There are several occasions when it may make sense to delay contributing to tax advantaged retirement accounts. Tax advantaged retirement accounts include plans such as a 401k, or an IRA. For most people, it is in their best interest to invest in these retirement accounts. However for certain situations, it may actually make sense to delay contributing to these retirement accounts.… Read the rest
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This year I’ve finally made enough money to reach the Social Security contribution cutoff. The Social Security paycheck bonus occurs when an individual makes more than $127,200 per year. Any income beyond this amount no longer has taxes taken out for Social Security. New attendings who scrutinize their paycheck may notice a nice bump up in the take home pay when this threshold is reached.… Read the rest
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When I was fourteen I recall working a job with my grandfather on a newly built house. We were wiring the house for electricity since my grandfather is a plumber and electrician by trade. He yelled at me, “Do you have the wires screwed into the socket yet?” He told me which wire goes in what location but me being fourteen with quitting time on my mind I soon forgot which one went where.… Read the rest
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