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Many employees wonder if their employer will find out when they take a 401k loan. When you borrow money from ... Read more...
How much money have you saved in your IRA or 401K? Making contributions to one of these tax-deferred retirement accounts is easy. But withdrawing this money in retirement … gets complicated. Th...
IRA, 401k balances and investments...how often do you check them and why? Daily? Weekly? Monthly? When the mood strikes? When there's market news? Out of habit? To update planning sheets? Because you'...
All eggs in one basket for retirement How many folks have their entire retirement funds (cash, 401k, IRA, etc) in one company such as Fidelity? I’m interested in hearing about pros and cons of h...
The stark difference in Black and White workers’ wealth is old news. But now we have some fresh information about the wealth gap: it grows as people age and move through their retirement years. ...
After I left the Navy I started working and putting money in a pre-tax 401k. About a year ago I decided to shift my contributions to a Roth 401k. But still about 90% of my 401k is pre tax. I wish I ha...
Spouse (62) is cutting back to part time soon and will still have health insurance. We're going to start taking distributions from one of the 401Ks to make up for the loss of income. (Funny thing is s...
I can't stand it. I lost $2k last week due to stock market volatility. I understand that a 401k is a long term investment, or you make more conservative choices. Screw that! I can put my money in the ...
Fidelity retirement specialist is telling me that I could take a portion of my 401(k) money and put it in what is called an anchor strategy. He is proposing an annuity for three years. The goal would ...
In 2006 I converted a 401k via a 72T mechanism that put the proceeds into a variable annuity (VA). I have been drawing a monthly benefit from that account to date. I was recently advised that I have t...
The easiest way to become a millionaire is to max out your 401k contributions every year. It’s a lot of money to put away but trust me. Your 401k will grow and become the foundation of your port...
Reader feedback leads to the enhancements in 24th Edition of plan fee benchmarking tool,…...
I retired at 60 and have been living on savings for a couple of years. Late last year I reached 62 and started receiving my SS benefits. So I'm not worried about paying taxes on my annual income for 2...
The U.S. government has made it easy for you to save for retirement in a traditional IRA or 401K. But there’s a hidden risk that most people don’t see until it’s too late. Putting mo...
Typical retirement strategies assume a retirement age of over 60. With an earlier retirement goal, a careful look is required to determine what strategies will create the best outcome. James responds ...
I currently have about 1.7 million in company 401k and will be turning 61 in July. I also have about 35k in HSA and have medical coverage thru VA. If I stay with my current employer(which I've been wi...
There is a common rule-of thumb that 4% can be withdrawn from a IRA or 401K account each year in retirement, and the balance of the account should not go down. What would be the reasons for a retired ...
My plan is to retire in April 2024. Two years ago I converted my 401K into an IRA but I continued to fund the 401k (so I would continue getting matching funds by my company). So the 401K will be about...
If you have rollover IRA accounts and want to make a backdoor Roth IRA contribution, this episode is for you. There are several steps involved to handle this strategy in the right way including unders...
I've taken all my 401k and rolled it over into an IRA in Vanguard. Now Vanguard is suggesting I contribute to an IRA. Is that a good idea? Will it reduce my taxes or income? I don't expect I'll need a...
My company's 401K plan permits periodic distributions/installments after termination from employment upon reaching early or normal retirement age. I retired at the normal age last month. The plan admi...
As part of our efforts to bring you actionable strategies to help you reach your ideal retirement, we’re tackling a complex question today. The backdoor Roth strategy can be a way to increase yo...
What do you cash in first, IRAs or non-IRAs? We have a gap of 4-6 years between retirement and claiming SS. We need to draw from savings, should we cash the IRAs or the non-IRAs (mainly 401k's and mon...
Me and my wife both 67 I've worked full time her a few years as we raised 5 kids. Was hard to save in those early years but last few have been great. Managed to have 600k in 401k 600k already taxed ea...
Please explain. My husband is a recently retired postal employee and we are confused if we can take out large amount out of 401k and not lose his pension? He says he can only make $22,000 a year now t...
My company/401k investment firm only allows 50% of my wages to be deducted. This level of deduction does not allow me to max out my over 50 additional $7500. I believe this is form of age decimation? ...
Not sure this is an option, but I have an active 401k with my employer and I was thinking about having it managed. Has anyone converted an active 401k to an IRA and had it managed? My returns have bee...
Well as the title said I’m F49. I’ve never been married and I don’t have any children. I do not own a house and have about $2000 in my checking account. I make about $58K a year. I&r...
I'm retired and collecting social security. I'm considering going back to work part time but I don't want to add much income. I don't need the $ and it will only cause my health insurance to cost more...
I have a decent 401K from a job I left 6 years ago. I left the money there because it was doing really well. Well, now it's not. It lost money as market took a nose-dive last year. It still isn't doin...
Forum, I am a US citizen, preparing to retire full-time to Europe. One of my concerns is exposure to currency exchange (US to Euro). Does anyone know if it possible to hold Euro denominated investment...
Hello-I’m over 50 so I am allowed to add an additional $7500 a year to the $22500 a year maximum 401k contribution. I am deducting the max 30k a year from my paycheck. Can I also open a Roth IRA...
Retirement planning is an essential part of personal finance that requires careful thought and consideration. One of the most popular retirement savings vehicles in the U.S. is the 401(k) plan, which ...
The government recently did a veto on a bill that would require investments in Retirement funds not be required to meet the Environment, Social, and Government requirements, rather than on profitabili...
I'm about to turn 61, and will work until 65 when I retire. Speaking in general terms, I have $500K in my 401K made up of my contributions, employer match, and decent growth over time. 80% of that is ...
I've read through some posts about people being afraid of spending their 401k and most responses assume you aren't depending in the 401k to be your main source of income. The only pension I have may b...
I was previously a teacher but now have my own LLC and on payroll with an s-corp. What financial institutions do you recommend for getting my own 401k? submitted by /u/Low-Zucchini6397[visit reddit] [...
Owning employer stock in your 401(k) can increase returns, but it multiplies your financial risk....
Does anyone know what the avg TOTAL return is for a 401k by retirement? Example to make things easy: If by 65 I’ve invested $20,000 of my money into my 401k but my portfolio is worth $100k, it w...
Hi, I'm nowhere near retirement but I've been investing in my 401k for quite a while now. I know if I have demanding concerns I'll speak with an actual financial advisor, but I'm curious if anyone kno...
I’m 60, SF, no kids and starting to seriously think about my next steps. I have a good job (85k) and benies and ~$500k in my 401k. Only have ~ $2k in savings and owe $5k on CC. Car will be pd in...
I’m just coming up on year one at my newish job. Decent pay (70k but a raise is in the works in the next two months that is negotiable). I’m currently 30M. Currently have about 15k in Roth...
submitted by /u/mmura09[visit reddit] [comments]...
Im hoping to get some clarity on deciding. The usual advice i see is if you think youll be in higher tax bracket in retirement then go roth, if same tax bracket it doesn't matter and if lower tax brac...
Okay, so this may seem like a silly question, but consider me completely uninformed regarding retirement and cash flow. I will provide a little bit of my situation for context. I am 52 and married. Th...
Hello I am a 28 year old business owner and have run a pretty successful business for the last 5 years. I have been so focused on growing and building the business that I never really thought about re...
I'm still working but on the verge of retirement. In an effort to eliminate monthly expenses, I'm eying my 401k, which is sitting at a 450k balance to pay off my first and only home loan. It has a sim...
Just started a new job at a great but small firm and they have no retirement plan. I have worked for 25 years and and have contributed to a 401k. I want to finish out the last 10-12 working years at t...
We always know when it is the beginning of the year, because we get so many questions about retirement accounts and everything related to them. This episode answers more of your questions about employ...
I just turned 34 I only have about 9k in my 401k and it’s aggressive investments (since I’m still somewhat youngish) right now I have 10 percent going into traditional (+ 6 percent match)a...