- IRA vs. 401(k)
In the showdown of IRA vs. 401(k), which wins? That depends on your retirement savings needs. Just because you have access to a 401(k) through work doesn’t mean you should necessarily max it out. Consider what a 401(k) and an IRA can do… read more…
- The Best Robo-Advisors of 2025
Robo-advisors are quite popular due to their low fees and simple, hands-off investment approach. But as more robo-advisors come about, the harder it becomes to figure out which one you should go with. To help you decide, SmartAsset created this… read more…
- 5 Things to Know About Splitting Up a 401(k) in a Divorce
One of the most difficult aspects of ending a relationship is often figuring out how to divide your assets. While splitting up a checking or savings account may be fairly straightforward, figuring out who gets what with regard to a… read more…
- Average Retirement Savings: How Do You Compare?
If you’re wondering what’s a normal amount of retirement savings, you’re probably one of the 60% of Americans who either don’t think their savings are on track or aren’t sure, according to the Federal Reserve’s “Report on the Economic Well-Being… read more…
- 3 Places to Save After Maxing Out Your 401(k)
Saving using your employer’s 401(k) plan is generally seen as a wise financial move in order to help you prepare for retirement. But believe it or not, it’s not your only avenue for growing a healthy retirement nest egg. If you’re… read more…
- Where You Need to Be a Millionaire to Retire – 2015 Edition
Do you have a cool million dollars sitting in your retirement account? If not, you probably need to keep saving if you’re planning on retiring in one of America’s largest cities. Thanks to the rising cost of living in urban areas across the country, retiring in a big city is more expensive than ever. In places… read more…
- Social Security Retirement Benefits
Are you factoring Social Security benefits in to your retirement planning? If so, you should know the basics of Social Security eligibility and payments. That way, you won’t get any unpleasant surprises when it comes time to claim your benefits after decades of hard work. Don’t worry – we’ve got you covered with our guide… read more…
- What Is a Profit-Sharing Plan?
A profit-sharing plan is a form of a Defined Contribution (DC) plan that relies on employer contributions to employees’ accounts. A business owner who wants to set up a profit-sharing plan for the benefit of herself and her employees may make generous… read more…
- What Is a Cash Balance Plan?
A cash balance plan is a type of retirement savings plan that combines features of both traditional pension plans and 401(k) plans, offering a unique approach to retirement savings. Unlike a traditional pension plan, where benefits are defined by a formula based on salary and years of service, a cash balance plan credits a participant’s… read more…
- 4 Ways to Minimize Taxes on Retirement Plan Withdrawals
If you’re working on building up a nice nest egg for yourself, it’s important to make sure that it’s going to last through retirement. One of the ways you can stretch your savings further is by structuring your retirement account withdrawals to minimize your tax burden. When you have money available from multiple sources, the order that… read more…
- Roth IRA Rules: Contribution Limits, Income Limits & Withdrawals
A Roth IRA can be a great way to stash away money for your retirement. Like all tax-advantaged retirement plans, however, the IRS has rules and requirements governing how they can be used. These include rules regarding the taxation of contributions and… read more…
- 3 Ways Retiring Early Can Hurt Your Finances
Early retirement isn’t the norm for most workers, but with some careful planning, it’s possible to quit the 9-to-5 grind 10, 15 or even 20 years ahead of schedule. Whether you plan to spend your golden years sunning on the beach or traveling the world, it’s important to be prepared for how leaving the workforce early… read more…
- What Is a Pension Plan? Definition, Types and How It Works
A pension plan is a type of retirement plan where employers promise to pay a defined benefit to employees for life after they retire. It’s different from a defined contribution plan, like a 401(k), where employees put their own money… read more…
- Is Social Security Income Taxable?
Social Security income is generally taxable at the federal level, though whether or not you have to pay taxes on your Social Security benefits depends on your income level. If you have other sources of retirement income, such as a… read more…
- What Is a SIMPLE IRA?
A SIMPLE IRA is a retirement savings option for the owners and employees of small business. True to its name, the SIMPLE IRA is easy to set up and administer. If you’re a business owner, a SIMPLE IRA lets you save… read more…
- What Is a Self-Directed IRA and How Does It Work?
A self-directed IRA is a tax-deferred retirement account for those who want more control than a regular IRA affords. Whereas a normal IRA has a fairly standard set of investment opportunities, a self-directed IRA lets you use alternative investments too. These could include real estate, commodities, private placements and more. This approach requires a bit… read more…
- All About Required Minimum Distributions
If you imagined spending your retirement only pulling from your retirement accounts when you need them, you’ll unfortunately be disappointed. The IRS wants you to start taking money out of your retirement accounts beginning at age 72 or 73. This… read more…
- What Is a 401(k) and How Does It Work?
A 401(k) is a common tax-advantaged retirement savings plan that’s available to employees through their employer. These accounts come in traditional and Roth variations, with each having their own tax benefits according to IRS tax laws. Because 401(k)s are integrated… read more…
- What Is a 403(b)?
A 403(b) is a tax-advantaged retirement plan available to many of America’s public employees, employees of universities and hospitals, religious leaders and workers at non-governmental organizations. Like a 401(k), a 403(b) comprises contributions that aren’t taxed right away. The contributions… read more…
- What Is an IRA, and How Does It Work?
The term “IRA” stands for individual retirement account, and its purpose is to help you save for retirement. IRAs are widely available at many financial institutions, and they don’t require the presence of an employer, like a 401(k) does. However,… read more…
- What Is a Defined Benefit Plan?
A defined benefit plan is a retirement plan in which employers provide guaranteed retirement benefits to employees based on a set formula. These plans, often referred to as pension plans, have become less and less common over the last few… read more…
- Top 5 Reasons to Work Past Retirement Age
Once upon a time you worked at a job for 40 years or so. Then they gave you a cake, a gold watch and a pat on the back and sent you on your way, never to be seen or… read more…
- Can You Trust Your Financial Advisor?
On March 15, 2018, the 5th U.S. Circuit Court of Appeals struck down the fiduciary rule. Former President Barrack Obama had initially called on the Department of Labor three years earlier to revise the rules and requirements for retirement advisors… read more…
- 10 Retirement Terms Made Simple
It’s best to begin saving for retirement sooner rather than later to ensure that your 65-year-old self is as financially secure as possible. But all the jargon associated with retirement plans can make them almost impossible to comprehend. It’s time for… read more…
- 4 Tips for Opening an IRA Before the Tax Deadline
Just because Tax Day might be on the horizon doesn’t mean it’s too late to dig up some extra savings on your taxes. Contributing to a traditional IRA for the current tax year is an easy way to score an additional… read more…