Budget vs Spending Plan

Post published:February 10, 2023
Post author:Ms. Black
Reading time:0 mins read

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Staying in the Black

Stay in the Black is dedicated helping teachers get their money straight and live their fullest life on a public servant salary Are you a teacher living check to check? Are you worried about your student loans? Can you afford to purchase a home? Can you afford to have children or send them to college? In this podcast we will cover pensions, student loans, side hustles and ways to maximize and expand your finances. We will also cover budgets, saving, credit and more! You will find information, interviews, book reviews and you will leave with action steps to help you Stay in the Black, for more go to stayingintheblk.com

in this episode Ms. Black talks about how to leverage a Roth IRA to prepare for retirement at any age.

Roth IRA contribution (for 2023 $6,500 annually, or $7,500 if you're age 50 or older)

Roth IRA salary caps
URL: https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2023

Compound interest calculator
URL: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator

NYC Public School teachers can contribute in the Roth option of the 457 (Deferred Compensation) $22,500 under 50 and $30, 000 over 50

Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.

Learn more about Ms. Black:

Website: http://www.stayingintheblk.com

Instagram:@stayingintheblk