- 7 Retirement Concerns You Should Prepare For
Retirement is an important milestone in our financial lives. Therefore, you must carefully plan how much money you’ll need to live comfortably in old age. To do this, you’ll have to estimate both how much money you’ll have to save and spend. Here’s a breakdown of the top concerns you should prepare for. A financial… read more…
- When Is a Good Time to Roll Over Your 401(k)?
An optimal time to roll over your 401(k) really depends on your individual financial circumstances, retirement goals and the specific options that are available to you. Here’s what you need to consider to determine the right time for a 401(k) rollover. A financial advisor can help you decide if and when you should roll over… read more…
- Rolling Over a 401(k) When the Market Is Down: Should You Do It?
Deciding how to manage your 401(k) in a volatile market can be unnerving. The stakes are high – your retirement is on the line. So learning how to navigate deftly is essential, especially when examining crucial decisions like rolling over your 401(k). But, should you do it? Here’s what you need to know. A financial… read more…
- You Should Know These 20 Popular Retirement Books and Podcasts
It’s no surprise that Americans want more information about how to plan and save for retirement. Besides figuring out how much to save and invest and how long they might live, workers also need to figure out how to claim Social Security, where to retire, what kind of lifestyle they want, how to handle taxes… read more…
- Where You Keep Your Investments Can Help You Save Big on Taxes in Retirement
Where you keep your money matters. When it comes to retirement taxes, there are two main issues to consider: account type and asset class. Account type is where you keep your investments, such as an IRA, a 401(k) or a taxable account. Asset class refers to the type of investments you own, like stocks and… read more…
- A Black and White Approach To Retirement: Advisors Weigh In on BlackRock’s Unconventional Recommendation
It might be time to abandon the idea of a balanced portfolio. Traditional wisdom holds that investors should diversify their assets. While working and saving, you should invest in a mix of assets weighted toward stocks and growth. In your retired life, you should invest in a mix of assets weighted toward security and income.… read more…
- What Are Retirement Money Market Accounts?
A retirement money market account is a money market account that you hold in a tax-advantaged retirement account, like a 401(k) or an IRA. You use it as an interest-bearing account to hold cash in your retirement portfolio. These are depository accounts which means that, like all banking products, they offer a basic upside/downside profile… read more…
- How to Invest in Real Estate for Retirement Income
While traditional retirement accounts like 401(k)s and IRAs are valuable, investing in real estate for retirement can also provide a reliable and stable income stream in your golden years. Real estate has historically been a consistent wealth generator, offering retirees an added layer of security and stability. But market fluctuations, property management issues and unexpected… read more…
- New Study Finds That Planning for Retirement Is Linked to Overall Well-Being
The fact that Americans are living longer has made the usual approach to financial planning incomplete, according to a new study of approximately 1,200 people and 10 focus groups by MIT AgeLab and Transamerica. The traditional three-part plan of education, work and retirement and aiming to ensure that people have enough to live comfortably in… read more…
- Can a 457(b) Retirement Plan Roll Over to an IRA?
A 457(b) rollover allows funds from a 457(b) retirement plan to be transferred into an IRA, offering continued tax-deferred growth and a wider range of investment options. Whether you’ve left an employer or are preparing for retirement, rolling over a 457(b) can simplify account management and provide more flexibility in how you invest. However, the… read more…
- What Is an Indirect Rollover?
When it comes to managing your retirement savings, an indirect rollover is one of the tools available to you. This financial transaction involves you – the account holder – personally receiving and moving funds from one retirement account to another within a specific timeframe. However, it’s crucial to understand the tax implications of this maneuver… read more…
- Understanding Bonus Annuities and Their Benefits
Bonus Annuities are a compelling investment option offered by insurance companies, which frequently provide an upfront bonus or first-year interest rate bonus, on your initial investment. These bonuses can typically range from 1% to 10% of your initial investment and hinge on the specifics outlined in the annuity contract. It could be important to speak… read more…
- Maxing Out Your Income: Data Suggests Changing Jobs to Retire Sooner
Right now is among the best times ever to get a new job. That’s the result of the latest wage growth data from the Atlanta Federal Reserve. In it, they find that the last 12 months have been among the strongest ever for people who change jobs, with the wage benefits of changing jobs roughly… read more…
- What a Retirement Lifestyle With $7 Million Looks Like
Imagine retiring with $7 million in your 401(k) or IRA. What kind of lifestyle might that size nest egg support? Picture owning a luxurious home in a high-end neighborhood, driving top-notch vehicles, regularly vacationing in exotic locations and availing best-in-class healthcare without worrying about rising costs. When planning a $7 million retirement, it’s important to… read more…
- Research Shows How Your Healthcare Plan Should Account for HSAs
Employers have embraced high-deductible health plans (HDHPs) so enthusiastically that today half of workers with employer health coverage get it from these plans. HDHPs aim to make consumers more cost-conscious, but they potentially could encourage some workers to save money by skipping beneficial preventive health services. The IRS tried to address that concern by making… read more…
- How to Move Your 401(k) to Gold Without a Penalty
Moving a 401(k) to a gold IRA, as a rollover, can be a strategic way to diversify your retirement savings, yet it’s a procedure that requires careful navigation. This is something that might benefit you if you want to do something different with the money in your 401(k), but investing in gold has its own… read more…
- What Is an Annual Reset of a Fixed Index Annuity?
A fixed index annuity (FIA) or equity indexed annuity is an insurance contract that combines principal protection with potential market-linked returns. If the chosen market index that’s linked to the annuity performs well over the course of the year, the annuity holder enjoys a portion of those gains as interest. An annual reset is the mechanism… read more…
- How Much Should You Save and Withdraw for Retirement?
One of the most important questions to answer as you plan your retirement is how much money you need. The answer depends on a lot of factors, from your potential longevity to your lifestyle to how much you’ll be getting from Social Security. However, according to Fidelity, there are four key guidelines that retirement planning… read more…
- What a Retirement Lifestyle With $20 Million Looks Like
Imagine awakening to the gentle sound of waves washing up on a pristine beach, steps away from your luxury villa. You enjoy a gourmet breakfast while planning your day, debating between taking a tranquil boat trip or enjoying a private tour of a renowned local museum. All of these are made possible because you’ve amassed… read more…
- What Are the IRA Rollover Limits?
Understanding the limits imposed by the Internal Revenue Service (IRS) on IRA rollovers can be a crucial aspect of financial planning if you rely heavily on IRA funds for retirement. An IRA rollover limit refers to the maximum amount of money that one can transfer from a 401(k) or other employer-sponsored retirement plan into an… read more…
- Report Shows Rising Retirement Account Balances: Are You Keeping Up?
Americans, it seems, are getting more financially secure – at least on the retirement front. For the third quarter in a row, retirement account balances increased for households across the country, according to a new analysis from Fidelity Investments. Need help saving and planning for retirement? Speak with a fiduciary financial advisor today. The company… read more…
- Social Security Update for September: What You Need to Know
If you receive Social Security payments, whether you’re in retirement or have a disability, the Social Security Administration (SSA) calculates your benefits as a monthly sum. Each aspect of the program, both Social Security and Supplemental Security Income (SSI), then issues those payments once per month to all beneficiaries. Understanding what the Social Security landscape… read more…
- Can You Retire at 62 With $400,000 in a 401(k)?
It’s certainly possible to retire early on $400,000, but it won’t be easy. If you have the option of working and saving for a few more years, it will likely give you a significantly more comfortable retirement. By waiting until at least age 67, you can collect more in lifetime Social Security benefits and your retirement… read more…
- RMD Penalty Waiver Letter Sample
Required minimum distributions (RMDs) are the mandatory withdrawals that you take from your tax-deferred retirement accounts each year. The IRS requires these distributions to occur, even during rocky periods of life, and levies a penalty if you don’t withdraw the prescribed amount each year. Fortunately, if you fail to take an RMD, you can avoid… read more…
- Good News for People Who Make $145K: IRS Delays New Catch-Up Contribution Rule Until 2026
The IRS recently announced some welcome news for higher-income workers with 401(k)s and similar retirement plans. The agency delayed implementing a new rule that would have required catch-up contributions made by people earning over $145,000 to be directed into an after-tax Roth account. The rule change was originally set to start in 2024, but will… read more…