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If you’ve ever changed jobs, chances are you’ve considered rolling over your old 401(k) to an individual retirement account. But can you roll over your 401(k) even if you haven’t changed jobs? The answer lies in what’s known as an in-service rollover. However, before proceeding with one, you may want to speak with a financial advisor in your area about how to best save for retirement. Read More...
Rolling over your 401(k) to an individual retirement account is common practice when starting a new job. But what about doing the opposite: moving IRA assets into a 401(k) plan? While not nearly as common, these “reverse rollovers” do exist and may be an option if you’re an investor looking to merge multiple retirement accounts. When considering a rollover of any variety, it may help to work with a financial advisor who can guide you on your path to retirement. Read More...
Since their inception in 1987, 401(k)s have become the private sector’s most common employer-sponsored retirement plan — the Investment Company Institute says that there are roughly 60 million active participants in 2020. Participating in your company’s 401(k) is a key component of saving for retirement, allowing you to divert a portion of your pre-tax income into an investment account. A financial advisor in your area can answer questions about retirement planning and help you create a plan for your financial needs. If you recently switched jobs or simply have never before contributed to a retirement plan, here are several easy steps to follow for setting up a 401(k) account. Read More...
Market volatility is inevitable. Corrections happen every one to two years when stocks decline 10% or more from their most recent peak and usually last several months. Stock market crashes, on the other hand, are less common than corrections but more abrupt and severe. Look no further than the 2008 financial crisis or the 2020 crash ushered in by the coronavirus pandemic. But preparing for market volatility is possible. A financial advisor can help you shore up your retirement savings for inevitable market events. Here are five ways to protect your 401(k) nest egg from a stock market crash. Read More...
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Editor's Picks
Mar 17, 2021 Many people dread tax season. But if you're expecting a tax refund for the 2020 tax season - and even if you're not - you've got a couple…
Apr 09, 2021 "Chartered financial analyst" (CFA) and "certified financial planner" (CFP) are common certifications for individuals working in finance,…
May 01, 2020 Wealth management firms are all different. You need to make sure to do the work to pick the right one for you. Wealth managers work with…
Apr 09, 2021 If a financial planner or financial advisor is fee-only, that means they receive compensation solely from the fees clients pay from their…
Jul 23, 2019 If you’re young and you're looking to purchase a new home to live in, maybe you should consider turning your first home into an investment…
Data Articles and Studies
Tech jobs are particularly desirable, because they pay well, show long-term signs of growth and are less vulnerable to automation. But women have faced systemic difficulties in getting these jobs. And even when women do find jobs in the tech world, they earn 84% of what men in tech do, according to Census Bureau data, and thus have less opportunity to save. This is true at the national level, but there are some cities where parity between men and women in tech is less of a concern. Read More...
A large majority (75%) of taxpayers overpay on taxes and receive a tax refund, according to IRS data. A smaller proportion (19%) see the opposite: They will have overestimated their withholdings and learn they still owe the IRS some money. Apart from overpaying and underpaying, there is another small, exclusive group of savvy Americans who manage the Goldilocks fantasy: withholding just the right amount so, come tax time, the tax balance between them and the IRS reads an even zero. Read More...
Americans have greater than $800 billion in outstanding credit card debt, according to data from the New York Federal Reserve. What’s more, roughly 8% of credit card debt is delinquent by 90 days or more. If you’re someone saddled by debt and trying to avoid those lofty interest rates by paying it off, moving somewhere affordable with high-paying jobs is a great strategy. That allows you to accumulate money in your savings account so you can easily pay off any charges you rack up. Below, we rank the best places to get out of debt. Read More...
Videos
Patrice Washington says she is an accidental personal finance blogger. Regardless, it’s a role she seems born to play, and one she’s certainly making the most of! Patrice is now much more than a personal finance blogger, she is a personal finance educator, author and advocate. You can see, hear and read Patrice pretty much everywhere from the Steve Harvey TV and radio show to her own books on personal finance. We caught up with Patrice in New Orleans for this edition of SmartAsset Talks. Read More...
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