The Richest Man in Babylon In good times and bad, consistently saving a percentage of your income is a sound financial practice. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Healthcare Costs in Retirement Without a solid approach, health care expenses may add up quickly and potentially alter your spending. Paying Tax Later Doesn't Always Mean Paying Less 401(k) savings are taxed as ordinary income when funds are withdrawn. The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.