- What Is a Cash Balance Plan?
A cash balance plan is a type of retirement savings plan that combines features of both traditional pension plans and 401(k) plans, offering a unique approach to retirement savings. Unlike a traditional pension plan, where benefits are defined by a formula based on salary and years of service, a cash balance plan credits a participant’s… read more…
- 4 Ways to Minimize Taxes on Retirement Plan Withdrawals
If you’re working on building up a nice nest egg for yourself, it’s important to make sure that it’s going to last through retirement. One of the ways you can stretch your savings further is by structuring your retirement account withdrawals to minimize your tax burden. When you have money available from multiple sources, the order that… read more…
- Roth IRA Rules: Contribution Limits, Income Limits & Withdrawals
A Roth IRA can be a great way to stash away money for your retirement. Like all tax-advantaged retirement plans, however, the IRS has rules and requirements governing how they can be used. These include rules regarding the taxation of contributions and… read more…
- 3 Ways Retiring Early Can Hurt Your Finances
Early retirement isn’t the norm for most workers, but with some careful planning, it’s possible to quit the 9-to-5 grind 10, 15 or even 20 years ahead of schedule. Whether you plan to spend your golden years sunning on the beach or traveling the world, it’s important to be prepared for how leaving the workforce early… read more…
- What Is a Pension Plan? Definition, Types and How It Works
A pension plan is a type of retirement plan where employers promise to pay a defined benefit to employees for life after they retire. It’s different from a defined contribution plan, like a 401(k), where employees put their own money… read more…
- Is Social Security Income Taxable?
Social Security income is generally taxable at the federal level, though whether or not you have to pay taxes on your Social Security benefits depends on your income level. If you have other sources of retirement income, such as a… read more…
- What Is a SIMPLE IRA?
A SIMPLE IRA is a retirement savings option for the owners and employees of small business. True to its name, the SIMPLE IRA is easy to set up and administer. If you’re a business owner, a SIMPLE IRA lets you save… read more…
- What Is a Self-Directed IRA and How Does It Work?
A self-directed IRA is a tax-deferred retirement account for those who want more control than a regular IRA affords. Whereas a normal IRA has a fairly standard set of investment opportunities, a self-directed IRA lets you use alternative investments too. These could include real estate, commodities, private placements and more. This approach requires a bit… read more…
- All About Required Minimum Distributions
If you imagined spending your retirement only pulling from your retirement accounts when you need them, you’ll unfortunately be disappointed. The IRS wants you to start taking money out of your retirement accounts beginning at age 72 or 73. This… read more…
- What Is a 401(k) and How Does It Work?
A 401(k) is a common tax-advantaged retirement savings plan that’s available to employees through their employer. These accounts come in traditional and Roth variations, with each having their own tax benefits according to IRS tax laws. Because 401(k)s are integrated… read more…
- What Is a 403(b)?
A 403(b) is a tax-advantaged retirement plan available to many of America’s public employees, employees of universities and hospitals, religious leaders and workers at non-governmental organizations. Like a 401(k), a 403(b) comprises contributions that aren’t taxed right away. The contributions… read more…
- What Is an IRA, and How Does It Work?
The term “IRA” stands for individual retirement account, and its purpose is to help you save for retirement. IRAs are widely available at many financial institutions, and they don’t require the presence of an employer, like a 401(k) does. However,… read more…
- What Is a Defined Benefit Plan?
A defined benefit plan is a retirement plan in which employers provide guaranteed retirement benefits to employees based on a set formula. These plans, often referred to as pension plans, have become less and less common over the last few… read more…
- Top 5 Reasons to Work Past Retirement Age
Once upon a time you worked at a job for 40 years or so. Then they gave you a cake, a gold watch and a pat on the back and sent you on your way, never to be seen or… read more…
- Can You Trust Your Financial Advisor?
On March 15, 2018, the 5th U.S. Circuit Court of Appeals struck down the fiduciary rule. Former President Barrack Obama had initially called on the Department of Labor three years earlier to revise the rules and requirements for retirement advisors… read more…
- 10 Retirement Terms Made Simple
It’s best to begin saving for retirement sooner rather than later to ensure that your 65-year-old self is as financially secure as possible. But all the jargon associated with retirement plans can make them almost impossible to comprehend. It’s time for… read more…
- 4 Tips for Opening an IRA Before the Tax Deadline
Just because Tax Day might be on the horizon doesn’t mean it’s too late to dig up some extra savings on your taxes. Contributing to a traditional IRA for the current tax year is an easy way to score an additional… read more…
- Top 4 Mistakes People Make with Inherited IRAs
It’s easy to get lost in the midst of complications surrounding inherited IRAs. Unfortunately, the decisions beneficiaries make in the months after inheriting retirement accounts can mean the difference between a reliable income source and a hefty IRS bill. Let us walk you through the top four mistakes heirs make with inherited IRAs and share our… read more…
- The Pros and Cons of Retiring in a Big City
Is retirement on your mind? If so, you may be wondering where to settle in your golden years. This choice can have a big impact on your happiness. Whether you’re living in a big city now or considering moving to one in retirement, it’s important to know the pros and cons of retiring in a booming metropolis.… read more…
- The Pros and Cons of Target Date Funds for Retirement
Maybe your 401(k) is invested in a target date fund, or you’re considering a target date fund for your IRA. You should know about the growing debate around an important question: How well do these funds work as retirement savings vehicles? Read on for the pros and cons of these popular funds. Find out now:… read more…
- 6 Best Places to Put Your Emergency Fund
What happens when the car breaks down or your refrigerator conks out or you end up missing a week of work because you’re sick? If you’re prepared, you just tap your emergency fund instead of relying on credit cards or… read more…
- 2025-2026 Retirement Contribution Limits
Funneling money into a tax-advantaged account, such as an IRA or a 401(k) is a must if you’re banking on enjoying a comfortable retirement. These kinds of accounts offer a much higher rate of growth compared to a regular savings… read more…
- Social Security Myths Busted
If social security were a person, 2015 would mark its 15th year receiving benefits. In other words, the most significant social benefits program in history turns 80 shortly. The program looks remarkably good for its age and shows no signs of slowing down or going away anytime soon. That is, unless you believe the rumors… read more…
- Is Phased Retirement the Right Move?
Making the transition from working 40+ hours a week to suddenly having tons of free time can be mentally jarring for some retirees, not to mention the impact it can have on your finances. Without something to occupy their time… read more…
- 6 Tips for Understanding Required Minimum Distribution Rules
Mapping out your retirement strategy involves more than just tossing money into a tax-advantaged account; you also have to pay attention to what the guidelines are for pulling the cash back out. Certain types of qualified savings plans, including 401(k)s… read more…