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Should You Open an IRA With Your Bank? Ally Bank Offering $250 Bonus

by Luke Landes
Cash

It’s easy for me to look back in time and analyze the faults of my twenty-two year-old self. If only I had started saving and investing sooner, I’d be in a better financial situation. My younger self would assume I had forgotten what it was like for me during that time period, when I had ... Continue reading this article…

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5 Steps to Make the Most of New Year’s Resolutions and Goals

by Luke Landes
Champagne

As one year comes to a close, many people like to take a few moments and think about the year ahead. The setting of New Year’s resolutions is a time-honored tradition and a recurring theme at the end of each year. The new year has always been a chance, although somewhat arbitrary, to give yourself ... Continue reading this article…

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401(k) Contribution Limits for 2014

by Luke Landes
401k

After two years of increases, the IRS is not adjusting the retirement savings opportunities for American taxpayers this coming year. From 2009 through 2011, the maximum contribution to retirement accounts — 401(k) accounts, 403(b) accounts, most 457 plans, and Thrift Savings Plans, was $16,500. In 2012, this amount increased to $17,000. After considering inflation and ... Continue reading this article…

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JW, August 2013 Net Worth

by Luke Landes
JW Naked With Cash August 2013

In Naked With Cash, seven anonymous Consumerism Commentary readers publicly track and analyze their finances on a monthly basis. For almost a decade, I tracked my own finances on Consumerism Commentary; now I’m sharing the benefits of public accountability with the participants. I’ve partnered with financial planners who will offer some guidance along the way. ... Continue reading this article…

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Should Millennials Trust the Stock Market?

by Luke Landes
Should millennials trust the stock market?

First impressions often form the basis of how a young person perceives an object for the remainder of that person’s life. The object in question could be another person, a business, an industry, a group of people, or even a part of society. Deeply-seated beliefs are entrenched during several stages of formative development. Psychologists point ... Continue reading this article…

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The Best Investments for a Teenager

by Luke Landes
Teenager

While it doesn’t hurt to discuss investing with children at an earlier age, they can get real, hands-on experience with investing as a teenager. Like many other kids in the 1980s, I played the Stock Market Game in elementary school, and learned nothing about investing, but I learned that adults checked the newspaper every day ... Continue reading this article…

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Anonymous S, July 2013 Net Worth

by Luke Landes
Anonymous S Net Worth July 2013

In Naked With Cash, seven anonymous Consumerism Commentary readers publicly track and analyze their finances on a monthly basis. For almost a decade, I tracked my own finances on Consumerism Commentary; now I’m sharing the benefits of public accountability with the participants. I’ve partnered with financial planners who will offer some guidance along the way. ... Continue reading this article…

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IRA Balances At Five-Year Highs: Time for a Retirement Check-Up

by Luke Landes
IRA balances at an all-time high

Thanks to the stock market’s upward trend since the recession (if the trend hadn’t been upward, we couldn’t say “since the recession”), policy changes that allow investors to convert traditional IRAs to Roth IRAs without limit other than the income tax bill, and perhaps even younger savers inspired to plan for their retirement by saving ... Continue reading this article…

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