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Liz Smith

Liz Smith is a graduate of New York University and has been passionate about helping people make better financial decisions since her college days. Liz has been writing for SmartAsset for more than four years. Her areas of expertise include retirement, credit cards and savings. She also focuses on all money issues for millennials. Liz's articles have been featured across the web, including on AOL Finance, Business Insider and WNBC. The biggest personal finance mistake she sees people making: not contributing to retirement early in their careers.

Posts by Liz Smith

Does Employer Match Count Toward the 401(k) Limit?

How the Employer Match Works With the 401(k) Limit

A 401(k) is an employer-sponsored, tax-advantaged retirement plan. You fund this account by contributing a set percentage of your paycheck into the account. One of the biggest perks of a 401(k) plan is that employers have the option to match your… Read more…

SmartAsset: How to Take Money Out of a 401(k) Plan

How to Take Money Out of a 401(k) Plan

Taking money out of a 401(k) is a big decision. The specifics of how to take money out of a 401(k) plan depend on your age, employer plan, whether you’re still working for the company that sponsors your 401(k) plan… Read more…

401(k) vesting

401(k) Vesting and What It Means for You

Any money that you put into your 401(k) is yours. But when it comes to employer match contributions, things work a little differently. To own any portion of your employer’s contributions, you’ll need to vest in your employer’s match contributions.… Read more…

SmartAsset: What Are 401(k) Fees?

Everything You Need to Know About 401(k) Fees

Since pensions have become less common, many Americans now rely on employer-sponsored, defined contribution plans like 401(k)s or 403(b)s to cover much of their retirement needs. In fact, the Investment Company Institute says that 401(k) plans held roughly $7.3 trillion… Read more…

gift tax limit

Gift Tax Limits: How Much Can You Gift?

For 2023, the annual gift tax exemption is $17,000, up from $16,000 in 2022. This means you can give up to $17,000 to as many people as you want in 2023 without any of it being subject to the federal… Read more…

Revocable Living Trust

What Is a Revocable Living Trust?

As you get older, there are two major things that you should consider. One is retirement. Having the necessary retirement savings and a financial plan will allow you to live the kind of life you want to live during your golden… Read more…

What Is a Fee-Only Financial Planner?
Financial Advisor

What Is a Fee-Only Financial Planner?

If a financial planner, financial advisor or another type of financial professional is fee-only, that means they receive compensation solely from the fees clients pay for their services. They do not earn commissions for recommending certain products. A fee-only structure… Read more…

What does ACH stand for in banking?
Checking Account

What Does ACH Stand for in Banking?

For most of us, sending bills and receiving paychecks by mail are things of the past. We shop online, enroll in direct deposit, pay our bills, and file taxes online. If you have ever wondered what facilitates all these digital… Read more…


All About Catch-Up Contributions

Catch-up contributions allow people age 50 or older to save more in their 401(k)s and individual retirement accounts (IRAs) than the usual annual contribution limits set by the IRS. The idea is to make up for the years you didn’t… Read more…

Investment Banking: Definition, Types & More

Investment Banking: Definition, Types & More

Investment banking is a sect of the banking industry focused on raising capital for companies, governments and other entities. Investment banks are typically private companies, and they may underwrite debt and equity securities, assist with mergers and acquisitions, provide financial advisory… Read more…