Retirement

Consequences of Taking Money From Your 401k

March 19, 2013
401k

As we begin our working careers, retirement seems like a distant concept; and rightly so, for many it is 30 to 40 years away.  Because it is so far away, many people starting out do not even bother to enroll in the 401k available through work.  Those who do enroll will fall into two basic [...]

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4 Reasons Not to Dip Into Your 401k

February 28, 2013
401k

For anyone who has a strong 401k and has perhaps found themselves in a position where they could use a financial boost, it can be incredibly tempting to dip in. After all, having a resource such as this at one’s disposal is often considered to be somewhat of a security blanket, as it can truly [...]

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Can You Afford an Early Retirement?

February 20, 2013
Early Retirement

For most of those who are working, the goal is to someday be in a position to no longer have to work for their income.  Most people would like to retire early if they possibly can.  However, if they actually sit down and calculate out what it would take to retire early, they will see [...]

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Saving for Retirement When You Live Paycheck to Paycheck

November 5, 2012

We all know that we need to be saving for retirement. Gone are the days when hard workers could count on company-sponsored pensions and Social Security to comfortably see them through the golden years. But putting money away for retirement seems like a low priority when you’re barely making ends meet. According to a CBS [...]

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Adding an Annuity to Your Retirement Plan

October 17, 2012

As you approach retirement you usually have a few options of what to do with your money.  Rolling your 401k into your Traditional IRA is one of the most common approaches.  After that, many people simply take systematic withdrawals in the amount they need for their monthly living expenses.  This overlooks a product that has [...]

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Increase Your 401k Contributions

August 14, 2012

One of the easiest places to accumulate money for retirement is in a 401k.  As easy as they are to use, many people still neglect them.  Rather than worry about how you will live without that extra 3% in your paycheck, take some time to figure out how much more you will have during retirement [...]

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Beginner’s Guide to Finance – Approaching Retirement

July 23, 2012

The idea of retirement is one that we hear quite a bit.  However, the concept is still strange to many people.  They think it is always a long ways off.  However, for many it is closer than they may think, in fact retirement for baby boomers is happening now as the oldest of that generation [...]

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Should you Invest your 401K in your Employers Stock?

July 16, 2012

Owning your employer’s stock may allow employees to share in the success of a company.  Conversely, the employee bears the risk that a company’s financial problems will also become the employee’s.  Your retirement is at risk, not your employer’s, if your 401(k) plan contains too much company stock.  This risk has actually been the cause [...]

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How Aggressive Should I be with my Retirement Planning?

June 8, 2012

If you ever hope to retire and live off your savings, you need to be sure that you will have enough money to do so, and that your funds are safe and earning enough as you age. Experts recommend being prepared to have sufficient resources to generate between 70-90 percent of your earning power to [...]

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Can You Borrow Money from a Roth IRA?

June 6, 2012

The Roth IRA is an excellent place to store up money for retirement.  It provides great tax benefits, and the early withdrawal penalties prevent most people from taking the money out too soon.  But there are times when a person needs to access this money.  They just have too many bills that have piled up, [...]

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