401(k) Plan: Start off knowing what exactly this plan actually is. A 401(k) plan is a tax-deferred retirement plan that is offered through your place of employment. The plan can be a cash election, profit-sharing, or stock bonus plan, or a salary reduction per paycheck plan. This plan will help you save for future retirement. Planning wisely will make for the best returns come retirement time.

Accrued Benefits: This describes the benefits an employee with a 401(k) plan has already amassed to date based upon their salary and work time put in thus far.

Annuity: This is a contractual agreement where the insurance company is held to make regular payments to someone for the rest of their lifetime or an agreed upon time frame.

Auto Enrollment: Sorry, you're not getting a new car. This is actually the practice of enrolling all eligible employees in a retirement plan without their request to participate. If the employee wants to opt-out, they must file a request with HR.



Brokerage Window: In some cases, this is the glass pane where you can peek into the broker's office, but for our purposes, a brokerage window is when a 401(k) plan allows for employees to invest in stocks and funds offered by a brokerage firm and part of the employer's plan.

Elective Deferral: The amount an employee contributed to a 401(k) plan, either pre-tax or as Roth contributions if the employer's plan offers a Roth option. *See "Roth" below.

Employer Matching Contribution: Some employers will put money towards their employees' savings plans. Matching contributions are usually a set percentage of what the employee puts in, up to a fixed limit.

Employer Discretionary Contributions: Employers may have a plan at the end of the year for increased matching contributions or profit sharing. These are tax-deductible expenses.

ERISA: This stands for The Employee Retirement Income Security Act, established in 1974. This act sets standards for 401(k) plan administrators and holds up the same rights and regulations for all plan participants across the board.

Fixed Match: No, not a tennis game with a pre-determined winner, but a matching employer contribution that must be contributed each year to an employee's plan as part of the agreement unless otherwise amended.

Individual Retirement Account (IRA): This is a retirement plan that is person and tax-sheltered. Employees who work for a company that doesn't offer a 401(k) may opt for an IRA instead.



Longevity Risk: We all hope to have enough money saved to cover our expenses for the rest of our lives, but a longevity risk is the chance of outliving one's savings. Hopefully, we are all covered for life by contributing as much as possible during our working years.

Participant: This is the person who is eligible to make contributions to a 401(k) plan or to share in an employer's contributions to a 401(k).

Plan Provider: This is the company or firm that develops and sells the 401(k) plan to your employer. This may be a mutual fund company, an insurance company, a brokerage firm, or another related financial services institution.

Plan Sponsor: In a nutshell, your employer. The plan sponsor is the party that offers the 401(k) plan to their employees. They are responsible for choosing the plan and the provider and which investment options will be delivered by the plan.

Pre-tax: Contributions are put into a 401(k) before taxes are calculated. The employee's gross pay is then reduced by how much is put into the plan.

Retirement Plan: This is a plan person makes to set aside income for use during retirement. A 401(k) is an example of such a plan.

Roth 401(k): This is a special feature of a 401(k) plan that lets employees make contributions on an after-tax basis. The money will grow tax-free and can be withdrawn tax-free once the employee reaches the age of 59½ and has had the account for 5 or more years.

Tax-Deferred: Until money is withdrawn from a 401(k), no federal income tax is paid on contributions or earnings.

Vesting: This is the period of time an employee must work for an employer before they are eligible for a 401(k). Some employers start immediately while others require a year or more of employment.

It's time to prep for retirement. With this 101 on 401(k), you're on the path to saving for the "golden years!"

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Over the past month, both Haiti and Afghanistan have been pummeled by tragic disasters that left devastation in their wake.

In Haiti, a 7.2 magnitude earthquake erupted, leading over to 2,189 deaths and counting. A few hours later, in Afghanistan, Kabul fell to the Taliban just after U.S. troops had pulled out after 20 years of war.

In many ways, these disasters are both chillingly connected to US interference. The United States invaded Haiti in 1915, ostensibly promising to restore order after a presidential assassination but really intending to preserve the route to the Panama Canal and to defend US creditors, among other reasons.

But the US forces soon realized that they were not able to control the country alone, and so formed an army of Haitian enlistees, powered by US air power and intended to quell Haitian insurrection against US controls. Then, in 1934, the US pulled out on its own, disappointed with how slow progress was going. Haiti's institutions were never really able to rebuild themselves, leaving them immensely vulnerable to natural disasters.

Something similar happened in Afghanistan, where the US sent troops and supported an insurgent Afghan army – only to pull out, abandoning the country they left in ruins, with many Afghans supporting the Taliban.

In both cases, defense contractors benefited by far the most from the conflict, making billions in profits while civilians faced fallout and devastation. While the conflicts and circumstances are extremely different and while the US is obviously not solely to blame for either crisis, it's hard not to see the US-based roots of these disasters.

Today, in Haiti and Afghanistan, civilians are facing unimaginable tragedy.

Here are charities offering support in Afghanistan:

1. The International Rescue Committee is looking to raise $10 million to deliver aid directly to Afghanistan

2. CARE is matching donations for an Afghanistan relief fund. They are providing food, shelter, and water to families in need; a donation of $89.50 covers 1 family's emergency needs for a month.

3. Women for Women International is matching donations up to 500,000 for Afghan women, who will be facing unimaginable horrors under Taliban control.


4. AfghanAid offers support for people living in remote regions of Afghanistan.

5. VitalVoices supports female leaders and changemakers and survivors of gender-based violence around the world.

Here are charities offering support in Haiti:

1. Partners in Health has been working with Haiti for a long time, and they work with the Department of Health rather than around them, which is extremely important in a charity.

2. Health Equity International helps run Saint Boniface Hospital, a hospital in Haiti close to the earthquake's epicenter.

3. SOIL is an organization based Haiti, "a local organization with a track record of supporting after natural disasters." They are distributing hygiene kits and provisions on the ground to hospitals and to victims of the earthquake.

4. Hope for Haiti has been working in emergency response in Haiti for three decades, and their team is comprised of people who live and work in Haiti. They focus on supporting children and people in need across Haiti.

via Tiffany & Co.

When the new Tiffany's campaign was unveiled, reactions were mixed.

Tiffany's, the iconic jewelry brand which does not (despite what some might be misled to believe) in fact serve breakfast, featured Jay Z, Beyoncé, and a rare Basquiat painting in their recent campaign.

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Road trips can be a lot of fun — but they can also drain your wallet quickly if you aren't careful.

From high gas costs and park admission fares to lodging and the price of eating out every night, the expenses can add up quickly. But at the same time, it's very possible to do road trips cheaply and efficiently. Without the headache of worrying about how much money you're leaking, you can enjoy the open road a whole lot more. Here's how to save money on a road trip.

1. Prepare Your Budget, Route, and Packing List in Advance

If you want to save money on a road trip, be sure you're ready to go. Try to count up all your expenses before you hit the road and create a budget. It's also a good idea to plan your route in advance so you don't end up taking unnecessary, gas-guzzling detours. And finally, be sure to pack in advance so you don't find yourself having to buy tons of things you forgot along the way.

2. Book Cheap Accommodations — Or Try Camping

All those motel rooms can add up surprisingly quick, but camping is often cheap or free, and it's a great way to get intimate with the place you're visiting. You can check the Bureau of Land Management's website for free campsites. Freecampsite.com also provides great information on If you don't have a tent or don't want to camp every night, try booking cheap Airbnbs or booking hotels in advance, making sure to compare prices.

Camping camping road tripConde Nast Traveler

If you're planning on sleeping in your car, a few tips: WalMart allows all-night parking, as do many 24-hour gyms. (Buying a membership to Planet Fitness or something like it also gives you a great place to stop, shower, and recharge while on the road).

3. Bring Food From Home

Don't go on a road trip expecting to subsist on fast food alone. You'll wind up feeling like shit, and it'll drain your pocketbook stunningly quickly. Instead, be sure to bring food from home. Consider buying a gas stove and a coffee pot for easy on-the-go meals, and make sure you bring substantial snacks to satiate midday or late night cravings so you can avoid getting those late night Mickey D's expeditions.

Try bringing your own cooler, filling it with easy stuff for breakfast and lunch — some bread and peanut butter and jelly will go a long way. Bring your own utensils, plates, and napkins, and avoid buying bottled water by packing some big water jugs and a reusable water bottle. Alternatively, try staying at hotels or Airbnbs with kitchens so you can cook there.

4. Avoid Tolls

Apps like Google Maps and Waze point out toll locations, so be sure to avoid those to save those pennies. (If it takes you too far off route, you might have to bite the bullet and drive across that expensive bridge).

You can also save on parking fees by using sites like Parkopedia.

Road Trip Road TripThe Orange Backpack


5. Save on Gas

Gas can get pricy incredibly fast, so be sure that you're stopping at cheap gas stations. Free apps like GasBuddy help you find the most affordable gas prices in the area. Also, try going the speed limit on the highways — anything faster will burn through your tank. Be sure that you don't wait till you arrive at touristy locations or big cities to fill up.

6. Get a National Park Pass

All those parks can get really expensive really fast. If you're planning on visiting three or more parks, it's a great idea to get an America the Beautiful National Parks Pass. For $80 you can get into every National Park for one year.