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We have $1.6 million but most is locked in our 401(k) plans — how can we retire early without paying so much in taxes?
Dear MarketWatch, I am trying to come up with a path to retire within the next two to three years and need some help. I will be 54 this summer and my wife is 48. Between us we make about $210,000 a year. We currently have about $1.6 million saved with $680,000 in my former employer’s 401(k),…
Read MoreWednesday Q&A Will the Windfall Elimination Provision crush my pension?
Will the Windfall Elimination Provision crush my pension? A teacher in New Orleans asks Gregory if her pension can get crushed by the Social Security Windfall Elimination Provision. Find out how pensions are affected by the provision in this Winning at Life clip. Do you have questions for Gregory? Press the ASK GREGORY below and…
Read More5 Drawbacks of Using Only a 401(k) for Retirement
A 401(k) retirement plan is an excellent tool to help employees save for retirement. Many employers offer a company match, which is basically extra compensation. Not only that, but you also usually get a tax break for your contributions in the year you make them. But if you’re only saving for retirement in a 401(k),…
Read More5 Downsides to Maxing Out Your 401(k)
Nobody will fault you for front-loading your retirement contributions, but be aware of the limitations. Your employer-sponsored retirement plan — for most, it’s a 401(k) — is one of your more important tools as a retirement saver. With a 401(k), 403(b), or 457 plan, you have the opportunity to contribute current income and take advantage of tax-deferred…
Read MoreWednesday Q&A Should I use my 401k to pay off my rental property?
Should I use my 401k to pay off my rental property? Gregory helps a caller who is thinking about dipping into his 401k to pay off his rental property to free up some monthly income. Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY We’re…
Read MorePODCAST47: Is Social Security Going Away?
Learn more about Social Security decisions with this complimentary guide:
Read MorePODCAST46: 401k Rollover Mistakes
Learn more about what to do with your old 401k with this complimentary guide:
Read More10 Costly 401(k) Rollover Mistakes To Avoid Now
Mistakes when rolling over your old 401(k) can be quite costly and annoying. Sadly, these mistakes are also quite common. On a happier note, these 401(k) rollover mistakes are easy to avoid. First off, not all assets in your 401(k) can or should be rolled into an IRA. Ignoring this can cause expensive tax problems…
Read MorePODCAST36: What are the rules for 403b savings plans
Check out our complimentary download, 5 Things to do with your old 401k below. If you have any questions please give us a call at 504-832-9200
Read MoreHow Do Your 401(k) Contributions Compare to the Average?
Are you keeping up with your peers? by Christy Bieber Contributing to a 401(k) is a smart way to save for retirement if you have access to this type of workplace plan. And you’ll need to make sure you’re investing enough for financial security as a senior. If you’re wondering how your contributions stack up…
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