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It is never too early to start planning for retirement. Investing in a retirement plan early may offer significant advantages to waiting until a later age.
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As tax season draws to a close, you are probably ready to simply forget about 1040s, W-2s, 1099s, and CPAs altogether, at least until next year. However, you may not want to dismiss this tax season so readily.
Federal income taxes are “pay-as-you-go,” according to the IRS. This means you must pay most of your tax throughout the year as your income is received, rather than waiting until you file your tax return to make up for any shortfall.
You spent the last four years or more earning a degree, countless months sending out resumes, and finally, after your third (or fourth or sixth) interview, you landed your first job – congratulations! Once you’ve paid your bills, bought your groceries, and put gas in your car, you may be wondering what you should do with what’s left of your first paycheck.
This piece will help you identify what your living expenses are on a monthly and yearly basis.
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Ask your financial advisor about the Stifel Wealth Strategist Report® today.
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Each year, individuals with earned income may decide to put up to $6,000 ($7,000 if age 50 or older) into an IRA to save for retirement.
A Stifel Simplified Employee Pension Plan Individual Retirement Account (SEP IRA) is easy to establish and cost efficient to maintain.
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