Articles: Get Out of Debt, Manage Your Money, and Live Debt Free

Retirement Plan Options & Contribution Limits Made Simple

Retirement Plan Options Made Simple There are so many retirement plan options out there today, but they don’t all apply to each of us. It can be hard to weed through them all. So how do you know what may work for you?

This article could make sorting through your choices and learning about contribution limits easier.

We’ll go through a number of retirement plan options for employees, for self-employed folks / contractors, for government employees, and for those in the military. We will also mention the plans that could work for anyone, in any career.

We’ll Lay Out the Main Retirement Plan Options and Contribution Limits For You Here

Many of them have names that seem odd, but don’t let that put you off. It doesn’t matter what they’re called. It matters what they could help you do: have money to live on when you retire.

Quick note: Remember that once you have chosen one or more plans, you will need to tell them what you want them to do with the money you put in. That way they can invest it for you instead of just having it sit there.

With that said, we’ll list the main types of retirement plan options you will find in the US, broken down by categories for:

Almost anyone
Full time employees of large companies or small businesses
State or local government employees, plus employees of non-profits
Teachers & ministers
Self-employed / contractors
Military members

Be sure to read the one(s) that may apply to you, and check with a pro and your employer (if you have one) to be sure. You can click the links above if you want to jump straight to one of the categories.
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The Best Home Budgeting Software and Budgeting Tools for Your Life

The best home budgeting software and budgeting tools can help you track spending and monitor your goal progress. There are many free and premium apps out there that cater to (almost) any budget style.

They’re especially useful if you need help making a spending plan or figuring out how best to save for a large purchase. (Most of us are great at making goals like those, but need help starting a new routine and following through.)

Maybe you’re not sure if you like spreadsheets, money envelopes, or a basic spending comparison tool more. Those are all types of home budgeting software that can can help you manage your money better.

(Note: This article contains some affiliate links, so this site may receive a small commission at no extra charge to you if you use them to sign up for any of the services. For the paid software, prices are accurate as of the time of publishing, but always check for current pricing as they may change.)

With that said, here’s a list of some of the best home budgeting software to choose from.
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Credit Karma: Get a Free Credit Score and So Much More

How does Credit Karma really work? Do your friends or family track their free credit score on Credit Karma? This free platform is a legit way to monitor your credit, file your taxes, and open a high-yield savings account.

You might be currently paying off debt or trying to build credit. Credit Karma can be one of the easiest ways to improve your finances.

(Note: This article contains affiliate links, so this site may receive a small commission if you sign up for any of the services through them. There’s no charge to you though!)

This overview of Credit Karma helps you learn more about their credit tracking tools and other services. They offer many services that you may not be aware of, in addition to offering a free credit score. You can decide if their services can help improve the way you manage money.
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Julie has a $92,000 a Year Household Income. She’s Frustrated.

Falling behind on $92K a year What happens if you make a good income but can’t get ahead? (Or even fall further and further behind each month?)

Andy from Marriage Kids and Money recently discussed a question of the month from Julie that covered exactly that. She and her husband make a good income, but can’t get ahead. And she is clearly frustrated — both with the personal finance world and the current economy.

You can read her full question & Andy’s response here (and listen to the podcast) but I’m going to pull a few things from the question to respond to here. Because I have a lot to add.

Fair warning: there’s some tough love coming in this post. But I’ve also got some specific ideas that could help, plus food for thought in general.
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