Tips, advice, and the latest news from the savings world.
By FINRA Investor Education Foundation
You have to pay income tax on your pension and on withdrawals from any tax-deferred investments—such as IRAs, 401(k)s, 403(b)s and similar retirement plans, and tax-deferred annuities—in the year you take the money. The taxes that are due reduce the amount you have left to spend.
By Amy Maliga, Take Charge America
This blog post has been modified from the America Saves blog.
If you feel guilty about wanting to return or exchange a not-quite-right gift you received during the holidays, don’t! You’re not alone. The National Retail Federation estimates that Americans return or exchange more than $50 billion worth of gifts every year.