This is the second part of a two-part article on 401(k) Tax Mistakes In the first part of this article on 401K mistakes (here), we discussed the fact that overdoing your 401k contributions can cause you tax troubles down the retirement road. Because this is not an obvious mistake, it tends to sneak up on […]
401(k) Tax Mistakes – Part 2 Read More »
This is the first of a two-part article on 401(k) Tax Mistakes. Have you ever heard the story of the frog that was tricked into climbing into a kettle of nice, cool water by a hungry foe? Unbeknown to the comfortable frog, the kettle he was lounging in was really on a stove. Slowly but
401(k) Tax Mistakes – Part 1 Read More »
This is the second post of two on the Hidden Pitfalls of IRAs and 401(k)s. In our last post here, we discussed the penalties associated with withdrawing money early from either IRA’s or 401(k)’s. In this second post on this subject, we’ll talk about another aspect of these plans that creates problems. The rules-based conditions
Hidden Pitfalls of IRAs and 401(k)s – Part 2 Read More »
This is the first post of two on the Hidden Pitfalls of IRAs and 401(k)s. We hear a lot about them. In the world of retirement savings, the terms IRA and 401(k) are almost synonymous with the word retirement itself. According to ICI.org, as of the end of 2018 such accounts held over $16 trillion
Hidden Pitfalls of IRAs and 401(k)s – Part 1 Read More »
Putting together a successful retirement strategy that takes into consideration investments, taxes, income needs (including social security), medical/healthcare needs and estate planning is like fitting together the pieces of an intricate puzzle. The one major difference in this metaphor is when it comes to your retirement puzzle, some of the puzzle pieces are constantly changing!
Annuities: Fact and Fiction Read More »
There is a significant retirement savings gap going on in America. Where do you stand regarding retirement savings? According to this survey by the Transamerica Center for Retirement Studies, the median retirement savings by age in the U.S. is: Americans in their 20s: $16,000 Americans in their 30s: $45,000 Americans in their 40s: $63,000 Americans in
Are You Saving Enough for Retirement? Probably Not! Read More »
This the final article in a four-part series on common retirement planning mistakes and how to avoid them. Over the last three articles (part 1 here, part 2 here, part 2 here), we have visited three common misconceptions about retirement planning: Retirement strategies are just for the wealthy Putting away a consistent amount of money
This is the Third in a Four-part Series on Common Retirement Planning Mistakes As I continue to mention in each part of this series (part 1 here and part 2 here), every year thousands of people still retire or attempt to retire without seeking professional advice or having a well-developed game plan for their retirement.
This is the second in a four-part series of articles on Common Retirement Planning Mistakes. In our previous post in this four-part series on retirement planning, we talked about the common misconception only wealthy individuals need to engage the services of a retirement planning professional and how not doing so could be a very costly
Retirement Planning Mistakes – Part 2 Read More »
An Opinion piece in the Wall Street Journal the other day detailed “The Secure Act”, a new law being considered in Congress, that has tremendous implications for any person’s retirement plans. We thought you all might find interesting and informative and you can find the original article here (paid Wall Street Journal account required to
“The Secure Act” – Is Congress Coming for Your IRA? Read More »
