- What Is a Retirement Plan?
A retirement plan is a financial strategy that combines both savings and investments and plans for distributions to pay for retirement. To help assist you with your financial goals, employers often offer a 401(k) plan to help you save a… read more…
- Is $6 Million Enough to Retire at 65?
Retiring at age 65 with $6 million is entirely possible, even for people with quite comfortable lifestyles. Conservative investment and withdrawal plans allow for ample retirement income for most people retiring in those circumstances. At age 65, retirees become eligible… read more…
- Can You Retire at 50 With $2 Million?
Two million dollars may seem like more than enough money for retirement, but even that amount can vanish quickly in the face of medical expenses, inflation and taxes. If you expect to retire at 50 with $2 million, careful planning is… read more…
- Investing With a 401(k) vs. Index Funds
Index funds are low-cost mutual funds designed to track the performance of groups of stocks, while 401(k) accounts are tax-advantaged retirement accounts many businesses offer to workers. These two investing vehicles provide different benefits that generally complement each other, and both… read more…
- What Is a 401(k) Blackout Period?
From time to time an employer will have to make structural changes to their 401(k) plan. When that happens, they might need to freeze changes to the plan overall. This is called a “blackout period.” During black periods a 401(k)… read more…
- 401(k)s vs. Brokerage Accounts
Brokerage accounts and 401(k)s offer different advantages and disadvantages for investors and savers alike. Brokerage accounts are taxable, but provide much greater liquidity and investment flexibility. 401(k) accounts offer significant tax advantages at the cost of tying up funds until… read more…
- How to Retire at 40 With $2 million
Retiring at 40 with $2 million is an ambitious goal, but that doesn’t mean it’s impossible. While you’ll need a decent salary or other sources of income or wealth, saving $2 million is not out of reach. If you plan… read more…
- Can I Retire at 45 With $3 Million?
You can probably retire in financial comfort at age 45 if you have $3 million in savings. Although it’s much younger than most people retire, that much money can likely generate adequate income for as long as you live. Very… read more…
- Morningstar Says This Brokerage Account Can Help You Save More for Retirement Than a 401(k)
Many Americans save for retirement through 401(k)s. These accounts offer tax-deferred benefits, which means that your money can grow tax-free until you make a withdrawal. But for those who don’t have access to an employer-provided retirement account, or simply want… read more…
- Can You Have a Joint Roth IRA?
As with all tax-advantaged retirement accounts, you cannot hold a Roth IRA jointly with someone else. That’s even if they are your spouse. Each individual in a household must own and contribute to their own account, although you can name… read more…
- How to Save for Retirement in Your 50s
Regardless of when you start, saving for retirement is vital. Although most elderly Americans depend on Social Security to some degree, the average recipient collects only $1,691 per month – not enough money to live comfortably in most places. Your strategy for… read more…
- How to Retire in the United Kingdom (UK)
Numerous European countries are among the world’s most attractive retirement destinations, and the United Kingdom (U.K.) is no exception. With its rustic villages, historic landmarks and lower cost of living, the U.K. can offer retirees the exact right amount of… read more…
- 4 Ways to Protect Assets from Medicaid
Medicaid can pay for long-term care if you meet its means-testing restrictions. The federal-state program is designed to help only people of limited financial means. However, people with more substantial assets can use three different strategies to shield those assets… read more…
- Defined Benefit vs. Defined Contribution Plans
Defined benefit plans and defined contribution plans are two employer-sponsored ways of helping to provide employees with a comfortable retirement. The difference between them lies primarily in who takes responsibility for funding the plans, managing the assets, and, ultimately, ensuring… read more…
- Is $5 Million Enough to Retire at 55?
Let’s say you want to retire early, at age 55. Is $5 million enough to achieve your goal? While the cost of living varies from place to place, a nest egg this size would likely give more than enough money for… read more…
- How to Estimate Your Expenses in Retirement
Anticipating your retirement expenses is key to saving the right amount in 401(k)s, IRAs and more. Although getting exact figures might not be possible, projecting costs for healthcare, housing and lifestyle can help you create a realistic savings goal during… read more…
- Is $3 Million Enough to Retire at 55?
If you plan on having $3 million in savings by the time you turn 55 and you’re wondering if you can retire on that amount, then there are some things to consider. From understanding what your costs will be in… read more…
- How Much Income Will I Need to Replace in Retirement? T. Rowe Price Says Start With This Percentage
Retirement planning can be full of complicated calculations and projections. Whether you’re estimating a reasonable withdrawal rate from your investment portfolio or minimizing your tax liability, you have many decisions to make as you plan your golden years. But figuring out… read more…
- Types of ERISA-Covered Retirement Plans
The Employee Retirement Income Security Act (ERISA), is a federal law that protects members of employer-sponsored retirement and health plans. Most American workers belong to retirement plans that are covered by ERISA. The list of covered plans includes the most… read more…
- Can I Transfer My IRA into a Savings Account?
You can transfer your individual retirement account (IRA) to a savings account, but you may have to pay a penalty and income tax. Here’s what you need to know. When you have a big expense to cover, you might ask… read more…
- Is a 401k Considered an Asset?
Your 401(k), and any other retirement accounts, are financial assets. These are portfolios in which you hold securities and investment products that have either realized or potential value. This makes your 401(k) portfolio an asset in your name as long… read more…
- Why Maximize a 401(k) Without an Employer Match?
When an employer matches your contributions to a 401(k), it represents one of the best retirement savings opportunities around. Not only does the match effectively double the size of your contribution up to the employer’s matching limit, but employer contributions… read more…
- Deadline Is Looming to Max Out 2022 IRA Contributions
We’re well into the new year, but retirement savers can still make contributions to retirement accounts for tax year 2022. Savers have until April 18 – Tax Day – to contribute to their individual retirement accounts (IRAs), simplified employee pension plans… read more…
- Retirement Saver’s Credit Goes Further in Conversion to Saver’s Match
The SECURE 2.0 Act was recently signed into law by President Biden. Coming just a few years after the first SECURE Act, this legislation makes a bevy of changes designed to make it easier for Americans to save for retirement… read more…
- A Roth 401(k) Just Got a Lot More Attractive
A Roth 401(k) is a solid option for retirement savers, especially those who don’t anticipate finding themselves in a lower tax bracket when they retire. A Roth 401(k) works similarly to other retirement savings accounts — you put your money… read more…