Become a Patron! I've written previously about the SECURE Act, the House version of a measure designed to encourage employers to allow employees to gamble their retirement savings on the long-term financial stability of private insurance companies. The measure has since cleared the House but is currently being held up in the Senate for now by Ted Cruz who is trying to turn … [Read more...] about The SECURE Act and the defects of the centrist mind
Roth 401(k)’s are different, but they’re not special
Become a Patron! The other day I got into a very frustrating argument with a popular anonymous Finance Twitter account about the epistemology of 401(k) savings vehicles. The frustration arose from a very specific phrase he used to describe one of the benefits of a Roth 401(k) over a traditional 401(k): "you’re able to contribute more with a Roth 401k." This is such a strange … [Read more...] about Roth 401(k)’s are different, but they’re not special
Over There: franking credits in Australia
Become a Patron! Welcome to the second entry in my occasional series, "Over There," about personal finance topics in countries besides the United States. These posts aren't meant as advice to people living in those countries, but rather as some kind of practical insight for American readers into how other countries deal with the the same issues we do: savings, insurance, … [Read more...] about Over There: franking credits in Australia
The manufactured “kiddie tax” crisis, explained
Become a Patron! There's a simple rule I like to remind people of whenever a business or finance story emerges from the business section of the paper into the news section or into public consciousness: business journalists are the laziest people in the country. I would call business journalism "stenography," except for the serious injustice that would do the patient, … [Read more...] about The manufactured “kiddie tax” crisis, explained
The SECURE backdoor into 529 assets
Become a Patron! I've written extensively in the past about 529 College Savings Plans, an extremely tax-advantaged method of saving for higher education expenses. Contributions are made after federal and state taxes (although many states offer in-state tax deductions for contributions), compound internally tax-free, and are withdrawn tax-free for "qualified higher education … [Read more...] about The SECURE backdoor into 529 assets