Q: Is it strategic to restart retirement savings with a Roth IRA/401(k)?
A: If you are going back to work for the cash flow to make ends meet, I would not recommend restarting an IRA/401(k), since cash flow is critical and your tax bracket may be low, so the tax savings may not be there. Cash outside of a retirement plan may be more practical and flexible. However, if you are going back to get out of the house or for socialization, then yes, you can restart retirement plans for the tax savings and to have more in the future. Personally, I would do the 401(k) if the company has a matching program. Read more…
Personal finance expert Timothy Gagnon shares tips and advice for managing tax-deductible personal time during business travel.
Personal finance expert Timothy Gagnon shares important steps that freelancers can take to ensure they are preparing their taxes correctly and to their best advantage:
Financial and legal expert Timothy Gagnon shares important steps unmarried couples can take to ensure their rights and finances as partners.