Monkey Staff

How Taxes Affect 3 Types of Retirement Savings

Taxes often throw a complicated factor into long-term investments. One of the most important long-term financial goals that people should have is saving for retirement. Retirement can seem distant, especially for young people, and the existence of Social Security might make it feel like saving doesn’t need to be a priority. However, Social Security won’t

How Taxes Affect 3 Types of Retirement Savings Read More »

Compounding Interest: How 5% Interest Helps You Build Wealth

Compounding interest is earning interest on previously earned interest. It’s also known as earning “interest on interest.” Over time you can build up your wealth by reinvesting the interest you’ve accumulated. You should understand the difference between simple and compounded interest to take full advantage of it. The interest rate earned on compound interest depends

Compounding Interest: How 5% Interest Helps You Build Wealth Read More »

6 Common Questions about Roth IRA vs. Traditional Savings

Most people know that they need to save for retirement, but they don’t know, between Roth IRA and traditional savings, which type of retirement account is best. Comparing your options is a wise decision, so you know the rules that govern these retirement accounts. The main differences are the amount of money people can contribute

6 Common Questions about Roth IRA vs. Traditional Savings Read More »