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Ed Slott is one of the best tax experts in the country. He has said many times that an “IRA is an IOU to the IRS.” Simply stated, your large 401k accounts and Personal IRA’s have 3 huge TAX problems f...
The IRS issued Notice 2026-49 on August 12, 2026, with 4 optional sample forms and a 5-step process to simplify direct rollovers between retirement plans and IRAs. The guidance does not change rollove...
We're more than halfway through 2023 and we've already seen the impact SECURE Act 2.0 has on retirement planning. These first six months have given the financial industry time to identify some of the ...
I am a 60 year old single man hoping to retire in about 7 years. I make less than 60k/year. I was completely broke at 45 and I saved hard to get to a paid off condo (@60k value) and about 200k in my 4...
Dr. Tyler Scott answers listener questions about Trump accounts, gift taxes, HSAs, 457 plans, solo 401(k)s, and more. We also discuss an important distinction between financial moves that can meaningf...
Rebalancing is the act of periodically adjusting your 401(k) investments back to your intended asset allocation. While it does not guarantee higher returns, regular rebalancing may help manage risk, m...
I'm getting close to retirement and would love to hear some real-world experiences. How old were you when you retired, and roughly how much did you have saved (401k, IRA, pension, investments, etc.)? ...
We have a group of us at work that were severed last month. We're bouncing around ideas. A few want to take a few months off. If we do this and need insurance how does the ACA base our income? Let's s...
The backstory, so you understand how I got here: My brand-new husband died unexpectedly six and a half years ago (right before covid), and had no life insurance. Luckily, I make good money, so it didn...
Americans are saving more for retirement than ever before, yet more workers are also tapping their 401(k)s for financial emergencies. According to Vanguard’s How America Saves 2026 report, hardship wi...
I've got a decent chunk saved for retirement (to the point where I'm beginning to back off on contributions a bit), but I'm still a few years out, so I have some time to make some adjustments. What ar...
I’ve been with my advisor for about 8 years. I’m 61 and retiring at the end of July (in 3 weeks). The last several calls/virtual meetings with my advisor have gone a little too fast for me. I feel lik...
Recent events have reminded me of the old adage: "when it rains, it pours." Car died, landscaping bills due, dishwasher died, chair died. On and on, actually, in the space of a couple of months. My re...
I retired 2.5 years ago from a company. Immediately, my income went up. My current income is made up of a pension from a previous government career; income from commercial rental property; and deferre...
Private equity is finding its way into 401(k)s, but the risks (or benefits) for you may depend on how close you are to retirement. Here's what to look out for.
For those who are between 59 1/2 and 65, do look into doing (some) Roth conversions within your IRA/401K accounts. If you don't, you may end up in a bind in the future. I did not do any Roth conversio...
See what Vanguard's data says the median 401(k) balance is at every age — and why the average number may not represent most savers. The post Average 401(k) Balance by Age in 2026: How Do You Compare? ...
I am thinking of rolling my 401K which has a mix of mostly Roth and the company match in pre-tax into my existing Rollover IRA and Roth IRA. It seems like it will be simpler to manage and I will be ab...
Florida is the future retirement home. I’ve called Florida home for almost 50 years. I travel extensively for work and met BF six years ago. BF, future husband, lives in AZ. Plan is to sell both our r...
Howdy gang! I've been reading up on retirement and planning to do so in the next couple months (age 65). I see the 4% rule quite a bit but it just doesn't seem to jive with my actual annual returns no...
Thinking about pausing your 401(k) contributions? While it may seem like a quick way to free up cash, even a temporary pause may reduce compound growth, eliminate employer matching contributions, and ...
Hello, I am recently retired. I am not collecting SS yet. I am living off of my wife's small income and a severance I received from work. I have a very healthy 401k balance a few small pensions so we ...
Hello all, i am still a few years from retirement, but trying to prepare in advance. I have used Boldin to try to figure things out and watched a bunch of videos etc on retirement income etc. however,...
Most of the physicians we work with have a 401(k) story that sounds the same. They start funding it the ... Read more
When it comes to retirement savings, Roth IRAs are among the most powerful tools for achieving tax diversification and financial flexibility. Knowing how and when to tap into your Roth IRA can make a ...
Wondering what to do with your 401(k) during market volatility? While market downturns can be unsettling, panic selling, stopping contributions, and taking early withdrawals often cause more damage to...
Back story: - 2015 Spouse retired at 65 and receives SS. - 2021 I retired at 64.6 and receive a monthly pension and SS. - Prior to retirement, we were able to save ~300K in cash. ~400K in 401. In 2014...
It took me seven years to reach the $250,000 threshold in my solo 401() that necessitates that I fill out Form 5500-EZ. Here's how I did it. The post Solo 401(k)s and Filling Out Form 5500-EZ appeared...
If wealth management clients have children who are recent college graduates, pointing them in the right direction on their first 401(k)s helps build strong connections with two generations.
A 401(k) offers several powerful retirement benefits, including tax advantages, employer matching contributions, catch-up contributions, and long-term investment growth. Understanding these benefits o...
IRAs now hold a $9 trillion surplus over 401(k)s, largely due to rollovers. Learn how to secure your retirement savings against legal risks and hidden fees.
In spite of two divorces, two bankruptcies, and one short sale, I have been able to somehow amass about $500,000. I am going to retire at the end of this year at 66. I already started taking SS, and h...
401(k) withdrawal rules determine when you can access your money and what it will cost you. While you can typically withdraw penalty-free after age 59½, earlier withdrawals may trigger taxes and penal...
Hi, all. Planning for retirement next year. Looks like my social security and pension (both inflation-adjusted, a bit less for the pension) will cover my basic budget without the need to tap the 401k,...
The Trump administration's push for alternative investments in 401(k)s steamrolls ERISA law, argues Knut Rostad.
I am considering retiring in a couple of years. I have 4.780% $125K mortgage that matures at the end of 2033. Should I: Pay off the principal in full now and bank what I would pay monthly. Wait to pay...
Today on Your Money, Your Wealth® podcast number 580, Joe Anderson, CFP®, and Big Al Clopine, CPA, are spitballing for some folks who've done the work, hit the numbers, but aren’t sure if they can rea...
In this episode, Jessica Porter and Hayley Porter, financial planners at BPG Wealth Management, speak to 401(k) Specialist‘s Managing Editor Amanda Umpierrez about the 401k Girls, a financial educatio...
Wish we all could see the future! Will be 70 later this year. Still working part time, started collecting SS at FRA. Divorced long ago, never really recovered financially. Work recently started a 401k...
When you leave a job, you have several options for your 401(k), including leave it, roll it over to an IRA or your new 40(k), or cash it out. Each choice has different tax implications and can impact ...
There’s a story behind this story, but I’m going to save “That Story” until the PS at the end (don’t miss it, it’s golden). With that disclaimer, let’s get started. […] The post How I Became A 401(k) ...
Many workers find it easier to leave 401(k)s behind when they move to a new job, or cash out small balances that are better left invested, but you have options.
Saving into Roth instead of traditional accounts to bring down required minimum distributions in retirement, and whether retiring early is in the cards: that's today on Your Money, Your Wealth® podcas...
401(k) mistakes aren’t just about saving too little – they’re also about poor planning. Common issues like tax-heavy accounts, lack of diversification, and early withdrawals can reduce your retirement...
You can do everything right and still feel stuck. Save aggressively. Max out your 401k. Build a large portfolio. And then one day realize you can’t actually use it when you want to. In this episode, J...
I always put the maximum amount allowed into my 401K. Now I realize that I will be paying high taxes when I need to take RMDs. Now I realize how much lower my taxes would be if I only lived off of qua...
Alternative investments could appear on some 401(k) menus in the year ahead. Here’s what that means for investors.
A proposed federal rule aims to clear the way for retirement savings plans to include alternative assets. But it may not be enough to protect employers from lawsuits.
In this episode of the Retirement Answer Man, Roger Whitney explores the critical decision of when to claim Social Security benefits, weighing the pros and cons of taking them early versus delaying. T...
How AI, Gig Work and Contract Jobs Are Changing Retirement: The Shift from Pensions and 401(k)s to a New Work Contract Is Reshaping Worker Financial Security