Monkey Staff

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 […]

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

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

You can save money more efficiently if you develop a written plan, use an interest calculator, and know in advance how much you need to set aside each month or week to reach a savings target to pay for whatever you want. For example, do you want to save enough money over several months or

Have you wondered about opening a child IRA account for your child? Many people aren’t sure whether the idea is practical or legal. In fact, if you want to teach your kids the value of saving and give them a considerable head start on building a retirement account, opening a custodial IRA makes good sense.