“The main thing you can do to plan for your retirement is to save.” PointImages / Shutterstock Retirement may seem like an abstract, far-off goal (unless you’re already independently wealthy or a 401(k) ninja, in which case—respect). But you’ll never drink mai tais on the beach in your seventies unless you start saving money now.…

Read More

What should I do with an old 401(k)? Winning at Life listener calls the show to ask Gregory what his wife should do with her 401(k) as she has lost her job. If you have more questions about your old 401(k), we can help! Check out the 401(k) Q&A Webinar to discover what to do if you’re not…

Read More

Yes, many of us have taken a big hit. Stick to your principles — and be flexible. Getty Images Since the stock market’s coronavirus-related meltdown, I’ve tried to avert my eyes from the train wreck that doubles as my family’s retirement plan—brokerage account, 401(k), Roth IRA, you name it. My next meet-up with our financial adviser will be a first:…

Read More

The IRS is expected to come out with additional guidance, but here’s what we know so far. Getty Images The coronavirus stimulus package, known as the CARES Act, allows retirees who are 72 or older to skip required minimum distributions from IRAs and other tax-deferred accounts for 2020. Here are answers to questions about the waiver. I…

Read More

Financial Advisor Talking To Senior Couple At Home Signing Documents Smiling GETTY One of the most common mistakes I see people make is overestimating their tax rate in retirement. This is important for a couple of reasons. First, as Roth 401(k) and 403(b) plans become more common, estimating your future tax rate is a big factor…

Read More

Take these steps to protect against unpleasant surprises now and in retirement. Over the past few months, a lot of people’s financial goals have shifted. Rather than thinking about their futures, many are worried about how they’re going to make ends meet each month. And rather than filling up their 401(k)s, some are tapping them…

Read More

“A groundbreaking new study holds troubling news for millions of Americans now nearing retirement age,” pronounces an influential Washington, DC think tank. The study, authored by a prominent economist, finds that “More than 40% of households headed by someone between the ages of 47 and 64 will not be able to replace even half of…

Read More

Despite 40 million people filing for unemployment benefits since the start of the pandemic, there are a number of sectors that haven’t shown their full extent of layoffs. A number of large employers, like airlines, have held off on vast cuts. This could lead to a rash of further layoffs. Airlines, for example, are prohibited from cutting…

Read More

It’s a question on the minds of those in retirement or nearing retirement. How much of your nest egg can you spend each year without running out of money in retirement? In 1994, financial advisor William Bengen published a paper that answered this very question. His paper—Determining Withdrawal Rates Using Historical Data—was published in the…

Read More