Tag: Retirement
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Retirement Planning If You Started Late
There can be many reasons for starting to save late. Not everyone hits the jackpot and a stable job in their 20s or 30s. Some people are occupied with family duties, some struggle to pay off student debt, and some are just complacent. Regardless of the reason, the importance of retirement planning cannot be stressed ... -
Things to Know If You Are Planning an Early Withdrawal from Your Roth IRA
An Individual Retirement Account (IRA) is designed as a tax-deferred investment option to earmark funds for retirement. There are several types of IRAs, for example, a traditional and a Roth IRA for individual taxpayers, or a SIMPLE and a SEP IRA for small business owners.All of these accounts follow a fixed set of rules for ... -
Deciding What to Do with Your 401(k) Plan When You Change Jobs
Changing jobs comes with a tinge of uncertainty and lots of hope. With every new job, you have a chance to excel and move a step forward in your career. What many people do miss out on is the fact that every new job is also a step towards retirement and therefore, can impact your ... -
How to Get Your Required Minimum Distribution Right
Most people spend their entire lives trying to find ways of saving and investing their money so that they can have a comfortable retired life. What they don’t realize is that the withdrawals from many of these schemes can ultimately trigger taxes. Retirement should be a time to relax and enjoy your life’s savings, but ... -
Here’s All You Need to Know About the Supplemental Executive Retirement Plan (SERP)
A company is made up of different employees. Some are fresher trainees, just starting out their careers, and some are high ranking officials with years and years of experience. Every company has a different set of regulations while dealing with different categories of employees, based on their qualifications, departments, time spent in the company, salary, ... -
How to Pay for Education Expenses with an IRA?
Individual Retirement Accounts (IRA) and 529 plans or education savings account (ESA) are always kept on the far ends of the financial planning spectrum. While IRAs and 401 (k)s are a common investment tool for retirement planning, 529 plans and ESAs are considered the obvious choice for education funds. In this article, we are going ... -
Actionable Strategies to Make Your Retirement Assets Last Longer
The importance of retirement planning cannot be stressed upon enough. Considering the increase in the number of centenarians in America, a person who retires at the age of 60, may have another 30-40 years of living without an income. Moreover, women generally live longer than men, adding some more years to their retirement. You must ... -
Here’s All You Need to Know About Inherited IRAs
40 years ago, when Individual Retirement Accounts or IRAs were rolled in motion as a vehicle of retirement savings, no one saw the generational turn investors would take. Since then, IRAs have become a popular investment tool. While opening an IRA, account holders generally have to name a beneficiary. These beneficiaries get precedence over anyone ... -
The Best and Worst States to Retire in
Retirement is a golden period. You no longer have to wake up early and go to work. You do not have to sweat it out and meet deadlines. The kids are settled and can take care of themselves. You really are on your own, living your life in a blissful, slow, and steady fashion. If ... -
Shedding Light on The Myths of Retirement
Certified financial planner, Mark Singer, wrote in his book, The Changing Landscape of Retirement – What You Don’t Know Could Hurt You, “I feel that one of the most important lessons that can be learned is that what we “see” may be different than what is actually in front of us.” Retirement planning can be ...