Retirement
9 min read
27 Sep 2023
What to Do If You Are 50+ With Over $2 Million in Your 401(k)
The 401(k) retirement plan is one of the most powerful tools. This tax-advantaged savings vehicle allows you to accumulate wealth steadily over a lifetime of diligent saving and investing. It offers employer matches to boost your savings. Moreover, it facilitates financial discipline with consistency. Reaching the age of 50 with over $2 million in your […]
7 min read
20 Sep 2023
What is a Vested Balance In Your Retirement Account?
In retirement planning, the concept of vesting is more than a contractual formality; it serves as a retention tool that incentivizes employees to remain with their employer for a certain period. By implementing vesting schedules for employer-contributed funds, organizations aim to foster long-term commitment and reduce employee turnover. Against this backdrop, understanding your vested balance […]
10 min read
13 Sep 2023
The Most Important Factor You’re Probably Overlooking In Your Retirement Planning
While grappling with various aspects of retirement planning, it is imperative to acknowledge a critical factor that often does not receive its due attention – longevity risk. Longevity risk refers to the risk that people are living longer lifespans than previous generations. Additionally, this trend is expected to continue in the future. While this is […]
9 min read
08 Sep 2023
Delay These 7 Actions Until Your Retirement Is Finalized
Most people feel a sense of anticipation and excitement before retirement. These are the golden years when you can finally reap the rewards of decades of hard work and have the freedom to travel, socialize, and pursue your passions. Yet, amidst the joy and delight, it is vital to remember that the journey to retirement […]
10 min read
06 Sep 2023
How Often Should You Check Your Retirement Account Balance?
Maintaining a balanced approach is critical in financial planning. Overindulgence in information can lead to poor decisions, and excessive monitoring of your retirement account balance can result in stress. This, in turn, can push you to make reactive choices that may not always work in your favor. Checking your retirement account balance too often can […]
6 min read
31 Aug 2023
Do You Still Need A Financial Advisor After You Retire?
Financial advisors play a crucial role in assisting you before you retire. They can assess your financial situation, long-term goals, risk tolerance, and investment preferences to create personalized strategies. They can also help you optimize your savings and investment plans, ensuring that you maximize your earning potential while minimizing risks. But their support does not […]
9 min read
25 Aug 2023
How to Minimize Your Tax Liability When Rolling Over to a Roth IRA
Tax considerations play a crucial role in retirement planning, as they can significantly impact your income and savings. Retirees must carefully strategize to minimize taxes during their non-working years. One practical approach is to convert traditional retirement accounts, like a 401(k) or a traditional IRA, into a Roth IRA. However, it is important to consider […]
9 min read
18 Jul 2023
Why a Roth IRA is a Game-Changer in Tax-Free Savings
With its unique benefits and long-term growth potential, the Roth Individual Retirement Account (IRA) has become a popular choice among individuals seeking to build a retirement nest egg. The Roth IRA can be a reliable and tax-efficient way to save for your future. It offers unique benefits and long-term growth potential. A Roth IRA can […]
10 min read
13 Jun 2023
5 Bad Habits That Can Sink Your Retirement Goals
Retirement planning focuses on the steps you need to take to achieve your desired retired life, such as saving and investing wisely, creating a budget, and considering your healthcare needs. However, it is also essential to be aware of the potential pitfalls and things to avoid during the retirement planning process. Overlooking mistakes or bad […]
9 min read
31 May 2023
The Pros And Cons Of A SIMPLE IRA Versus A 401(k) Plan
While both SIMPLE IRA and 401(k) plans serve the common goal of providing individuals with an opportunity to save for retirement, they differ in certain aspects that can significantly impact employers and employees. The SIMPLE IRA allows small businesses to offer retirement benefits to their employees without imposing excessive administrative burdens. With lower contribution limits […]
10 min read
25 Apr 2023
How Often Should You Rebalance Your 401(k)?
When investing in a 401(k), one of the most important decisions you can make is how often to rebalance your portfolio. Many people invest in their company-sponsored 401(k)s but only sometimes take the time to review the investments within the account. Rebalancing involves adjusting the mix of assets in your 401(k) portfolio to maintain a […]
11 min read
12 Apr 2023
Key Differences Between a Roth IRA and Pre-Tax Retirement Account
When planning for retirement, one of the most important decisions you will likely make is which type of retirement account to use. The Roth Individual Retirement Account (IRA) and the pre-tax retirement account are two common options. Both these accounts can offer tax benefits and the chance to accumulate sufficient savings for your retirement. But […]
10 min read
22 Mar 2023
What is Roth 401(k) Matching, And How Does It Work?
Many employers offer retirement plans to help employees prepare for the future. One of these options is a Roth 401(k) plan, which allows employees to contribute after-tax dollars toward their retirement savings. According to recent 2021 data, 95% of employers offered some form of contribution to employees, either matching or non-matching. Of these employers, around […]
10 min read
09 Mar 2023
Things to Consider When Deciding Between A Roth or Traditional Retirement Accounts
As of September 30, 2022, there were approximately $6.3 trillion in assets in 401(k) plans in the country. These assets represented the cumulative value of nearly 625,000 plans with 60 million active participants, among many former employees and retirees. The Individual Retirement Account (IRA) is an equally popular investment vehicle. An estimated 37% of households […]
5 min read
19 Oct 2022
Do I qualify for a tax credit for contributing to my IRA?
Individual Retirement Account (IRA) contributions play a vital role when it comes to retirement savings. They not only help you build a significant retirement corpus but also allow you to avail tax benefits. Once you invest in an IRA, you may be able to take a retirement savings contribution credit based on the amount you […]
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The blog articles on this website are provided for general educational and informational purposes only, and no content included is intended to be used as financial or legal advice. A professional financial advisor should be consulted prior to making any investment decisions. Each person’s financial situation is unique, and your advisor would be able to provide you with the financial information and advice related to your financial situation.