Everyone knows saving for retirement is a priority, because retirement is important and compound interest is powerful — but are the tax savings for retirement accounts so great that you should use them to save extra cash, too, such as for a hypothetical future home purchase? When I was in my late 20s — unmarried, … Read More about Cash Savings vs. Retirement Savings Accounts: Where to Stash Your Money When You’re Unsure What You’re Saving For
How much should you be saving for retirement? Are there savings benchmarks by ages? Is saving different for women? These are all questions that come up frequently (and no one really has all the answers) that I thought we should talk about them today. {related: here’s our guide to FIRE (financial independence retire early) for … Read More about Tales From the Wallet: How Much to Save For Retirement
2021 update: See our new post about investing money in retirement accounts vs. saving cash. We’ve also made some updates below. Something I’ve been thinking a lot about since I read it is this Mint article on “The Value of Tax-Deferred Savings.” According to the article, “[u]nless you make enough money to max out all of … Read More about Tales from the Wallet: Tax-Savvy Investments
