Financial Knowledge All Adults Should Know?

[hutchphd]

Money not spent is always nontaxable "income".

 

[Astronuc]

Fortune has some good information on 401Ks
https://finance.yahoo.com/news/401-k-plan-quit-retire-150200268.html

Some people who have multiple jobs (sequentially) should know this.

 

[Vanadium 50]

I read that article, and while it usually pretty good, I find the advice to consolidate retirement accounts "lest you forget about them" seemed a little...um...odd. Who forgets about people who have your money? There is a very good reason to leave it where it is: some investments might only be available under the old plan.

 

[Imager]

Another benefit is separating the risk of a single financial institution bankruptcy. While funds are usually insured, the funds would be tied for a while.

 

[Vanadium 50]

Well, I doubt Fidelity or TIAA-CREF is going under any time soon. "Crazy Sammy's Bitcoin Bank and Bait Shop" on the other hand...