What is the 403(b) Retirement Plan? – Overview

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Even though the 401(k) is the most common retirement account in the United States, not everyone has access to such a plan.

Those who work for governments, schools and non-profit corporations don’t have access to an employer-sponsored 401(k).

If you don’t have access to a 401(k), you can, of course, open an IRA.  However, the contribution limits are fairly low, which can be discouraging if you want to contribute a higher amount toward a successful retirement.

The good news is that many hospitals, schools, non-profits (including churches), and governments have their own retirement account offering: The 403(b).

What is the 403(b)?

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New Technology Makes Shopping With Your Credit Card Easier

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Most of us can’t remember a time when credit cards weren’t a part of our wallets.

Remember the Diner’s Club card?

Credit cards actually go back to the 1920′s when gas station attendants wanted to provide a system of payment for the increasing amount of automobiles on the roads.  The first cards were made out of card stock making them easy to counterfeit but as is the case with every good idea, evolution took over.

As of this year, of the households who have a credit card balance, the average amount of debt is $15,956 per household which equals total outstanding balances of $609.8 billion nationwide.

The evolution of the credit card is far from over.

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How to Make the Most of Your Liberal Arts Degree

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When I graduated from high school, I knew there were two things that I loved—reading and writing. 

I told everyone I knew that I wanted to be a writer, and the majority of them asked, “But what will you really do?”

My eighteen-year-old self felt misunderstood, but now that I have children of my own, I understand the question much better.   I majored in English, and my husband majored in anthropology; no offense to other poor souls in these majors, but fresh out of school, there is not much that you can do with degrees in these areas.
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New Federal Regulation for 401k Fee Transparency Rules

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Do you know how much it costs you on an annual basis to simply participate in an employer-sponsored 401k plan?

If you’re savvy, you probably already know that the mutual funds you select within your 401k plan have expense ratios.  That number shows how much out of every dollar invested you give to the mutual fund company to manage the fund.

On average actively managed mutual funds cost around 1% of invested assets (or $100 for every $10,000 invested).

But if you think that is the only fee being charged to you, prepare for a shock.

New 401k Fee Transparency Rules

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Apple Announces New iPad and Links

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Apple announced the new, third generation of the iPad this week to much fanfare.

Oddly enough Apple isn’t calling it the iPad 3… just “the new iPad”.

It’s just iPad?

That goes against Apple’s naming convention.  That plus the debut of a color splashed version of the Apple logo have some tech journalists wondering if Apple is going to change things up again on the logo side.

iPads are expensive devices.  Well built and entertaining, but other than a sharper display is there that much difference between the original iPad, the iPad 2, and now the iPad 3?

Not significantly.  Will you be buying one?

Before you run off to spend $500 on the new device, make sure your finances are in good shape. These great reads can help you on that end:

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What Business Expenses are Tax Deductible?

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When it comes to reducing business income for tax purposes, the tax deduction is one of the most popular methods.

You can deduct some of the money you spend on business and lower your taxable income.

However, it’s important that you understand what makes an expense tax deductible for business purposes.  Otherwise, you could find yourself red-flagged by the IRS.

But What Business Expenses are Tax Deductible?

Ordinary and Necessary Expenses

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Ten Quicks Tips to Save on Gas Costs for Your Car

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Gas prices!

Everyone loves to comment on the rising prices of gas including politicians, the media and the guy who took my order at the coffee shop this morning.

The process behind determining the price of gas is one that most of us will never understand.  Some people just accept that prices are high and they have to pay it, but there is something you can do:

You can choose to save money on the high cost of gas.

Extreme Measures

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Contemplating Marriage? Love Is Not All You Need

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Close up of young couple fighting

The Beatles famously sang, “All you need is love, love, love, love is all you need.”

So many of us buy into this simplistic belief and think that love conquers all.

Many of us rush into marriage and ignore the red flags that are before us, thinking problems will work themselves out after we are married.  The sad truth is that marriage often serves to amplify problems, not solve them.

Kathy Chu of USA Today puts it perfectly when she states,

“If love is the tie that binds couples together, money is often the wrench that pries them apart.”

Maybe in the past arguments about money in marriage could be blamed on societal pressures for people to marry early and for the expectation of the wife to quietly allow her husband to make the financial decisions, but those days are long gone in our society.

Now, women often make more than the men they marry.
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How to Invest In The Facebook IPO

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You almost have to have been living under a rock lately not to know that Facebook is about to become a publicly traded company and issue shares of stock.

Earlier in February, Facebook filed paperwork with the Securities and Exchange Commission (SEC) to start the process of offering shares of stock to investors in an initial public offering (IPO).  But, it will be next to impossible for the average individual investor to get in on the IPO action in the beginning when the stock starts trading.

Investment banks that handle the transactions for Facebook take care of themselves, their best institutional clients, and other mutual funds before regular small investors like you and me are able to buy shares.

Why It Is So Hard For Individual Investors

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GM Suspends Volt Production and Links

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General Motors has temporarily suspended the production of the Chevy Volt for at least five weeks in order to sell off the current high level of inventories it has of the vehicle.

This could be a landmark turn for electric vehicle production in the United States, which hasn’t taken off like manufacturers have wanted.

Will the line come back to life in a few weeks as demand picks up or will it be shuttered long term?

Only time will tell.

Saving money on gas with an electric vehicle is just one way to save. Use these articles to save in other ways:

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