- Does Your 401(k) Need to Be Protected?
When choosing among the mutual funds, target-date funds and other investments offered in a 401(k) plan, nobody sets out to select a costly investment that could affect their future. But, according to law professors Ian Ayres of Yale University and Quinn Curtis of the University of Virginia, that’s often exactly what can happen. Taking personalized… read more…
- How an Individual Retirement Annuity Works
An individual retirement annuity can provide guaranteed lifetime income, making it a potentially useful tool in retirement planning. It also comes with tax perks, similar to other retirement planning tools such as an Individual Retirement Account (IRA). However, individual retirement annuities differ from IRAs in key ways, including investing costs and flexibility in selecting investments.… read more…
- Retirement Risk Zone: What It Is and How to Navigate
The Retirement Risk Zone is the period of time that can last from five to 10 years before and after you retire. This timeframe can have a significant impact on your retirement savings. And experts say that you should pay careful attention to your retirement savings decisions when you reach this zone. Here’s what you… read more…
- What Is Unretirement?
Unretirement refers to retirees who reenter the workforce after retirement. This trend is driven by various factors, including longer life expectancies, financial considerations and a desire to engage in other forms of meaningful work or productive activities. Unretirement can take various forms, such as part-time employment, consulting, volunteering, or starting a new entrepreneurial venture. Here’s… read more…
- Can You Answer These Social Security Questions Correctly? Only 13% of People Know the Answer to a Vital Question
Americans have rarely been more wrong about Social Security. As Nationwide Financial found in a recent survey, 40% of Americans say they’re either confident or very confident in their knowledge of Social Security. In fact, twice as many people say they’re “very confident” in their knowledge of the program and its benefits today compared with… read more…
- Pros and Cons of an Immediate Annuity
An immediate annuity is the most basic type of annuity: You can buy this insurance contract with a single lump sum payment in exchange for a stream of income that is guaranteed over a specific period of time. However, when developing the strategy for your retirement plan, you should compare the advantages and disadvantages before… read more…
- Can You Retire After Working for 10 Years?
Retiring after just a decade of work might sound like a pipe dream, but with careful planning and smart financial choices, it may be within reach. Let’s explore how you can retire after 10 years of work and discuss the key factors and strategies that can help you make it happen. If you need additional… read more…
- Can You Retire After Working for 20 Years?
There’s no direct answer as to whether retiring after a 20-year career is possible or not. The factors that affect any given person’s retirement readiness is extremely personal to their situation. This includes what kinds of retirement accounts they have, how much is in them, their tax and healthcare situations, what assets or real estate… read more…
- The Federal Government Will Match Your Retirement Plan Savings By 50%. Here’s Who Qualifies.
A major change coming in 2027 could boost the retirement savings of millions of lower- and middle-income Americans. The federal government will start matching 50% of retirement account contributions up to $2,000 per year through the new Saver’s Match program. This money injects funds directly into savers’ accounts rather than simply reducing tax bills. For… read more…
- Legislation Aims to Ban This From Your Retirement Plan
Proposed legislation making its way through Congress could limit the types of investments employer-sponsored retirement plans can offer. Republicans in the House of Representatives submitted four bills that would reverse a rule permitting retirement plan fiduciaries from including environmental, social and governance (ESG) considerations when selecting investments for plan participants. Do you have questions about… read more…
- Planning Your Retirement? Don’t Forget About Home Equity
Historically, financial advice has treated homes as a source of wealth. When you buy a house – common wisdom holds – you treat it as a financial asset that can accrue value and contribute to your retirement plan. But in reality, there are many problems with this advice. Home prices are slippery and unreliable, and maintaining… read more…
- How to Calculate 401(k) Cash Out Penalties
A 401(k) is a retirement savings plan offered by your employer that lets you set aside part of your paycheck before taxes. It’s a great way to build long-term savings and enjoy tax benefits. However, withdrawing money early—before age 59½—can come with hefty penalties. So, what happens if you need to access your funds sooner?… read more…
- 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…