Amanda Stanhaus

Receipt

Slip of paper with the details of my purchase, $ amount, name and partial credit card #. I like to keep these.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

401 (k)

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40-what?

I hadn’t finished my first day and human resources (HR) already brought up how it’s going to end. Not already! But eventually, I’ll be retired and living off my 401(k).

(click on the bold-faced vocab words:))

Once I set it up, my 401 (k) will be automatically filled with a cut of my paycheck and invested in the vehicle of my choice.

Porsche? No…investment vehicle options include bondsstocksmutual funds and etfs.

Each company’s plan is different, but perks can include:

  • $ invested before Uncle Sam takes a bite from my paycheck.
  • $ made from the investments does not have to answer to Uncle Sam until withdrawn.
  • Each contribution can have an identical twin, courtesy of my company.

Never thought I would have a desktop clock counting down the seconds till I turn 65.

Hope I look as fabulous as Iris then!

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Registered Retirement Savings Plan

RRSP. Canadian’s tax-friendly way to save for retirement.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)