Money Matters 生財有道

Every quarter, two envelopes compete for my attention: the custodian’s statement and my advisor’s report. The statement is the receipt; the report is the story. Here is how I read the story — in the order the money moves.每季有兩個信封搶我的注意力：保管機構的對帳單，和顧問的報告。對帳單是收據；報告是故事。這是我讀故事的方法——照著錢移動的順序讀。 The First Number第一個數字 I start with the ending value: what the portfolio is worth today. Then…

Four accounts run American retirement saving: the 401(k), the IRA, the Roth, and the conversion. They are not four rival products — they are two kinds of account, one tax flavor, and one move between them.美國人的退休儲蓄，繞著四個名字轉：401(k)、IRA、羅斯（Roth）、轉換（Conversion）。它們不是四種互相競爭的商品——而是兩類帳戶、一種稅務口味、和一個搬錢的動作。 What the Names Stand For這些名字的由來 401(k) is not a model number. It is a paragraph of the US tax…