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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…
Read MoreMy wife and I are close to retirement, but we want to buy a house. Should I ‘clear out’ my 401(k) for the down payment?
‘I am over 59 years of age, and I am hoping to retire in six years. My wife may retire a little before that’ A Market Watch reader wrote into their sight asking for some insight about their 401(K)s and if you want to know more about how the Market Watch answered check out this…
Read MoreWhy 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…
Read MoreNew 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…
Read More3 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 MorePODCAST 63: 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…
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