Accounts
Showing 50 results of 52
What You Should Know About Spousal IRAs
Nov 19 2024
Without spousal IRAs, you would need an earned income to contribute to your retirement account....
kiplinger.com
New 401(k) Contribution Limits for 2025
Nov 08 2024
Savers using employer-sponsored retirement accounts can boost savings and have more opportunity for compounding....
money.usnews.com
Skeptical on Social Security, younger workers shift to personal retirement accounts
Oct 10 2024
According to a recent Cerulli study, more than half of retired 401(k) participants say Social Security is their primary source of income. At the same time, only 6% of millennials predict they will rel...
financial-planning.com
Retirement Accounts: Please Avoid These Actions!
Oct 05 2024
Planning for retirement is crucial to financial stability, but many individuals unknowingly jeopardize their future by making poor decisions regarding their retirement accounts. Understanding the comp...
baby-boomer-retirement.com
$1 Million for Retirement — Or a Longer Life?
Oct 04 2024
A new study shows that 51% of Americans prefer adding $1 million to their retirement accounts over adding five healthy years to their lives. Many Americans believe they need a six-figure income to ret...
kiplinger.com
Should We Always Pull From our Brokerage Account First in Retirement? (Hint: No)
Oct 01 2024
Patrick and Mary will soon both be retired. They are curious about what their withdrawal strategy should be as they balance various retirement accounts, including a pension, IRAs, and a brokerage acco...
buzzsprout.com
Want to Move to Italy? What to Consider Financially
Sep 13 2024
Once you've decided that you and Italy are compatible, you'll want to work out your tax planning, investments, retirement accounts and benefits....
kiplinger.com
Retirement Accounts on Continued Upswing in Q2: Fidelity
Aug 30 2024
401(k), 403(b), and IRA accounts have all experienced consistent growth throughout 2024,…...
401kspecialistmag.com
Retirement Accounts and Asset Protection
Aug 25 2024
Answering reader questions about 401(ks) and if you should have more than one, what to do with a crummy retirement account, and if you should be worried that your 403(b) is referred to as an annuity. ...
whitecoatinvestor.com
Need to be careful not to jump the gun
Aug 24 2024
...or maybe I don't. I got to "the number" in my retirement account, and I'll get a small pension (about $800/month), and social security. I'll be 60 in a couple of months. I'm also not happy with my ...
reddit.com
8 years left, I'm tired of working
Aug 08 2024
I worked long and hard to make it to my role now where I make $130k per year. I am 59. I'm saving 45% of income and have $225k in retirement accounts. My plan on paper is to quit working at age 67. Hu...
reddit.com
Should You Draw $1K From Your Retirement Account?
Aug 05 2024
You can tap $1,000 from retirement accounts with no penalty, but is it a good move?...
money.usnews.com
Employees Amplify Concerns Over Financial Emergency Impacts
Jul 18 2024
A quarter of participants surveyed are also borrowing from their retirement accounts, finds…...
401kspecialistmag.com
6 Ways to Boost Your 401(k) Halfway Through the Year
Jun 03 2024
Now that we’re halfway through the year, are you looking for ways to boost your 401(k) savings? Many Americans are struggling to save like they used to, and their retirement accounts are taking ...
401kmaneuver.com
Ask a Financial Pro: What Happens to My Retirement Accounts If I Declare Bankruptcy?
Jun 02 2024
In most cases, your retirement accounts are safe if you file for bankruptcy....
money.usnews.com
Don’t Roll Over RMDs To Other Retirement Accounts
May 22 2024
Some retirees make an expensive mistake by trying to roll over their required minimum distributions to Roth IRAs....
forbes.com
DOL Final Fiduciary Rule Released, Set to Become Effective in September
May 13 2024
Trading in retirement accounts saw a slight increase after achieving additional "above…...
401kspecialistmag.com
401(k) Trading Sees Modest Uptick in April
May 13 2024
Trading in retirement accounts saw a slight increase after achieving additional "above…...
401kspecialistmag.com
HSA: The Ultimate Retirement Account
Apr 26 2024
Think you know everything about retirement accounts? TheMadFientist reveals why the ultimate retirement account isn’t one you’d expect. In this ... Read more...
physicianonfire.com
$100-200k in Cash during retirement for “Just in Case” money
Apr 15 2024
I’m thinking about having a Cash account that is outside of my Retirement accounts. This would be for whatever or nothing. Not an Emergency fund. We’ll have that. I would fund Monthly expe...
reddit.com
Traditional Retirement Accounts or Roth? How to Choose
Apr 11 2024
Let’s compare traditional IRAs, traditional 401(k)s, Roth IRAs and Roth 401(k)s. Which might work best for you could depend on your income and tax status....
kiplinger.com
How to Pay Less Tax on Retirement Account Withdrawals
Mar 21 2024
Avoid penalties and minimize taxes when you pull money out of your 401(k) or IRA....
money.usnews.com
Does keeping a cash emergency fund still make sense after retirement?
Mar 16 2024
I've been keeping an emergency fund in a no penalty CD. Does it still make sense to have it once your income stops and withdrawing from retirement accounts starts? If there's any emergency other than ...
reddit.com
Which Retirement Account Should You Tap First?
Nov 27 2023
Photo credit: jb If you have multiple options of various different kinds of accounts to choose from, such as an IRA, a Roth IRA, a qualified retirement plan (such as a 401(k) plan) also known as a QRP...
financialducksinarow.com
Should You Roll Over Your Retirement Account to an IRA? Ep #200
Nov 27 2023
When it comes to the question of rolling over a 401K or 403B to an IRA, many people fear making mistakes. It’s true, that retirement account mistakes can be costly. On this episode, we’ll ...
financialsymmetry.com
401(k) Balances (and Millionaires) Dip Slightly in Q3: Fidelity
Nov 22 2023
Recordkeeper’s new report out today reveals retirement account balances down for the…...
401kspecialistmag.com
Interesting data from the Federal Reserve - Survey of Consumer Finances
Nov 16 2023
Here is the link to the US Federal Reserve's survey on consumer finance (1989-2022). Interesting data, give it a spin to see what the surveyed families have for their net worth, retirement accounts, e...
reddit.com
Should I Consolidate My Accounts in Retirement?
Nov 15 2023
If you have different retirement accounts at various brokerage firms, you may wonder whether you should consolidate them. One listener asked me that very question today. I’ll answer it along wit...
rogerwhitney.libsyn.com
How Each Type Of Investment Account Is Taxed
Nov 14 2023
The prior week we introduced some basic tax concepts that everyone should know. This week, we are going to continue to build on that foundation by discussing the different types of retirement accounts...
thomaskopelman.com
IRS Announces New 2024 401(k) Contribution Limits
Nov 08 2023
Good news for those looking to maximize their contributions to retirement accounts, IRS has announced higher contribution limits for 401(k) and Cash Balance Plans....
forbes.com
Why the HSA Is My Least Favorite Retirement Account
Nov 06 2023
You may have heard that the Health Savings Account (HSA) is the ultimate retirement account because it’s triple tax-free. Contributions go in tax-free. The balance grows tax-free. Withdrawals ar...
thefinancebuff.com
IRS offers 'Secure' relief to 10-year rule beneficiaries
Oct 25 2023
Beneficiaries and retirement account owners born in 1951 in particular may be in luck....
financial-planning.com
Navigating Pre-Tax vs Roth Retirement Accounts: A Guide to Smart Financial Planning
Oct 24 2023
If you're in a high tax bracket now and expect to remain in a high tax bracket after retirement, should you prioritize pre-tax retirement accounts or Roth retirement accounts for individuals? James an...
buzzsprout.com
Using Retirement Accounts
Mar 16 2023
Today, we are answering your questions about retirement accounts. This is a topic that comes up a lot from readers and listeners, and that is because it can be complicated. Especially when the rules k...
whitecoatinvestor.com
I just started a mission square retirement account at work that my employer contributes to I see two different accounts when I login, one labeled RHS & one labeled 457B I am brand new to this so
Mar 13 2023
submitted by /u/VicWoodhull[visit reddit] [comments]...
reddit.com
Why You Should Use Retirement Accounts Even If You Are Going To Retire Early – The Long Game | A Blog By Thomas Kopelman
Mar 08 2023
Retiring early is one of the most common goals I see from our generation. It's an awesome idea to want to be work optional at an early age, but it also...
thomaskopelman.com
Lost retirement accounts are a growing problem. How to track down yours
Feb 26 2023
Lost retirement accounts are a common issue as people change jobs but leave accounts with former employers. Here are some tips for finding the money....
latimes.com
Rate my retirement.
Feb 19 2023
Just a working stiff here. Saving about $40,000/ year in retirement accounts. Self employed so using a SimpleIRA. Another xtra $13000/ year in a taxable Brokerage acct.,and $7500/ HSA Have 1million sa...
reddit.com
Are retirement accounts considered passive income?
Feb 16 2023
I'm looking to retire in the Mediterranean in the next 30 years. But, upon researching, I'm seeing that one would need to have passive income to be able to afford up to $25k - $30k annually if they in...
reddit.com
Retirement Tools
Feb 07 2023
What is a retirement tool I should be using to help plan for the future? I am 28yo and would like a tool that takes into account my income, retirement accounts, owned properties etc. Maybe something t...
reddit.com
What to do with 401k
Jan 26 2023
I’m retiring later this year and have a company 401k of $350k. I contacted the company asking about withdrawing after I retire. They told me I would have to choose how long I want to withdraw an...
reddit.com
Should I fund my tax-deferred retirement account with brokerage account sales?
Jan 24 2023
Hi, This year, i want to fund my tax-deferred retirement accounts IRA, 401k, HSA with my brokerage account sales? My taxable income being in the 0% capital gain bracket (thanks to the retirement contr...
reddit.com
Biggest Changes To Retirement Accounts Due To New 401(k) And IRA Rules | Bankrate
Jan 24 2023
The SECURE Act 2.0 became law in the last days of 2022, and the act provides new assistance for retirement savers, small businesses and many others....
bankrate.com
Retirement accounts
Jan 21 2023
I am not knowledgeable with retirement accounts. I need some assistance. I have 2 prior retirement accounts one with the federal government which I worked for about 4 years and another retirement, 401...
reddit.com
IRS: Types of Retirement Accounts
Jan 07 2023
Review retirement plans, including 401(k) Plans, the Savings Incentive Match Plans for Employees (SIMPLE IRA Plans) and Simple Employee Pension Plans (SEP)...
irs.gov
Avoiding individual retirement account early-withdrawal tax penalties
Dec 28 2022
Secure 2.0 is poised to be signed into law. It adds new exceptions to the 10% early withdrawal penalty for individual retirement accounts and 401(k) plans....
cnbc.com
Choosing the Best Retirement Plan for You
Dec 16 2022
With so many types of retirement plans out there, finding the right one for you might be confusing. Use our guide to understand which retirement plan is best for you....
fool.com
What’s the best way to take RMDs from your retirement accounts?
Dec 13 2022
I’m a retired educator, and I’m just turning 72. I’m about to start taking my required minimum distributions. I don’t need the full amount, but I guess I have to take it anyway. I don’t know...
marketwatch.com
401(k) Contribution Limits for 2023 | Personal Capital
Nov 01 2022
Get the details on 401k contribution limits for 2023 in order to determine how much you want to stow away in your employer-sponsored retirement account....
personalcapital.com
Required Minimum Distribution Rules | Sensible Money
Jun 24 2022
The IRS requires you to take withdrawals from retirement accounts once you reach age 72. Here's how it works....
sensiblemoney.com
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About Accounts
There are several types of retirement accounts that you can use to save for retirement, each with its own set of rules and tax benefits. Some common types of retirement accounts include:
401(k) plan: This is a retirement savings plan sponsored by an employer. Employees can contribute a portion of their salary to the plan, and employers may also make contributions on behalf of employees. Contributions to a 401(k) plan may be tax-deferred, which means that you do not have to pay income tax on the money you contribute until you withdraw it in retirement.
Traditional Individual Retirement Account (IRA): This is a personal savings plan that allows you to set aside money for retirement on a tax-deferred basis. You can contribute to a traditional IRA if you have earned income, and you may be able to claim a tax deduction for your contributions, depending on your income and whether you are covered by a retirement plan at work.
Roth IRA: This is similar to a traditional IRA, but contributions are made with after-tax dollars and qualified withdrawals are tax-free. This means that you do not receive a tax deduction for your contributions, but you do not have to pay taxes on the money you withdraw in retirement.
Self-Employed Retirement Plans: If you are self-employed, you may be able to set up a retirement plan such as a Solo 401(k) or a SEP IRA. These plans allow you to contribute both as an employee and an employer and offer similar tax benefits to traditional employer-sponsored 401(k) plans.
It's important to carefully consider the rules and tax implications of each type of retirement account to determine which one is best suited to your needs. You may also want to consider consulting with a financial professional to help you plan for retirement.