If you’re like many people in their working years, you may regularly contribute to your retirement accounts to build your savings for the future. An important thing to remember is that once you reach a certain age, you will be required to start taking withdrawals (also known as required minimum distributions, or RMDs) from certain accounts and pay income taxes.
Financial literacy is a major concern for many. So much so, there's an entire month, April, designated as National Financial Literacy Month. Despite this, the unfortunate truth is that financial literacy is often something many Americans struggle with. You can become financially literate so you can confidently manage budgets, debt investments, retirement, emergencies, and savings. Here’s what you need to know.