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You might not own all of the money in your 401(k)
You might not own all of the money in your 401(k)—here’s how to find out Financial advisors make a big deal of encouraging millennials to invest in company-sponsored retirement accounts — especially if your employer offers to match a percentage of your contribution. There’s a lot of talk of “maxing your match” and don’t leave “free money…
Read MoreRetirees’ Mandatory IRA Withdrawals Would Shrink Under Treasury Plan
The Trump administration is updating life-expectancy tables governing required withdrawals from tax-advantaged retirement accounts By Richard Rubin Updated Nov. 7, 2019 4:51 pm ET WASHINGTON—Retirees could take smaller mandatory withdrawals from their tax-advantaged accounts under a new Treasury Department proposal designed to adjust for rising life expectancy. If finalized, the rules would take effect starting in 2021,…
Read MoreThis Dire Stock Market Warning Is ‘Fake News,’ Analysts Say
Worries of an ETF bubble persist even as exchange traded funds soar in popularity. But two ETF professionals say they have proof the biggest worries about ETFs are “fake news.” Do ETFs threaten the market’s structure by making it too easy to pile into — or bail out of — the same stocks or bonds at lightning…
Read MoreHow much you’ll need to save monthly to retire with $5 million
Five-million dollars sounds like a lot of money. And for the 22% of Americans who say they have less than $5,000 set aside for retirement, saving that much may seem like an impossible goal. But what if you could retire with $5 million by the time you were 67? The good news is that it is…
Read MoreHow to Take Advantage of 401(k) Catch-Up Contributions :usnews.com
The 401(k) Catch-Up Contribution Limit for 2019 WHEN YOU TURN 50, YOU become eligible to contribute more money to your 401(k) plan. The tax deduction you can claim on these catch-up contributions could save you over $1,000 on your annual tax bill. Here’s how to take advantage of 401(k) catch-up contributions: Workers can defer paying income tax on…
Read MoreThe Worst Financial Mistake A Car Buyer Can Make
The prospect of paying too much for a new vehicle often fills shoppers with dread, which explains why so many invest hours researching prices, trade-in values and interest rates. But while getting a good deal is important, it does not guarantee immunity from making the costliest financial mistake: purchasing the wrong vehicle and selling it…
Read More5 Sources of Retirement Income That Aren’t Taxable
Keep more of your money during your golden years by incorporating these into your retirement plan. Just as taxes are a huge burden for working Americans, they can also be a drain on seniors’ limited resources. If you’re worried about affording your golden years, it pays to set yourself up with a number of income…
Read More7 retirement saving mistakes financial advisers see too often
Saving for retirement is confusing – it’s no surprise we make mistakes along the way. Luckily, there are strategies to get back on track. Below, financial planners share the most common mistakes, and how they help their clients recover. 1. Failing to create a plan A retirement plan is one of the best ways to…
Read MoreAffluent Millennials Don’t Think They’ll Retire By 65
According to New Investopedia Study, Affluent Millennials Aren’t Investing Enough, and They Know It Investopedia (www.investopedia.com), one of the world’s largest financial and investing websites, announced findings from a recent survey, which found that nearly half of affluent millennials say they think they will be forced to work beyond retirement age. While millennials see investing as…
Read MoreHow to Take Advantage of Tax Reform Before Year's End
by: Jude Heath CPA 6 tax savings ideas to consider before year’s end 1. Pay your 2018 property taxes early If your state and local taxes will be greater than $10,000, pay the excess by December 31st, leaving $10,000 to deduct in 2018. 2. Make an extra mortgage payment Make your January mortgage payment in…
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