Over 20% of 401(k) plan funds are lost or forgotten—here’s how to reclaim yours

If you’re not at your old job, your old 401(k) shouldn’t be either. Learn how to find your old 401(k) in this article by CNBC.   Enjoy this complimentary download: By submitting your contact information, you consent to be contacted regarding retirement income strategies that utilize investments and insurance products. Source Article: https://www.cnbc.com/2022/06/03/over-20percent-of-401k-plan-funds-are-missingheres-how-to-reclaim-yours.html#:~:text=You%20can%20start%20with%20the,your%20first%20and%20last%20name.   Investing…

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Why 401(k) rollovers are so annoying

The logistics of changing jobs is already mentally taxing enough but having to navigate what to do with your old 401K can be the last straw. This article by Axios can reaffirm some of your frustrations  about why moving your 401k can be just as annoying as it seems.   Enjoy this complimentary download: By…

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New Standard Deduction And Higher New Tax Brackets For 2022

Higher tax brackets and a larger standard deduction in 2022 may offer some relief for taxpayers who are seeing their budgets busted by inflation. The IRS has announced new standard deductions and new tax brackets for 2022, reflecting higher price levels thanks in part to inflation. Top Tax Bracket for 2022 While the top federal…

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3 Drawbacks of Using Only a 401(k) for Retirement

paying bills on computer

Key Points You are paying fees in your 401(k), and those fees are reducing your investment returns. Some 401(k)s have great investment menus, and others do not. 401(k)s have early withdrawal restrictions, which can prevent you from retiring early. Some 60 million people are actively saving money to a 401(k). The workplace retirement account has…

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Many 401(k) investors don’t use target-date funds the right way

401k saving

KEY POINTS Target-date funds are meant as a one-stop shop for 401(k) plan investors. A third of investors don’t use them this way, however, according to Vanguard data. This may inadvertently skew one’s asset allocation over time. The trend has improved over the past decade, however. And some investors may not be misguided in their…

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Should I roll my Roth 401(k) into a Roth IRA?


Q.: I’m thinking of retiring and rolling my Roth 401(k) to a Roth IRA. A co-worker says if I roll it to a Roth IRA, I can’t touch it for five years without penalty. I thought penalties ended at 59½. I’m 68. Can you clear this up for me? Sam in Dallas A.:  Sam, I’ll try. …

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5 Important Steps to Managing Your 401(k)

401k plan

Saving independently for retirement is a great way to help ensure that you have enough money to cover your living expenses as a senior. While Social Security may provide you with a nice chunk of cash, it generally isn’t enough to live on in the absence of other income. If you have a 401(k) plan,…

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