Finance

Perhaps you have wondered, though, why it is necessary to have separate checking and savings accounts? Why can’t the two simply be combined into one account to make your life a little easier? You may find the answer to that question in the form of a money market account.

Retirement is within reach when you make the right decisions at an early stage in life. Planning is the most important action to take when saving for retirement since it ensures that you are setting aside enough money to live comfortably while eliminating worries about your future. Once you have developed a retirement plan, you can spend the rest of your life focused on your short-term priorities without having to lose sleep over the possibility of working until you die. Taking the time to develop a retirement plan today will, therefore, set you on a path to a bright financial future.

A target date fund is one of many long-term investment options. You may have the opportunity to choose a target date fund for your 401(k), or you may be interested in getting one from a separate provider. Before you invest, it’s important to understand how target date funds work and what their pros and cons are.