What exactly is lifestyle creep? Lifestyle creep is the gradual increase of your spending as your income increases. The danger of lifestyle creep is that it happens gradually over an extended period, making it hard for you to notice. If you want to make sure you are building wealth as your income increases read these four points to keep your financial life on the right path.
Ideally, no one wants to enter retirement during a prolonged and significant market decline. After all, a market shock reduces a client portfolio's value, diminishing the amount that can safely be withdrawn. There are levers that can be pulled to help increase your chances of meeting your retirement goals even during dips in your account values.
It can be tough to pass up a tax break by choosing Roth 401(k) contributions over traditional deferrals, but you need to think ahead when saving for retirement. Paying taxes now might help you save thousands – or even tens of thousands – in net taxes. That is additional money that can come in handy in retirement.
