When you switch jobs, you don’t have to leave your 401(k) plan behind. There are four options for an old 401(k). These include: Cashing it out Keeping it with your former employer Rolling over your old 401(k) into a new employer’s 401(k) plan Doing a 401(k) rollover into an Individual Retirement Account (IRA) Each of […]
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Leaving behind an old employer? That doesn’t mean you have to leave behind your old retirement plan. In fact, if you handle the transition correctly, you can keep your tax-deferred status on that money It’s all thanks to a rollover IRA. But in order to keep the benefits of your old retirement plan, you have […]
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Traditional IRAs and Roth IRAs are both great retirement vehicles, each with attractive perks. They allow you to save extra retirement savings apart from your employer-sponsored 401k. However, which plan should you choose over the other? In general, Roth IRAs and traditional IRAs differ based on their income limits and the timing of the tax […]
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COVID-19 has certainly set some retirement savers back. About 17% of Americans are saving less for retirement due to COVID’s impact on their finances, according to a survey by The Penny Hoarder, and one third of Americans also say they will retire later than initially planned because of COVID, according to a study from Age […]
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If you are good at saving money, then you will probably reach a point where you need to do something with the money that you have saved. Having $10,000 in savings is great, but might not be the best use of this money. When we say “use” we don’t mean that you have to spend […]
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Are you self-employed or run a small business? If so, you’re probably looking for a way to save up some more money for your retirement or perhaps a way to get a tax break – and with so many different kinds of saving and retirement accounts out there, searching for the right one to invest […]
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A 401(k) account can be a powerful tool to help you plan and save for retirement. But should you decide what you should invest in to ensure the best outcomes? It comes down to education. To maximize your 401(k) earnings, you need to understand the types of investments offered by your plan and pick and […]
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Is it just us, or do retirement accounts sometimes feel like alphabet soup? IRAs? 403(b)s? 401(k)s (not to be confused with SIMPLE 401(k)s)? If you don’t know your SARSEP from your elbow, no worries. We’ve got you covered. Here, we’re taking a look at one of the most common retirement plans: the IRA. Let’s break […]
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A formula for investing success: strategic thinking=smart investments. Here are a few strategies to help you grow your money the smart way. How much have you invested in your future? If you’re like the average 20-something, your investment balance outside of retirement accounts is something to the tune of $10,711. That’s a big difference from […]
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Not sure where to begin with your 401(k) plan? Here are some of the best 401(k) investment strategies for every investor to keep in mind. For many investors, their 401(k) plan is the backbone account of their investments. Yet many investors mistakenly treat their 401(k) as if it’s a savings account—and that’s not the way […]
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Your 401(k) is a dynamic investment vehicle, and your strategies should reflect that. Here’s an overview of the best 401(k) investment strategies by age. For most of us, the single most familiar investment vehicle is our 401(k) plan. It’s one of the most common retirement accounts out there. There’s just one problem—while all of us […]
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