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Money walkthrough

Every SumLoft guide filed under Money walkthrough. Practical, plain-English walkthroughs, ranked on what actually matters.

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A three-storey red brick institutional building with a gabled entrance and tall chimneys, seen across a wide green lawn with a path where several people are walkingLatest in Money walkthrough
Money walkthrough

457(b) Plan Distribution Rules, Limits, and Withdrawals

This explainer covers 457(b) plan distribution rules, who sponsors the plan, the governmental split, deferral limits, and the separation-from-service quirk.

· 29 min readRead the guide →
A hand turning a small metal dial on a wooden panel marked with a curved row of dotsMoney walkthrough

How to Fill Out a W-4 So You Don't Owe in April (7 Steps)

This worksheet shows how a W-4 turns into a withholding amount, why a second job under-withholds by default, and how to fix a refund or a bill that is wrong.

· 36 min read
A hand turning a metal knob mounted on a wood panel, with small dots marking positions around itMoney walkthrough

How to Max Out Your 401(k) Before Year End (6 Steps)

This worksheet backs out the per-paycheck percentage that maxes out a 401(k) before year end, counting the pay periods left and guarding the employer match.

· 35 min read
A white ceramic piggy bank on a pale wooden surface beside four stacks of coins that rise in height and a folded pile of banknotesMoney walkthrough

Retirement Withdrawal Order: Which Account to Tap First

This walkthrough covers retirement withdrawal order: why taxable money usually goes first, when bracket filling reverses it, and how RMDs override the plan.

· 29 min read
Wooden blocks stacked into a rising staircase against a pale background, with one loose block sitting apart from the stackMoney walkthrough

What Is a CD? How Certificates of Deposit Work

This explainer covers how a certificate of deposit works, the term for rate trade, early withdrawal penalties in months of interest, CD ladders and variants.

· 34 min read
A calculator, a stack of printed pages and a mug of coffee on a sunlit wooden deskMoney walkthrough

How to Manage Money With a Partner

This walkthrough sets up money with a partner in nine steps: the first conversation, joint or separate accounts, a proportional bill split, a solo-spend rule.

· 39 min read
Two adults sitting side by side at a wooden kitchen table with an open laptop, loose printed sheets and a notebook, one of them writing with a penMoney walkthrough

Retirement Account Beneficiary Rules Explained

This explainer covers retirement account beneficiary rules: why the form outranks your will, primary versus contingent, per stirpes, trusts, and reviews.

· 31 min read
Four stacks of coins rising in height on a wooden surface beside the corner of a blank calendar grid, lit against a dark blue wallMoney walkthrough

What Are I Bonds? How Do I Bonds Work

This explainer covers how I bonds work: the two-part rate built from a fixed piece and a resetting inflation piece, the lock-up and forfeit, and who it suits.

· 36 min read
Two pairs of brown-framed reading glasses, a compartmented pill organizer, a coiled black stethoscope, a blank spiral notepad with a silver pen and a stack of pale blue folders on a light wooden tableMoney walkthrough

Healthcare Costs in Retirement: How to Plan

This walkthrough prices healthcare costs in retirement across three separate phases: the pre-Medicare bridge, the Medicare years, and long-term care risk.

· 31 min read
Two glass jars on a light wooden table by a window, the left one open with loose coins inside and more scattered across the table, the right one sealed under a wooden lid with coins stacked in neat columnsMoney walkthrough

Taxable Account vs Retirement Account: Where to Save

This comparison covers taxable vs retirement account order: what the match is worth, what tax drag really costs, and the four cases where a brokerage wins.

· 30 min read
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What Is a Target Date Fund? How It Works and the Glide Path

Target date fund explained: what it is, how these funds work, how the glide path shifts stocks into bonds, the to versus through split, and the fees inside.

· 34 min read
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How Much Social Security Will I Get? How to Estimate

This walkthrough shows how much Social Security you will get: the earnings formula, bend points, the 35 year rule, and how to read your own SSA statement.

· 33 min read
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How to Do a Roth Conversion (and When It Pays)

This walkthrough covers how to do a Roth conversion: the mechanics, the rate now versus rate later test, the pro-rata trap, and paying the tax from outside.

· 29 min read
A glass jar of coins and a blank grid-ruled paper sheet beside a pair of round eyeglasses on a wooden desk near a windowMoney walkthrough

Required Minimum Distributions (RMDs), Including Roth IRAs

Required minimum distributions explained, including whether Roth IRAs have RMDs, how the calculation works, the aggregation and timing traps, and the penalty.

· 33 min read
Three tan paper envelopes with cash tucked inside, lined up on a table beside a blank notebook, a pen and a mugMoney walkthrough

The 50/30/20 Budget Rule: How to Actually Use It

This breakdown puts real numbers on 50/30/20: what each bucket holds, gross versus net, why 50 percent needs often fails, and how to adapt it to real costs.

· 28 min read
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UTMA vs 529 Plan: Which Fits Your Savings Goal

This explainer compares UTMA vs 529 plan: who legally owns the money, how each is taxed, the aid math, what the money can buy, and when using both fits.

· 29 min read
Two people seated at a light wood table in a bright room, a printed sheet of paper on the table between themMoney walkthrough

What Is a Fiduciary Financial Advisor?

This walkthrough explains what a fiduciary financial advisor owes you, how each fee model shapes advice, and the questions to ask before you hire anyone.

· 31 min read
A person in a blue denim shirt working at a white desk with a laptop, an open notebook and a blue mug, in a bright room with a curtained windowMoney walkthrough

What Is a Solo 401(k)? Rules and Contribution Limits

This explainer covers what a Solo 401(k) is: who qualifies, the two-hat contribution structure, the Roth and loan options, deadlines, and the SEP IRA math.

· 30 min read
A person sitting at a kitchen table resting their chin on one hand while looking at an illuminated screen on a laptopMoney walkthrough

Do You Need a Financial Advisor for a Roth IRA?

This walkthrough explains whether you need a financial advisor for a Roth IRA, what one adds, fee models against the DIY route, and when advice pays off.

· 24 min read
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What Is a Pension? How It Works vs a 401(k)

What is a pension? This explainer covers defined benefit plans, benefit formulas, vesting, survivor and lump sum elections, and pension versus 401(k).

· 28 min read
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How Long Will My Retirement Savings Last? The Real Math

This walkthrough answers how long will my retirement savings last: the withdrawal rate math, sequence of returns risk, and what actually moves the number.

· 29 min read
Four glass jars with blank labels in a row on a wooden counter, each holding a different amount of coins, suggesting the different types of retirement accountsMoney walkthrough

Types of Retirement Accounts: The Differences, Explained

Types of retirement accounts differ on tax timing, contribution limits, and access rules: 401(k), 403(b), IRA, Roth, HSA, annuities, and pensions, mapped.

· 29 min read
A wooden footbridge crossing calm water in misty light, the crossing an old 401(k) makes after a job changeMoney walkthrough

What Happens to Your 401(k) When You Leave a Job? 4 Options

This walkthrough answers what happens to your 401(k) when you leave a job: the four options, vesting, rollover mechanics, and what cashing out commonly costs.

· 28 min read
A row of glass jars holding steadily more coins on a table, suggesting the birth-year schedule that sets the Social Security full retirement ageMoney walkthrough

What Is the Full Retirement Age for Social Security? By Year

This walkthrough answers what is the retirement age for Social Security: full retirement age by birth year, early claiming cuts, and delayed credit math.

· 29 min read
Two open hands receiving a small stack of coins over a wooden table in warm light, suggesting an employer adding matching money to an employee's retirement savingsMoney walkthrough

What Is a 401(k) Match? How Employer Matching Works

This explainer covers what a 401(k) match is: how employer matching formulas work, vesting, true-ups, and the math that makes the match worth grabbing.

· 28 min read
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Backdoor Roth IRA: How It Works (Step by Step)

This explainer covers the backdoor Roth IRA: how earners over the Roth income limit fund a Roth by contributing to a traditional IRA, then converting it.

· 25 min read
A desk calendar, a stethoscope, stacked coins, and a piggy bank arranged together on a light surface in cool lightMoney walkthrough

HSA vs FSA: Key Differences (and Which to Pick)

This explainer compares HSA vs FSA: ownership, rollover, contribution limits, investing, eligibility, having both, and which account fits your situation.

· 31 min read
A family sitting together on their front porch steps in warm evening light, the settled home life a steady income is meant to supportMoney walkthrough

What Is an Annuity? (Types & How They Work)

What is an annuity? This explainer covers the insurance contract that pays retirement income, its main types, phases, fees, riders, pros, and the honest cons.

· 35 min read
An upward escalator in a bright modern building, suggesting the slow, steady rise in prices that inflation describesMoney walkthrough

What Is Inflation? (and How to Protect Your Money)

This explainer covers what inflation is, how the CPI measures it, what causes it, why some inflation is normal, how it erodes cash, and ways to protect money.

· 29 min read
A piggy bank beside sorted coin stacks, bank cards, and a folded stack of cash, suggesting money kept in two different account typesMoney walkthrough

What Is a Money Market Account? (MMA Guide)

This explainer covers what a money market account is, how it works, MMA versus high-yield savings and CDs, and the crucial money market fund distinction.

· 33 min read
A calculator, a coffee cup, and a stack of printed statements on a sunlit wooden desk, the paperwork side of planning retirement contributionsMoney walkthrough

What Is a SEP IRA? (Self-Employed Retirement)

This explainer covers what a SEP IRA is: the self-employed retirement plan funded by employer contributions, its limits, tax breaks, deadlines, and rivals.

· 28 min read
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Sinking Fund: What It Is, Examples, and Monthly Math

A sinking fund saves gradually for one planned expense. This walkthrough covers what it is, the categories, worked examples, the math, and where to keep it.

· 30 min read
A calculator, a coffee cup, and a stack of printed account statements on a sunlit wooden deskMoney walkthrough

Do You Need a Financial Advisor for Your 401k?

This walkthrough explains whether you need a financial advisor for your 401k, what one does, fee models versus target-date DIY funds, and when it pays off.

· 29 min read
A model oak tree with an acorn at its base beside a jar of coins, representing long-term tax-free growthMoney walkthrough

Roth IRA Growth: How Much It Can Grow

Roth IRA growth explained: how tax-free compounding, contributions, time, and return rate turn steady saving into a big balance, plus a growth calculator.

· 24 min read
A retirement account statement, a jar of coins topped with an egg, and reading glasses on a calm desk with blue accentsMoney walkthrough

403(b) vs 401(k): What's the Difference?

403(b) vs 401(k) differ mainly in who offers them: investment menus, fees, ERISA coverage, catch-up rules, and contribution limits, all compared here.

· 29 min read
A retirement account statement, a jar of coins topped with an egg, and reading glasses on a calm desk with blue accentsMoney walkthrough

IRA vs 401(k): How to Choose (or Use Both)

This explainer breaks down IRA vs 401(k): how an individual account and an employer plan differ, why the match comes first, and the order to use both.

· 29 min read
A young person setting up an investment account on a laptop at a bright table in warm morning lightMoney walkthrough

Roth IRA vs Traditional IRA: How to Choose

This explainer compares Roth IRA vs traditional IRA: tax now versus tax later, income limits, RMDs, early withdrawals, and who each account really suits.

· 28 min read
A stethoscope resting on a stack of paperwork beside a calculator in cool lightMoney walkthrough

What Is an HSA? Rules, Eligible Items, and Perks

This explainer covers what an HSA is, the HDHP eligibility rule, the triple tax advantage, HSA-eligible items, and how an HSA stacks up against an FSA.

· 30 min read
A bright modern clinic reception area with an older patient checking in, calm and welcoming, used here as a metaphor for a routine financial checkupMoney walkthrough

How to Do a Financial Checkup (8-Point Review)

This checkup runs a financial review in eight points: net worth, budget vs actual, emergency fund, debt, retirement, insurance, credit and goals, in an hour.

· 28 min read
Rising wooden blocks each topped with a taller stack of coins, showing savings growing step by step toward a goalMoney walkthrough

How to Set Financial Goals That Work (7 Steps)

This worksheet sets financial goals in seven steps: list what you want, make each SMART, sort by time horizon, fund the essentials, then automate and review.

· 26 min read
A small green seedling growing out of a glass jar packed to the brim with coins, with a larger leafy plant standing to the right against a soft blue-grey backgroundMoney walkthrough

401(k) Withdrawals: Rules, Age, and Taxes Explained

This explainer covers 401(k) withdrawal rules by mechanism: the five ways money leaves a plan, what withholding does, and why a loan is not a withdrawal.

· 36 min read
A person budgeting at a table with an open laptop and a paper notebookMoney walkthrough

Checking vs Savings Account: Differences and When to Use Each

This explainer breaks down checking vs savings: what each is for, how they differ on interest and access, whether you need both, and how to use them together.

· 24 min read
A young person setting up an investment account on a laptop at a bright table in warm morning lightMoney walkthrough

Roth IRA Contribution Withdrawal Rules (and Multiple IRAs)

This explainer covers Roth IRA contribution withdrawal rules: why contributions come out anytime, when earnings are taxed, and how the five-year rule works.

· 32 min read
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What Is a High-Yield Savings Account? How They Work and Why

This explainer covers what a high-yield savings account is, how high-yield savings accounts work, APY vs interest rate, and the real benefit of the account.

· 27 min read
Overhead view of a person's two hands at a desk, one holding a small dark calculator and one holding a pen over a sheet ruled into two empty handwritten columns headed ASSETS and DEBTS, with a key ring and a densely printed page alongsideMoney walkthrough

How to Calculate Net Worth: The Step-by-Step Formula

How to calculate net worth, step by step: list what you own, value each line fairly, total what you owe, subtract, and read the result on a sample statement.

· 39 min read
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How to Catch Up on Retirement Savings (7 Steps)

This worksheet shows how to catch up on retirement savings in 7 steps, from sizing the gap to using catch-up contributions, so a late start still lands one.

· 25 min read
A calm person managing retirement account paperwork on a laptop at a tidy desk in soft natural lightMoney walkthrough

How to Roll Over a 401(k) (6 Steps, No Penalty)

This worksheet walks you through rolling over a 401(k) in 6 steps, using a direct trustee-to-trustee transfer so you avoid the costly cash-out mistake.

· 26 min read
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How to Build an Emergency Fund (6 Steps)

How to build an emergency fund in six steps: set a target, hit a starter goal, open the right account, automate the transfer, and replenish it after use.

· 23 min read
A person budgeting at a table with an open laptop and a paper notebookMoney walkthrough

How to Make a Budget (7 Steps That Actually Stick)

This worksheet builds a budget in seven steps: add up take-home pay, categorize spending, pick a method, set limits, save first, automate, and review monthly.

· 25 min read
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How to Start a Roth IRA: Open One in 6 Steps

This worksheet covers how to start a Roth IRA in six steps: the eligibility gate, where to set one up, funding, investing the cash, automating, and the rules.

· 48 min read
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How Much Should I Have in My 401(k) by Age?

This walkthrough answers how much should I have in my 401(k) by age: the salary-multiple guideposts for 30, 40, and 50, average versus recommended balances.

· 26 min read
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How Much Do You Need to Retire at 65?

This walkthrough answers how much do you need to retire at 65: the safe withdrawal math, the Social Security boost, and whether 1 million is enough at 65.

· 24 min read
A relaxed couple in their early sixties planning retirement together at a sunlit kitchen tableMoney walkthrough

Can You Retire at 60 with $500k?

This walkthrough answers whether you can retire at 60 with $500k: the withdrawal-rate math, the Social Security bridge, and the gap years before benefits.

· 24 min read
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What Is the Best 401(k) Contribution Percentage?

This walkthrough finds the best 401(k) contribution percentage for your paycheck: the full-match floor, the 10 to 15 percent benchmark, and how it compounds.

· 26 min read
A ceramic piggy bank beside a black graduation cap on a wooden desk in soft blue lightMoney walkthrough

How Much to Save in 529 Plans: Monthly Targets by Age

How much to save in a 529 plan depends on your goal, runway, and head start. This walkthrough turns college costs into illustrative monthly targets by age.

· 23 min read
A hopeful young person reviewing personal finances on a laptop at a kitchen table in soft daylightMoney walkthrough

How Much Should You Have Saved by 30? Benchmarks by Age

This walkthrough answers how much should you have saved by 30 with commonly cited salary multiples, honest milestones from 25 to 40, and a catch-up plan.

· 27 min read
A retirement account statement, a jar of coins, and reading glasses on a calm desk with blue accentsMoney walkthrough

How Much Should You Contribute to Your 401(k)?

This walkthrough turns 401(k) contributions into numbers: the at-least-the-match rule, the 10 to 15 percent benchmark, the tax break, and how time compounds.

· 24 min read
A glass jar half filled with coins beside a blank goal card on a wooden deskMoney walkthrough

How Much to Save Each Month to Hit Your Goal: The Math

This walkthrough shows the monthly savings math behind any goal: the simple divide, the with-growth formula, and illustrative amounts for 10k to 100k.

· 24 min read
A man with greying hair sitting with his eyes closed in a wooden chair on the shaded porch of a pale clapboard houseMoney walkthrough

How Much Do I Need to Retire at 55? The Real Number

How much do I need to retire at 55? A walkthrough of the target multiple, the answer matrix pairing spending with years left, and the coverage decade to 65.

· 46 min read
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How Much Should Be in an Emergency Fund? 3 to 6 Months

This walkthrough answers how much should be in an emergency fund: the essential-expenses floor, the personal multiplier, and where the cash should live.

· 24 min read
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Extra Mortgage Payment: What Paying Extra on Mortgage Saves

Extra mortgage payment math: paying extra on mortgage cuts years off your loan and avoids five figures of interest. See $100 a month, biweekly, and lump sums.

· 27 min read
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Compound Interest Formula: The Power of Compound Interest

Compound interest formula explained: A = P(1 + r/n)^(nt) variable by variable, worked examples, continuous compounding, and the power of compound interest.

· 30 min read