Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
About half of American workers are employed by a company or are part of a union that sponsors a pension or retirement plan. But that doesn't mean the 77 million U.S. workers who don't have a 401(k) or employer-sponsored retirement plan are out of luck when it comes to building a nest egg. There is no reason you can't save for retirement on your own.
Here are three steps you need to take now:
Open a traditional or Roth IRA. Contribute as much as you can every month and increase your allocation every year until you reach the maximum contribution limit. Depending on your income, you can save up to $5,500 in 2015—up to $6.500 if you're 50 or older.
IRA contribution limits are far lower than for a regular or Roth 401(k), which allow maximum contributions of $18,000 this year or $24,000 if you're 50 or older. But you'll still get the benefits of compounded earnings growth as well as certain tax advantages. Regular IRA contributions may be tax-deductible and Roth IRAs allow you to withdraw those funds tax-free in retirement.
Self-employed? Consider these three tax-advantaged ways to save:
Add to retirement savings in a taxable account. Pick investments—stocks, bonds, mutual funds and other assets—based on your appetite for risk and when you want to retire. If you have extra money to stash in brokerage account in addition to tax-advantaged plans that can also help you build long-term growth to ensure you are able to retire on your terms.