Updated March 10th, 2024 My Story I was a freelancer for over 10 years when I found out about Solo 401k or SEP IRA during the pandemic. You can imagine my shock when I realized the lost time on compound interest and tax benefits. I spent weeks reading every article I could find, and reading […]
Dear Eliza, My 15 year old son has been receiving monetary gifts from family and friends, as well as earning money helping a few neighbors over the summer. I want to open a savings account for him. Which type of savings account would you recommend? I always get excited when I find out that parents
For me, creating a budget is the first step to my financial independence plan. Knowing what income you are bringing in, how much you are spending, and how much you are saving is crucial to developing a plan to create a budget. This is the time to get into the habit of spending way less
How to Create a Budget. Roadmap to Financial Independence. Read More »
Dear Eliza, My 16 year old daughter has saved $1,200 from her summer camp counseling job. Can I open a Roth IRA for her? How do I get started? Your teen did an awesome job getting that summer job. Kudos to her! The short answer to your question is Yes! A Roth IRA is an
Can I Open a ROTH IRA for my Teen? How Do I Get Started? Read More »
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