- Survey Shows Plan Sponsors Are Looking at 401(k) Fees
Saving for retirement is a key part of financial planning for most people. Unless you have a vast inheritance coming your way or you’re OK working until your very last day, you’ll need to start squirreling away money so you… read more…
- This Tax Loophole Can Save Your Heirs Big. Here’s How T. Rowe Price Says to Use It
Deciding which accounts you’ll withdraw money from – and when you’ll take it – is an important decision in retirement. However, you may want to consider preserving assets held in a taxable brokerage account and passing them down to heirs.… read more…
- Do Seniors Ever Stop Filing Taxes?
When you retire or reach a certain age, there might be certain things you no longer have to do. You might get to skip the commute or qualify for some great discounts. But no matter your age, you don’t get… read more…
- How Does GoodRx Work?
Prescription drug prices are a barrier for many when trying to get the medications they need. Although health insurance reduces the price of many prescription drugs, costs remain high for numerous medications. GoodRx finds the pharmacy with the lowest prescription… read more…
- What Is a Retirement Annuity?
A retirement annuity is a basic annuity where you pay on a contract for a set period of time and in return receive income, often for life. Retirement annuities provide predictable income, giving people increased financial security and peace of… read more…
- Can I Retire at 55 With $2.5 Million?
It probably is possible for most people to retire at age 55 if they have $2.5 million in savings. The ultimate answer, though, will depend on the interplay between various factors. These include your health, your anticipated retirement lifestyle and… read more…
- Can the IRS Take Your 401(k)?
A 401(k) plan can help you build wealth for retirement while enjoying some significant tax benefits. You might assume that your retirement assets are untouchable, but that’s not always true. For instance, can the IRS take your 401(k)? You might… read more…
- Roth IRA vs. 457(b) Retirement Plans
Roth IRA and 457(b) plans give savers tax-advantaged ways to fund a secure retirement. Almost anyone can open a Roth IRA account with after-tax dollars that then grow tax-free. Only state and local government employees can have 457(b) accounts but… read more…
- How to Open and Set Up a Self-Directed IRA
While most individual retirement plans focus on stocks and bonds, self-directed IRAs allow you to invest in a broader range of assets, from petting zoos and laser tag arenas to residential real estate and silver bars. This account type allows… read more…
- 6 Advantages of Roth IRAs: What You Need to Know
Opening an individual retirement account is an excellent step in retirement planning. However, you’ll face a choice when doing so: will you pick a Roth or traditional IRA? Your contributions to one count towards the total annual limit for both… read more…
- Social Security to Run Dry in 2034
Recently, the Social Security Administration announced that its cash reserves will run out in 2034, a year earlier than earlier projected. When this happens, the agency will continue to pay benefits based on its ongoing tax revenue. This will require… read more…
- Target-Date Investors Have a New Favorite Vehicle
A volatile market is worrisome for many Americans, including — and maybe especially — those saving for retirement. Most retirement savers aren’t looking to make the huge gains professional investors are, just to grow their money slowly and steadily so… read more…
- What is an Annuity Income Rider?
An annuity income rider is an optional feature of many annuities that retirees can use to provide themselves with a guaranteed minimum income for as long as they live. Income riders add cost and complexity to annuities but give retirees… read more…
- The Pros and Cons of a Hybrid Annuity
A hybrid annuity combines the features of a fixed annuity and a variable annuity. Hybrid annuities offer guaranteed lifetime income like a fixed annuity, plus potential for growth like a variable annuity. Limitations of hybrid annuities include higher fees than… read more…
- Do You Need a Financial Advisor After You Retire?
Managing your money never entirely stops, especially since retirement means living exclusively off of your assets and investments. That said, your involvement with your money can change considerably. After a life spent actively building your portfolio, choosing assets and trying… read more…
- How to Roll Over Your 401(k) Into An Annuity
When you leave a job where you had a 401(k) it’s important to understand what your options are for rolling over your tax-advantaged plan. Cashing out is another option but can result in significant taxes. Many choose to roll their… read more…
- Using a Roth IRA Annuity for Retirement
There are different financial vehicles that you can use to save for retirement. A Roth individual retirement account is one option; an annuity is another. A Roth IRA annuity combines features of both into a single financial tool. You can… read more…
- Self-Directed IRA LLC: Investment Guide
If you’re looking for more variety when it comes to investing for retirement, you might consider a self-directed IRA (SIDRA). Self-directed IRAs allow you to invest in the usual suspects—stocks, bonds and mutual funds—but you can also use them to… read more…
- How Long Will $800,000 Last in Retirement?
Saving for retirement is one of the most important parts of securing your financial future. While programs like Social Security can help, they often aren’t enough on their own. This is why it is crucial to have retirement savings of… read more…
- How Long Will $250,000 Last in Retirement?
If $1 million will afford you a comfortable retirement, how far would a quarter of that amount go? It might surprise you to know you can make $250,000 last for decades in retirement. While you’ll need a detailed plan and… read more…
- Here’s How Much to Keep in Stocks, Bonds and Cash in Retirement
There are many different approaches and strategies for retirement investing that might appeal to you. But how do you tell if a certain strategy works for your situation? When evaluating different approaches, consider how each strategy is put together and… read more…
- How Much Interest Does $2 Million Pay Monthly?
For older Americans, living off the interest and returns of your retirement account is how retirement is structured. The goal is that by the time you hit your late 60s you will ideally have enough saved up to coast indefinitely.… read more…
- Will SECURE 2.0’s New Rules on RMDs and Catch-Up Contributions Actually Hurt You?
The SECURE 2.0 Act ushered in a number of consequential changes designed to bolster the American retirement system, including an updated timeline for required minimum distributions (RMDs) and new rules surrounding catch-up contributions. But the National Association of Government Defined… read more…
- What Is a Realistic Rate of Return for Retirement?
Everyone loves seeing growth in their portfolio. However, a good year of investing doesn’t necessarily indicate a sound long-term investment strategy. Generating sufficient retirement income means planning ahead of time but being able to adapt to evolving circumstances. As a… read more…
- IRA Transfer vs. Rollover: What’s the Difference?
Anyone who’s ever put together furniture or hung a picture on a wall knows the difference between a screw and a nail. While they may look alike, they have distinct purposes and applications. The same can be said for an… read more…