Financial Guide to Designers
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- Momentum20
whats a roth IRA?
- canuck0
Any more good links less americanized?
- histwinsiste0
how do i not spend all my money on liqour? i bought a flask to sneak into bars but it doesnt save me money. it just gets me really drunk.
- blaw0
maybe i came to realize that i will never be a rock star...
tkmeister
(Jun 20 06, 10:09)----
hahaha... hurts, doesn't it?
- JKristofer0
SEP IRA's are also good for the Self Employed out there.
http://personal.fidelity.com/ret…
Higher contributions allowed and immediate tax benefits.
- bolder0
gotta get this house buying out of the way, then start with the savings plans
- tkmeister0
http://personal.fidelity.com/glo…
i found out this one early this year but it was a bit too late for 2005. with this, you can amke a lot more contribution than SEP.
- seed0
The SEP sounds great for freelancers.
"Tax-deductible contributions - Up to 25% of compensation, as much as $42,000 for the 2005 plan year and $44,000 for the 2006 plan year.*"
- F_180
SEP is key for the self employed. also, SIMPLE IRA's are a good deal if you are offered one.
- ********0
the western world would colapse if we saved more...SPEND ! SUPPORT FREEDOM!
- ********0
it's simply not about taxes vs savings it's how much we spend on usless consumer products and services vs how much we spend
- ********0
/\ 'spend' should be 'save'
- tkmeister0
basically, don't buy shit u don't need and spend wisely.
- ********0
i dont need taxes.
- ********0
yes it's best to ignore taxes
- seed0
If you count up everything you buy in a week that you don't need you will realize that no matter how much you earn you do have $ to invest. It is much more efficient to 'pay yourself first' by having your income go straight into a plan like the SEP before taxes. Just buying stuff you don't need doesn't give you the benefits of a before tax retirement plan with compounding interest.
- JKristofer0
Before saving (according to the experts) it's advised to save 3-6 months worth of living expenses. This account is for emergencies. Once that’s established, tackle any outstanding debts, then tackle a savings account. 3 steps. I think that's right, unless step 1 & 2 are swapped but I don't think so.
- tkmeister0
yes, i think that's the safest approach.
then if anybody has credit debt, the first thing they should do is to transfer to 0%APR account and pay no interest(usually 12month period).
however, u can switch 2 and 3 and play rather aggressive. since you are not paying any interest on your credit debt now, u can save as much as you can and gain more interest in this 12month period.
it's good to remember that interest adds up very quickly.
- tkmeister0
Why men don't know jack about retirement?
http://money.cnn.com/magazines/m…