- Are Annuities Insured?
An annuity is a type of insurance contract that can offer a guaranteed income stream, making them a common investment of retirees. In exchange for a lump sum or a series of payments, an insurance company provides guaranteed returns. While… read more…
- Is $2.5 Million Enough to Retire at 65?
For most people, it will be little or no problem to retire at age 65 if they have $2.5 million in savings. This amount of capital invested prudently is likely to provide sufficient income for a lifestyle comfortable enough to… read more…
- Switch to Roth Contributions If You Have This Much Money
Deciding whether to save in a pretax or Roth account for retirement just got a little easier – at least for people 50 and older. T. Rowe Price has pinpointed how much late-career workers who want to leave money to… read more…
- Can I Retire at 50 with $1 Million?
Retiring on $1 million at 50 will depend on longevity, health costs, lifestyle, retirement income, inflation and other factors. Here are different scenarios. So if you’re entranced by the idea of retiring early, you might be running through various scenarios.… read more…
- Is $2 Million Enough to Retire at 70?
Planning for retirement can be complicated, even with millions in the bank. Let’s take a look at some of the most common tools you can use and questions people have about retiring at 70 with a $2 million nest egg.… read more…
- How to Save for Retirement in Your 40s
It’s increasingly common for workers to only start taking retirement seriously after age 40. A combination of stagnant wages and spiraling student debt has forced more and more households to put off retirement planning for years, if not decades. Whether… read more…
- Is $3 Million Enough to Retire at 65?
To some people, $3 million will sound like a lot. You probably think $3 million is enough to retire if you’re among that crowd. But retiring with $3 million at 65 can last depending on your longevity, lifestyle and other… read more…
- JPMorgan Recommends These Themes For Retirement In 2023
“Some of the market’s best days occur very close to the worst days.” This is one of the pieces of advice from the 2023 Retirement Guide published recently by J.P. Morgan Asset Management . The guide is the 11th version… read more…
- How to Retire at 45 With $2 Million
Retiring before you’re 50 may sound like a pipe dream, but a nest egg of $2 million can make this a reality. The question is, how can you save that amount in only about two decades? Depending on your circumstances,… read more…
- Can I Retire at 45 With $1 Million Dollars?
Achieving retirement before 50 may seem unreachable, but it’s entirely doable if you can save $1 million over your career. The keys to making this happen within a little more than two decades are a rigorous budget and a comprehensive… read more…
- How to Save for Retirement in Your 20s
Saving for retirement is a long-term process, but starting earlier will give you a significant advantage. You will have more time for compounding to take effect and more money in the long run. Being in your 20s will give you time… read more…
- Am I Saving Too Much for Retirement?
It may seem like an odd notion, but it is possible to save too much money. You may have financial habits that allow you to sock away tons of money but cause your current quality of life to deteriorate. As… read more…
- How Long Will $300,000 Last in Retirement?
How long will $300,000 last in retirement? The answer to that depends on a variety of things: your lifestyle, your lifespan, your investments and any other income you have, to start. Let’s break down whether $300,000 is enough for your… read more…
- This Lucrative Retirement Tactic Dodged Biden’s Axe
President Biden signed the Inflation Reduction Act into law in August 2022. This is a trimmed-down version of the Build Back Better Act, a $1.75 trillion social spending initiative that had struggled to get votes in Congress. The expanded bill… read more…
- How to Roll Over a Pension Into an IRA
Private sector employers that once offered workers traditional pensions, typically defined benefit plans, have been encouraging people to roll over their pensions into tax-advantaged plans like individual retirement accounts (IRA) and 401(k)s. If you’re considering such a move, it’s important… read more…
- What Is a Self-Directed 401(k)?
Self-directed 401(k) plans let savers decide how to invest their pre-tax retirement contributions. Rather than being limited to the pre-approved funds typically offered by traditional 401(k) plans, self-directed 401(k) plans allow you to choose exactly where you’ll invest your money.… read more…
- 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…
- 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…
- The Average 401(k) Balance by Age
It can be hard to know if your retirement savings are on track, but comparing your balance to where others similar in age are can help. In particular, taking a look at the average 401(k) balance by age is a good place… read more…
- 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…
- 403(b) vs. 401(k): Comparing Retirement Plans
If you’re starting a new job, there’s a good chance you’re going to have the option to join an employer-sponsored retirement plan, and it’ll probably be one of two types of plans: a 403(b) or a 401(k). Both are defined… read more…
- 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…
- How to Execute a 401(k) to Gold IRA Rollover
Rolling over a 401(k) plan into a traditional or Roth IRA is a fairly common practice. You’ll often do this when you’ve left your former employer and want to keep your retirement savings all in one place. But you may… read more…
- What Are 401(a) Plans?
Saving for retirement is one of the most important financial steps you can take. If you don’t, you could end up entering what should be your golden years struggling to make ends meet. One of the most common ways to… read more…
- How Does 401(k) Matching Work?
One of the easiest ways to save for retirement is to contribute to your 401(k). Set up through your employer, a 401(k) allows you to set aside a certain amount of each paycheck before income taxes apply. Sometimes, your employer… read more…