- A Guide to 457(b) Retirement Plans
A 457(b) plan is an employer-sponsored, tax-deferred retirement savings vehicle available to some state and local government employees. It works like a 401(k) in that employees can divert a portion of their pay to their retirement account. This provides an immediate tax… read more…
- What Are the Costs of Living on a Cruise Ship as a Retiree?
The first step in planning for retirement involves forming a clear vision of the lifestyle you want to enjoy. Often that means pulling up stakes and moving to another location in the United States or abroad – choosing your new home… read more…
- IRA Withdrawal Rules
When you’re ready to take withdrawals from your IRA, you’ll find there are plenty of rules to follow. Failure to stick to these guidelines could have serious ramifications. The most notable among these is a 10% penalty tax on IRA withdrawals made before age 59 ½. Beware, though, as traditional and Roth IRAs have two distinct… read more…
- What Is a Gold IRA?
A gold IRA is one way to save for retirement. As its name suggests, instead of stocks or bonds, it holds gold in the form of bars, coins and bullion. It can also hold other precious metals like platinum and silver.… read more…
- How to Make Withdrawals From Your 401(k)
Regardless of when you do it, making a withdrawal from your 401(k) requires you to follow a handful of rules. That’s because you’re tapping your tax-deferred retirement savings, which means the IRS keeps a close eye on it. During retirement, these withdrawals are also known as distributions. Perhaps the most important age when it comes… read more…
- What Is a Non-Deductible IRA? Definition and Contribution Limits
A nondeductible IRA is a retirement plan you fund with after-tax dollars. You can’t deduct contributions from your income taxes as you would with a traditional IRA. However, your non-deductible contributions grow tax-free. Many people turn to these options because… read more…
- A Guide to the 5 Stages of Retirement
Retirement planning is a lifelong process that takes ample organization, forethought and effort to do successfully. The easiest way to manage this sometimes overwhelming venture is to split your retirement planning into different sections. Lucky for you, there are already… read more…
- What Is Indexed Universal Life (IUL) Insurance, and Is It a Good Investment?
In exchange for paying premiums, life insurance provides beneficiaries with a large payment upon the insured’s death. It’s a way to protect your family after you pass, especially if that happens when they still depend on you financially. But there are… read more…
- What Is a Qualified Domestic Relations Order (QDRO)?
Not to be confused with a divorce decree or property settlement, a qualified domestic relations order (QDRO) specifically recognizes an ex-spouse’s, or soon-to-be-ex-spouse’s, interest in the other spouse’s qualified retirement plan. A QDRO can also recognize the rights of the… read more…
- Is a Variable Annuity a Good Idea?
Variable annuities offer strong growth potential and considerable risk all at once. Because the returns you earn through a variable annuity are based on the performance of an investment portfolio, you stand the chance of losing money. However, there are… read more…
- What Is Social Security?
Social Security provides a progressive benefit. This means it’s weighted so that it replaces a larger percentage of earnings for workers who were on the low end of the income scale than on the high end. Still, how much you… read more…
- What Is a Roth 401(k)?
A Roth 401(k) brings many of the benefits of a traditional employer-sponsored 401(k) retirement savings vehicle. But with a traditional 401(k), you save for retirement with pre-tax dollars and write off your contributions from your taxes. With a Roth 401(k),… read more…
- What Is a Target-Date Fund and How Does It Work?
There’s about $1.8 trillion in client assets invested in target-date funds (TDFs), according to Morningstar. In fact, it’s likely your 401(k) or IRA offers a target-date fund as an investment option. This makes TDFs extremely accessible retirement savings options. The beauty… read more…
- What Is the Three-Legged Stool of Retirement?
Retirement is on many people’s minds, whether they are approaching it or still early in their careers and just hoping they won’t have to work until they’re nearly 100. Those contemplating retirement may envision a recliner or deck chair. A three-legged stool, though, is the preferred seat for retirement metaphors. The image of retirement finance as… read more…
- What to Do If You Miss Your RMD Deadline
If you miss the required minimum distribution (RMD) for your retirement account, you’ll essentially have two choices: pay a substantial fine or apply for a waiver. Either way, you’ll have a bit of paperwork to fill out, and of course… read more…
- 10 Ways to Live Frugally in Retirement
You may have visions of spending your retirement on a sun-soaked vineyard in wine country. But according to a 2022 report by the AARP, about 57 million working-age Americans (48%), ages 18-64, do not have retirement account assets. If you… read more…
- Social Security Tax Limit for 2026
The most you will have to pay in Social Security taxes for 2023 will be $9,932. That’s what you will pay if you earn $160,200 or more. As its name suggests, the Social Security tax goes to the Social Security program. For… read more…
- What Retiring Baby Boomers Mean for the Economy
Almost 10,000 baby boomers turn 65 every day. The famed generation, defined as those born between 1946 and 1964, is causing something of a stir as they reach retirement age in droves. The Census Bureau says that in 2020, the… read more…
- How to Retire in Panama
If you plan correctly, retirement can be one of the great adventures of your life. What is more adventurous than packing your bags, leaving America behind and spending your golden years immersed in a completely new culture? One option to consider is Panama, a central American country, popular with American, that offers a number of… read more…
- Are You Eligible For Social Security Benefits?
If you’ve worked in the U.S. for at least a decade, you can expect to receive some Social Security retirement benefits once you retire. The idea is that if you pay into the system throughout your career via FICA payroll taxes, then you… read more…
- The Basics of Self-Employed Retirement Plans
Saving for retirement is one of the most important financial decisions you can make. Proper planning can mean the difference between a retirement of travel and time with loved ones and one spent working a new job to make ends… read more…
- 10 Social Security Secrets You Should Know
Social Security benefits may be an integral part of your financial picture in retirement. In fact, 55% of retirees and pre-retirees aged 50 or older say Social Security will be their main source of retirement income, according to a 2018… read more…
- Will Social Security Run Out Before I Retire?
While there are a lot of questions about the future of Social Security, the fact is that it is highly unlikely the program will ever actually run out of money. The federal government founded the Social Security program during the… read more…
- A Guide to SIMPLE 401(k) Plans
A Savings Incentive Match Plan for Employees, or SIMPLE plan, can come in the form of an IRA or a 401(k). While both SIMPLE plans are a lot alike, the 401(k) plan is a little easier to understand and put… read more…
- How Much Are HOA Fees?
If you picture living in a planned community full of amenities and happy neighbors, you’re probably asking yourself: How much are homeowners association fee (HOA fee)? Some studies suggest that you can expect to pay HOA monthly fees between $200… read more…