- What Is a Roth IRA?
A Roth IRA is an individual retirement account funded with after-tax dollars. You can’t deduct contributions to a Roth IRA at tax time, but you can withdraw your money tax-free in retirement. A Roth IRA is a popular choice for… read more…
- Early Retirement Can Create a Financial Crisis
Not many people would pass up the opportunity to retire early. In fact, there’s an entire movement built around the idea of early retirement – Financial Independence, Retire Early (FIRE). Need help planning for retirement? Consider working with a fiduciary… read more…
- How to Retire in Five Years With No Savings
Who doesn’t dream of retirement? Once you clock out of work for the final time, you can spend more time with family and friends, take up a new hobby or even write your memoirs like you’ve always wanted to. But retirement… read more…
- What Is a SARSEP Retirement Plan?
A Salary Reduction Simplified Employee Pension Plan (SARSEP) is a specialized retirement plan that used to be available to employees of small businesses. While these plans could not be established after 1996, those established prior to 1997 still exist. SARSEPs… read more…
- What Is a Life Insurance Retirement Plan (LIRP)?
The main purpose of a life insurance policy is to take care of your loved ones after you die. However, your life insurance policies can also be significant stores of value. In particular, if you hold one for most of… read more…
- Majority of Americans Plan to Work During Retirement
American investors are getting the jitters about retirement. More than half say they might need to work during retirement. Close to half say they’ll need to work during retirement. And another large contingent say they’ll need to move someplace cheaper… read more…
- 7 Types of Retirement Income Sources
When people retire, they go from having one main source of income to having several. The exact number of income sources and how heavily you’ll rely on them depends on your level of retirement planning. While some people rely solely… read more…
- How Long Will $1,500,000 Last in Retirement?
If you find yourself with $1.5 million in retirement savings, you’re doing more than five times better than the average retiree, who only has $279,997. It is true that $1.5 million can last indefinitely in retirement if you don’t spend… read more…
- Four Retirement Withdrawal Strategies
Withdrawing money the right way matters. We often talk about how to save for retirement. That is, after all, essential business for everyone during their working life. Whether you follow the 60/40 strategy, put your money into real estate or… read more…
- How to Retire In 10 Years with No Savings
Despite having nothing saved for retirement, it’s possible to retire in as few as 10 years. By cutting your cost of living to the bone and saving every available penny, almost anyone can accumulate sufficient assets to generate enough investment… read more…
- How to Navigate a Divorce After You Retire
Retirement is a major milestone that most couples look forward to. But some couples find the transition to retirement negatively impacts their marriage, sometimes resulting in irreconcilable differences and divorce. Rates of late-in-life divorce, also called “gray” divorce, have risen… read more…
- 5 Ways to Reduce Tax Liability in Retirement
If you’re approaching retirement age, you have a lot to think about. Focusing on limiting your tax liability can be especially valuable. After all, the more taxes you pay in retirement, the less money you’ll have to live off. If… read more…
- Debt Limit Ceiling Crisis Could Hit Your 401(k), Social Security and Medicare
America’s debt ceiling was reached — again — on January 19, 2023 as the country exceeded its $31.4 trillion spending cap. The cap was raised to that amount in December 2021. As much terms like “ceiling” and “cap” are used… read more…
- Retirement Catch-Up Contributions Get Bigger But Beware These Tax Changes
The benefits of aging include senior discounts, wisdom gained from experience and – when it comes to retirement saving – catch-up contributions. Anyone 50 and older have the option to contribute extra cash to a wide variety of retirement accounts. And… read more…
- You Can Now Delay RMDs But Think Twice Before You Do
Conventional logic says you should delay withdrawals from your tax-deferred retirement accounts as long as possible to maximize the tax-free compounding that can increase the size of your overall nest egg. But the IRS won’t wait forever to get its… read more…
- Should You Use Retirement Savings to Pay Off Debt?
Many experts advise you not to touch retirement accounts until your golden years, but some high-interest debts can present a more pressing issue. Debt can cause your financial circumstances to deteriorate at an alarming rate, and resolving the issue can… read more…
- How to Use a Roth IRA as an Emergency Fund
Building an emergency fund is essential so you don’t run into financial trouble if you lose your job or unexpected expense crops up. But keeping your emergency fund in a traditional savings account may not be the best solution. To… read more…
- How to Transfer a 401(k) to a New Employer
If you have been hired for a new job, you may have left your 401(k) behind and would like to bring it to your new place of employment. You can certainly do that, and the process isn’t difficult. But there… read more…
- What Is a 401(k) Deferral Contribution?
A 401(k) deferral contribution is the amount of an employee’s salary that they elect to put in an employer-sponsored retirement savings plan. The portion of the salary that is deferred is not subject to income taxes for the current year.… read more…
- Types of Individual Retirement Accounts (IRAs)
An individual retirement account (IRA) gives you a tax-advantaged way to save for retirement. Several different types of IRAs accounts exist. Most let savers deduct contributions from their current taxable income and also delay taxing earnings until withdraw money later… read more…
- Don’t Do This When You Leave a Job
Around 21% of Americans who quit their jobs either cash out their 401(k) or leave it to be transferred into cash by the employer. Both result in billions of dollars in lost retirement savings. Cashing out was a problem before… read more…
- Annuitization vs. Lifetime Withdrawals for Annuities
Purchasing an annuity can provide you with an additional stream of income for retirement. One thing you’ll have to decide is to annuitize payments or opt for lifetime withdrawals. Whether it makes sense to opt for annuitization vs. withdrawal can… read more…
- How Much Do You Need to Retire at 55?
If you’re thinking of retiring early, you may be wondering how much you need to retire at age 55. The exact amount of income you should have put away is going to depend on different factors. But if you want… read more…
- What Is a Non-Qualified Annuity and How Are They Taxed?
Non-qualified annuities have some unusual tax advantages. With these contracts, you invest money using after-tax dollars. The money in the annuity then grows tax-free or technically tax-deferred, until the contract matures. At that point, called the “annuitization,” you begin receiving… read more…
- Roth 401(k) Contribution Limits for 2025
Saving for retirement is a top financial priority for many. If you’re one of those who has prioritized retirement by opening a Roth 401(k), it’s crucial to use the account optimally to build tax-free retirement income. The IRS has raised… read more…