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DISCLAIMER: THIS POST IS BROUGHT TO YOU BY SGINNOVATE. DO NOT PROCEED IF YOU DON’T LIKE SPONSORED CONTENT. About a decade ago, a younger version of myself ranted to an older colleague — a Thai expat — that too many foreigners were coming into Singapore and competing with locals for jobs. I will always remember his response, because it was the rude awakening I needed. It went something along the lines of this: “The real […]
Roth or 401k which should I max out first? asked Buck Inspire This is an excellent question: which to max out first, a 401k or Roth IRA? The easy answer, max out both the 401K and the Roth IRA! You can’t go wrong saving and investing as much as you possibly can now. Contents Toggle What if I Can’t Max out Both My Roth IRA and 401K?Which to Max out First – 401k or Roth IRA?The Pros and Cons of a 401k vs. a Roth IRA Retirement Account401k Pros401k ConsRequired Minimum Distributions AgesRoth IRA ProsRoth IRA Cons401k or Roth IRA – Predicting the FutureBonus Roth IRA Investing IdeaRelated This article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. What if I Can’t Max out Both My Roth IRA and 401K? In the real world we all need to make financial choices. Most investors can’t afford to max out their 401k and their IRA. So, how to allocate retirement funds is a common question. If you can afford to max out both, here are the contribution limits for 2026: Higher income earners may not be able to participate in both a 401k and a Roth IRA. Following are the 2026 Roth IRA contribution and phase-out ranges, based upon taxable income: Find more money to invest; 7 Unique Ways to Save Money Which to Max out First – 401k or Roth IRA? First, if your company matches your 401k investment, make sure to contribute enough to get the employer match. After you receive the free employer money, then the decision whether to go with the Roth or 401k depends on several factors. The Pros and Cons of a 401k vs. a Roth IRA Retirement Account 401k Pros An advantage of the 401k over a Roth IRA is that your contributions are tax deferred which means your taxable income is reduced by every dollar that’s paid into the 401k. So, if you make $70,000 and contribute $10,000 to your 401k then you’re only taxed on $60,000 of income (for Federal taxes- state policies vary). Assuming solid, low fee investment choices and the ability to defer taxes, it makes sense to max out your 401k contribution. 401k Cons There are several disadvantages to investing in a 401k. You might not like the investment choices offered by your employer. Another disadvantage of investing in a 401k over a Roth is that you must start withdrawing your 401k funds between ages 72 and 75, depending upon your birth year. And you have limited investment options in your 401k. There are a much wider range of investment choices in a self-directed Roth IRA. Required Minimum Distributions Ages Read this article if you are experiencing retirement anxiety? Ultimately, if you don’t like the available choices in your 401k, then invest only up to the employer match and invest the maximum in a Roth IRA for
Image Source: Shutterstock The Met Gala isn’t just about bold fashion—it’s a high-stakes runway where millions of dollars can literally be sewn into a single look. Every year, celebrities compete to outdo each other with jaw-dropping designs, rare materials, and historic pieces that blur the line between fashion and museum artifacts. But one question keeps popping up: who actually wore the most expensive Met Gala dress ever? The answer might surprise you because it isn’t […]
A while back we introduced the MoneyNing Manifesto for financial success in the New Year. Its purpose is to empower and motivate you to financial success next year. Another powerful technique we’re introducing to change your money mindset is visualization. If you look up visualization online, you’ll find page after page of “self-help” gurus shilling the idea that you can achieve your goals through the simple act of picturing their achievement in your head. According […]
Friends – it is the end of an era! I’ve been blogging here for more than a decade. It’s absolutely bonkers to me how our financial picture has changed during that timeframe. Where I Started When I first started blogging here, I had twin two year old toddlers and I taught adjunct online part-time for peanuts. We lived in a tiny duplex complex in a scary part of town in a place that had no air conditioning (living in Tucson, AZ where it’s frequently in the 110+ temps during summer!) Life felt tight. Financially, emotionally, all of it. What Changed Along the Way Over the years, life didn’t just change – it evolved in ways I never could’ve predicted. There were several moves. First from the duplex to a better rental, then to the home my now ex-husband and I bought together, and then back into a rental mid-divorce with twin 6-year-old kindergarteners. I landed my first “real” job for $55,000/year (and felt rich!). I climbed the ladder, got raises, and carved out a space for myself professionally. I re-married, bought a home with my new husband, and have started to travel the world (to Peru and Indonesia with work; to Italy and Hawaii with hubs in the past 6 years). But despite all of the changes, I stayed very consistent with my finances. I’ve driven used cars. I’ve invested regularly. I’ve shopped frugally. I’ve lived below our means. The Long Road of Student Loans And then there were the student loans. When I graduated in 2013, I had over $100,000 in student loan debt. In my oldest debt update post on the blog (June 2014), I had over $96k. For years, that payment was one of my biggest monthly bills – second only to housing. I chipped away at it consistently. Even during the federal pause, when payments and interest were suspended, I kept going. I doubled and tripled payments, trying to take advantage of that window. Eventually, I made the switch to the Public Service Loan Forgiveness (PSLF) program. I started qualifying in August 2015. And in March 2026, I made my 120th qualifying payment. I submitted my paperwork. And then I waited…. The tracker said: “Congratulations! Your PSLF form has been accepted!” It sounded promising…but also vague enough to make me nervous. It took another 3 weeks… But just last week I received official notification: MY LOANS HAVE BEEN FORGIVEN! The balance is now $0 for my remaining student loans. What This Really Means Yes, this is huge. But the bigger thing? I’m officially debt-free (minus the mortgage)! For a long time, student loans were the last thing left. When I first started blogging here, I had every debt you could think of – credit cards, store cards (e.g., Mattress Firm), medical debt, car loans, and even legal debt. The accountability of blogging here really helped me, and I was able to pay off a lot of debt in a short time. But my divorce set me back a bit
“Have your parents been scammed yet?” Jim Dahle asked me, in a brief one-on-one conversation at the recent White Coat Investor Conference. The implication, of course, is that it’s a matter of when it happens rather than whether it happens. At the conference, three other attendees happened to share stories with me of their parents being scammed. (And, to be clear, I was not walking around polling people on this topic.) And we recently discussed […]
Oh let’s see this month my manager pissed me off by micromanaging. She is a relatively new manager to us, we are a very well functioning no-drama team without much need for management. She seemed okay for the past six months until she questioned a … Read moreApril 2026 Dividend Income Update The post April 2026 Dividend Income Update appeared first on Genymoney.ca.
Many money experts say you should skip the coffeehouse and make it at home. That’s a lot of effort that you have to do every single day to save a couple bucks. What if there was a way to save money all year, with a little bit of effort each month? Every month, I look to negotiate one of our major bills. I’m not always successful. In fact, I fail most of the time. But when I succeed, it’s savings I can bank on all year. I can put that extra cash towards investments or our vacation fund. Either way, I get to keep it and most of them take just fifteen or so minutes to do. You should give it a try, here are a few bills to tackle: 🤫 And if you can’t negotiate a bill every month, negotiate one every quarter. Or once a year! Whatever it is, once you have some success, you won’t want to stop! Table of Contents1. Car Insurance2. Credit Card Annual Fee3. Cell Phone Bill4. Rent5. Consolidate Credit Card Debt6. “Cancel” Subscription Services7. Ask for a Lower APR8. Buying Prescription Drugs9. Bank Fees10. Shop Provider Choice When Available11. Property Taxes12. Life Insurance 1. Car Insurance Car insurance is one of the best expenses to negotiate because it’s really easy to comparison shop. You can find three competing insurers and get quotes or use this free car insurance shopping tool to quickly shop multiple insurance companies. Once you get a few competing quotes, go back to your current insurer and ask them if they can do better on the existing policy. Sometimes they may offer you a lower rate than what you found independently because of various discounts like multiple policies, loyalty, or another affinity discount. If they can’t, bring up the other quotes to see if your insurer will match them. If they will, great, you’re done! If not, you can always switch your insurer. 👉 Free car insurance comparison shopping tool 2. Credit Card Annual Fee If you pay an annual fee on your credit, see if you can negotiate a “retention bonus.” This is when you call up your credit card company before the annual fee hits (30-60 days is best) and ask them if they will waive the fee. Most of the time, they will say no. But sometimes you get lucky and it costs nothing to ask. If they say no, tell them you are thinking about canceling and if they have any retention offers. If they say no, call their bluff and ask them to cancel. If they actually let you cancel but you want to keep the card, just hang up. More likely than not they will pretend to check their computer and return with an offer of points, statement credits, or something similar to keep you. Worst case is you hang up. 3. Cell Phone Bill Cell phone companies fight hard for your business and if your contract is up for renewal, you
Travel Safely and Comfortably After 60: 10 Smart Ways to Enjoy Every Trip <img decoding="async" class="alignnone wp-image-46980 size-medium" title="Travel Safely and Comfortably After 60: 10 Smart Ways to Enjoy Every Trip" src="https://www.ourdebtfreefamily.com/wp-content/uploads/2026/05/pexels-kampus-7476884-1024×683.jpg" alt=" There’s something exciting about planning a trip, no matter your age. Maybe it’s finally taking that dream cruise to Alaska, visiting grandchildren across the country, exploring national parks you’ve always wanted to see, or booking that long-overdue European vacation. For many adults […]
8 Habits Older People Still Have Because No One Ever Told Them to Stop <img loading="lazy" decoding="async" class="alignnone wp-image-46994 size-medium" title="8 Habits Older People Still Have Because No One Ever Told Them to Stop" src="https://www.ourdebtfreefamily.com/wp-content/uploads/2026/05/pexels-leish-6975158-1024×682.jpg" alt=" Have you ever visited an older family member and noticed something that made you smile, laugh, or quietly wonder why they still do it? Maybe your grandfather still prints directions before every road trip even though he owns a […]
Life is uncertain. We are living our day-to-day lives with a certain level of uncertainty, but that’s part of the fun. Some people don’t like having too many uncertainties, so they take actions and precautions … Read more
It’s been a while since I wrote much about our children. So here’s a big update on what they are up to as the kids of early retired parents. For those new to the blog, we have three kids: two adult daughters plus a teenage son. Our daughters are 19 and 21 years old while our son is 13. When I first retired almost 13 years ago, our son was only one year old, still […]
🎙️ Episode #486 – He didn’t have more time, he just started taking action. Here’s how one investor bought 3 rentals while working full-time. Listen… The post No Time? He Still Bought 3 Rentals (Here’s How) appeared first on Coach Carson.