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Retirement Planning

Excess Contribution

An IRA contribution that surpasses the maximum legal limit is considered an excess contribution and is subject to penalty taxes. These taxes are imposed for each year that the excess contribution remains in the account. It is important to stay within the contribution limits to avoid these penalties and maximize the benefits of your IRA.

Vested

It means that after a certain period of time, you will have full rights to those contributions and any earnings they have accrued. Understanding the concept of vesting is c...

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Annuity

An annuity involves an investor providing cash to a vendor, typically an insurance company, in return for the promise of a series of periodic payments. These payments can be...

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Investment Portfolio Definition

A key concept in finance is the investment portfolio, which refers to a collection of assets owned by an individual or institution. These assets can include real estate and ...

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Matching Contributions

A crucial aspect of 401(k) accounts is the employer contribution, which is determined by the individual's own contributions. This means that for every dollar the individual ...

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