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3 Drawbacks of Using Only a 401(k) for Retirement
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…
Read MorePODCAST63: What Do You Do with a 401k Check?
Get your complimentary guide to go with this episode: 5 Things to do With Your Old 401k:
Read MoreMany 401(k) investors don’t use target-date funds the right way
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…
Read MoreShould 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. …
Read More5 Important Steps to Managing Your 401(k)
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,…
Read MoreShould I roll over my 401(k) when I move to a new job — and if so, how? What to know about rolling over your retirement accounts
There are plenty of questions to ask before rolling over your old 401(k) There are plenty of reasons why rolling retirement assets from one account to another makes sense, but there are also plenty of questions to ask and answer before making that decision. Investors may decide to move money from one retirement plan to…
Read MoreMost workers wait years for a company’s 401(k) matches to vest
Many workers who stash money in a 401(k) retirement plan get some sort of matching contribution from their employer — it just may be a while before that money is entirely theirs. While the majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, just 28%…
Read MoreHow to find your lost 401(k) and other retirement accounts
Have retirement money set aside but don’t know where? Try these strategies Between job changes, growing families, maybe even cross-country moves, losing access or forgetting about a retirement account is completely plausible. Retirement Tip of the Week: If you think you have money floating around in a 401(k) or pension somewhere, try and find it…
Read MoreHere’s how to handle the complicated rules for an inherited 401(k) or IRA
KEY POINTS If the original account owner died on Jan. 1, 2020, or later, only certain beneficiaries can stretch withdrawals across their lifetime. Others need to deplete inherited retirement accounts within 10 years of the death. Here are the details. So you inherited a retirement account. Before you make any decisions on when and how…
Read MoreWe 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),…
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