In the case of a financial emergency, you might have to borrow from your 401k plan to find the money you need. This is never an ideal scenario. Especially because taking money out of such accounts can severely set back progress you've made in saving ...
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Why It Pays to Start Saving Early for Retirement
No one is suggesting it's easy for someone in their 20s to imagine retirement but the day does come. Saving early for retirement is important because for every year you delay it, time becomes an increasing enemy.
With life expectancy increasing ...
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How to Retire on Time: 10 Things You Should Be Doing Now
Do you have grand plans to spend your golden years lying on a beach, hitting the links on weekdays, or sipping cocktails until the sun goes down? By following a few simple tips you can retire on your own terms - on time, or even earlier - and live ...
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Retirement Planning Tips: Finding the Right Financial Fit
Retirement planning can be a real head-scratcher, right? It’s this wild mix of daydreaming about lazy mornings and worrying about the bank account. You’re itching for that freedom; time to chill, explore, just live. But the money stuff? That can keep ...
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Why You Should Start Building Your Retirement Fund Early
Retirement may seem like a distant concern when you’re in your 20s or 30s, but the earlier you start saving, the better positioned you’ll be to enjoy financial security in your later years. Building your retirement fund early is one of the smartest ...
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Social Security Number Facts: 18 Things You Didn’t Know
This weekend I was looking through the safe that holds all of my most important documents, like family birth certificates, insurance policies and the secret recipe for mom's sauce, when I ran across my Social Security card.
Now I'll wager that, if ...
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11 Ways to Make Retirement Savings Grow Faster
Want to retire early? The fastest way to do that is to step up your savings game and make your retirement savings grow faster.
With that in mind, here are some suggestions for building your retirement fund at a quicker pace.
Crunch the ...
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Retirement Planning: The Cost of Withdrawing Retirement Funds Too Early
Deciding when to retire, and perhaps more importantly, deciding when to begin withdrawing funds from our retirement accounts is a major financial decision. Unfortunately for some people with retirement assets the only “rule” in place is a tax ...
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Your Retirement Fund: Avoiding Common Withdrawal Pitfalls
Retirement represents a significant milestone, offering an opportunity to enjoy the results of a lifetime of hard work. However, managing your retirement fund wisely is essential to ensuring long-term financial stability. This is because there are ...
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10 Essential Steps for Preparing for Retirement
Preparing for retirement is a significant aspect of financial planning that can impact your quality of life in your later years. Here are 10 essential steps to help you prepare for retirement.
1. Start Early and Set Clear Goals
The first step in ...
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Mailbag: Should I Contribute to the 401k or Save for a Home?
I have been doing financial research and would love your opinion. I'm a young stay-at-home mom, and my husband just graduated from college. He got a great job within a few months of graduating, and we are looking toward buying a home. His job, also ...
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A Guide to Retirement Budgeting on a Fixed Income
So you're planning to quit work soon and will be facing retirement on a fixed income? First of all: congratulations! Now, it's time to ensure that your money outlasts your life and that there's some left over for your children.
You can do that by ...
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10 Tips for Managing Long-Term Care for Elderly Parents
We all dread the day when we may be faced with making important life decisions on behalf of our aging parents. It's never an easy road deciding how to best care for the people who used to care for us, and there are plenty of variables that should be ...
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5 Ways You Can Plan For Retirement
Starting the retirement planning process is crucial in ensuring your financial stability. Strategic and thoughtful preparation is crucial, regardless of your employment status or impending retirement. With that in mind, here are five essential ways ...
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How to Make the Most of Your Military Benefits
Armed services benefits encompass a wide range of offerings, from education support to healthcare and retirement plans. However, making the most of these military benefits requires strategic planning and awareness. This guide will explore five tips ...
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Is It OK to Borrow from Your 401k?
Roughly 3 in 10 people now borrow money from their 401k retirement plans. Generally, you can borrow half your account balance -- up to $50,000 -- for as long as five years. But is it okay to borrow from your 401k? True, it's among the cheapest loans ...
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When Is the Right Time to Buy Long Term Care Insurance?
It's amazing how many people fail to plan for the future. It's also amazing how many people deny the reality that we only have a certain number of years before we have outlived our usefulness. We all know that life is short, but how many of us really ...
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Expensive 401k Mistakes People Make
If you're interested in saving for retirement, a 401k plan can't be beat. These employer-sponsored plans let employees save tax-free and choose from a range of investment options. The tax-free savings effectively lower your taxable income, which may ...
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34 Financial Tricks to Help You Retire Early
The other day our Stacking Benjamins podcast roundtable team was discussing an article on a popular mainstream financial website about how to retire early. I especially loved the story's first recommendation: "Start saving as early as you ...
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Is a Roth IRA Conversion Wise for You?
Unless Congress passes new tax laws during the next three years, the tax brackets from 2017 will be back in 2026, resulting in higher taxes for many people. For people in high tax brackets, wise tax planning is essential. One strategy to counteract ...
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