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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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Anne and Matt, May 2013 Net Worth

by Luke Landes
AnneMatt-may2013

Have you been following the Naked With Cash series this year? Seven Consumerism Commentary readers are making their finances public, sharing the intimate details of their financial decisions and net worth. They’re putting it all out there, leaving nothing to the imagination. Aided by professional financial advisers who guide them and supported by readers cheering ... Continue reading this article…

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Moved Bank and Investment Accounts to a Living Trust

by Luke Landes
Living trust

I spent about half of the day today taking care of some of the financial responsibilities I have been putting off. It feels good to check to-do items off my list, especially if they have been sitting there for some time, and I’ve been either procrastinating or filling my day with other priorities. One of ... Continue reading this article…

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