The 401(k) plan is one of the most successful plans, chalked out for working professionals in the country. A specific amount of money is deducted from the employee’s salary every month, which contributes to the retirement savings. Almost all the companies provide a 401(k) plan to their employees. However, there are still some that fail to offer any kind of retirement plan to their employees. In such cases, it is not difficult to find alternatives on your own and start saving for your retirement. Here is a list of 6 best alternatives to a 401(k) plan. Traditional IRA A traditional Individual Retirement Account is an alternative to the popular 401(k) plans. You can contribute an amount from your salary to the traditional IRA and gain tax benefits by doing so. The tax is not deducted from the amount unless the amount is withdrawn from the account after retirement. SEP IRA The Simplified Employee Pension Individual Retirement Account is adopted by businesses to provide retirement plan options to their employees. It is especially useful for freelancers who do not have any company title to their name and have to individually opt for a retirement plan. Investment Account This type of an account allows people to deposit a certain amount of money in the account, which is not only taxable but is also considered as a security.

While having a checking account seems like the most basic need when it comes to financial management, being aware of a certain do’s and don’ts will also help you out to make the most of your checking account. Here are the top seven mistakes to avoid with your checking account so that you do not end up losing more than gaining: Not having enough balance to cover your expenses The whole point of having a checking account is to have enough funds in order to save up to satiate your basic needs. You should always have enough money in the account to cover your main expenses so that you can use it for automated billing, groceries, utilities, and make the most of all the services you get. Having a surplus lying in your checking account While maintaining a basic balance is very helpful, having too much money lying around in the checking account is not worth it. There are lucrative interest rates that your bank gives you in order to maintain the checking account, but having a lot of money, which can be used someplace else for higher returns is not wise at all. Not having a bank which has easy access to your location One of the worst mistakes to make while opening a checking account is not having an ATM near your workplace or house.

Working in a new country comes with its share of pros and cons. You might have found a new job in the country of your dreams and everything seems to be dreamy and right. You start making arrangements for your new life and enjoy the thought of going to a place where no one knows you. Living in another country can interrupt the balance of your finances. The expenses might increase than your savings and income too. How would you be able to manage this financial imbalance? It is confusing especially if you do not know how to go about it. Have a look at these 9 ways that will help you manage to maintain the credit score, being an expat. Pay your dues on time Leaving your country for chasing your dreams is fine but delaying your unpaid bills might be a huge crisis. Make sure you clear your dues before leaving so you can have a stress-free life in the new country. Expats always pay their dues on time. If you have a nationalized bank then things might take time to process. But if you are affiliated with an international bank with various branches, you will be in big trouble.

Building savings is a tough task and it takes a lot of patience to collect those funds for the betterment of the future. Savings can be made in different ways. Some people cut costs to put some money away to save, while some people try and earn extra every month to build some savings. This process is extremely personal and varies based on the type of earning, the amount of earning, and the saving psychology of an individual. The banks help you in building a balance through Certificate of Deposit, CDs. Read on to know more about CDs. What is a CD? A Certificate of Deposit is a certificate issued in exchange of a deposit made in a CD account. This deposit is kept in the bank for a fixed time period and earns a fixed interest rate from the bank. The CD is given a maturity date after which the money can be withdrawn. The withdrawal money is the initial money deposited plus the interest earned on it. When a Certificate of Deposit is created, the money deposited in the account is locked away for a certain period of time and can be withdrawn only after paying a fine.

A 401(k) is a retirement plan dedicated to the working professionals of the country. It is beneficial for the employees in the long run as it provides a security after retirement. It allows employees to invest a specific amount of their salaries for their future. The returns are reliable and guaranteed. A specific amount is automatically deducted from the salary of the employees before it is even taxed. Companies may also match the amount if they wish to. The amount is kept unused by the employees as they do not have to pay any taxes for it. The company is required to lay certain rules and eligibility criteria for the employee to be able to opt for the programme. The deductions are done after a voluntary decision taken by the employee and the organization. The employees are not allowed to withdraw the money before 59 years of age unless they retire early. Doing so incurs a penalty of 10%. The organization can also receive certain tax exemptions in consequence of the contributions made by the employees. The employees are free to decide whenever they want to stop investing in the 401(k). To make things simpler, there are online forms available for signing up for a 401(k) plan.

Senior citizens or retirees are always good at financial management and the reasons are not too difficult to understand. They usually have substantial funds that are saved in a form of a deposit with the bank, and they draw money from it. Unlike the account of a working professional, these accounts do not get funded only once a month, after which it’s all downhill till the next payday. Senior citizens maintain various accounts with banks, so the banks also offer various perks for them. Also, unless the bank has done something really drastic to offend them, retirees are usually not too demanding. Many banks have certain features that are chalked out for retirees. Let us see what are a few things that a retiree would want from his/her bank. The rate of interest is by far the single biggest factor which determines how a bank can qualify to be the best bank for retirees. The reason is that retirees do not have a monthly source of income, and their sole income is usually from the interest earned on their life’s savings which they have deposited into their bank account. Usually, banks do have better rates for senior citizens, but there are certain banks which go the extra mile in offering more attractive rates to their retiree account holders.

Florida is a modern state with plenty of banking options. It has more than 200 local and national banks operating round the clock to provide financial services to all age groups and sections of the society. Here is a review of the best banks in Florida to help you choose one for your financial requirements. BBVA Compass BBVA Compass is Florida’s top choice for a free checking account. This bank does not attach any activity requirements to the checking account, making it very easy to get and maintain one. The Compass ClearChoice account does not need its customers to keep a minimum balance in the account, and there is also no monthly fee in the form of maintenance charges. TD Bank TD Bank is well known in Florida for its amazing customer service. The bank provides flawless mobile, online, and ATM services that have made its customers very happy and loyal over time. This bank manages to lure individuals from all strata of society by providing simplistic options like a checking account that costs nothing if you maintain $100 in the account at all times. TD Bank is also a favorite among students because of its widespread presence in the east coast and college campuses like UCF and the University of Florida.

North Carolina has dozens of consumer banks providing services to residents, but only a few of them offer excellent products and services. Finding a good bank in North Carolina is all about finding a financial institution that fulfills all needs and does not charge a hefty fee in return. Also, one major factor behind deciding a bank’s worth is its accessibility. Following is a list of the best banks in North Carolina which are well known for their innovative financial products and appreciable customer service. First Citizens Bank This bank is a mid sized bank with almost 250 branches in North Carolina. This number of branches makes this bank one of the easy to access banks. Furthermore, this bank provides the option of opening a free checking account with an initial deposit of around $50. This account also has other features like online bill payment, optional overdraft facilities, and free mobile banking. First Citizens Bank is the largest bank in North Carolina and is preferred by the locals for its various financial services. BB&T This is the largest bank in North Carolina with 342 branches in the state. It provides one of the best branch access in the state and is loved for its great checking options.

Checking accounts have become the most used financial products in the country. These accounts are offered by almost all of the banks in the country and can be found with various benefits along with the standard features. A good online checking account will give you easy ATM access along with high-interest rate. These two features are rare to find together but there are some banks that manage to do the best in providing both the access and the interest. Following is a list of few banks in Oklahoma that are the best when it comes to opening checking accounts. Redneck Bank Redneck Rewards Checking offers an APY of 2.25% to its customers. This percentage makes this account the highest earning option for the people of Oklahoma. This account needs its customers to select paperless statements along with posting at least 10 debit card transactions in a month to earn the full APY. If the customer fails to follow these two steps, the bank reduces the APY to 0.50%. Despite this reduction, the Redneck Rewards Checking is the best checking option if you are looking for online checking solutions. Not many people know this but Redneck is the Internet Banking division of All America Bank which is based in Oklahoma.

National banks receive a lot of criticism from the residents of the country for their rates and services but two things that they provide better than the localized banks are: a comprehensive range of products and better accessibility. There a dozen nationalized banks in Oregon but the following are the top recommended banks based on different financial needs. These are the best banks in Oregon for banking. Chase Bank This bank is one of the 5 top banks in the country. It is well known for its accessibility usability and affordability. This bank should be considered for a strong mix of online banking features, access to other financial products and excellent ATM coverage. The Chase Total Checking account is one of the most popular products that is offered by Chase bank. This account costs $12 every month you can receive a $500 in direct deposits or maintain a minimum daily balance of $1,500. Chase is the perfect national bank for all the financial needs supported by good online banking options. Wells Fargo Wells Fargo is the most loved personal and business bank in the country. This bank has 6,200 branches and 10,000 ATMs across the country making it one of the easiest banks to access.

Most people under the age of thirty plan a lot of things during this age, but fail to secure their finances for their future. Saving becomes a burden as expenses are never ending. There would be a lot of advices coming from the older generation regarding the same, but it’s given a deaf ear. So here are few advices that will help you sort your finances and secure your future. Know your bank account well There are checking accounts, savings accounts and some other accounts where you can save and get access to your funds. But the correct balance needs to be maintained between these accounts, otherwise unnecessary charges would be levied over you. It is of no use, for example, to have 3 or 4 credit card accounts and just one bank account. Local banks can be used to have free checking accounts, while interest-yielding checking accounts are available as well. Systematic savings As soon as the paycheck gets deposited into the checking account, an automatic debit system can be setup to transfer a certain amount of money the same day into your savings account. This will help you save on a lot for any future emergencies. If you wait to complete all your monthly fixed and discretionary expenses before putting away your savings, then you can rest assured that you might miss on a lot of savings.