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Thinking of Raiding Your Retirement Plan Because of COVID-19? Here Are 3 Reasons You Shouldn’t.

May 4, 2020

Under the CARES Act, you can now withdraw up to $100,000 from your retirement plan penalty-free if you've been negatively affected by COVID-19. But here are three reasons it's unwise to go that route. CLICK ON THE HEADLINE FOR MORE

6 Warning Signs An Investment Is Too Good To Be True

October 22, 2018

Investment fraud isn't uncommon. And while it's not always easy to spot, there are some telltale warning signs that an investment is too good to be true. CLICK ON THE HEADLINE FOR SIX RED FLAGS TO KEEP AN EYE OUT FOR

This Wildly Popular Investment Has Two Costly Flaws

July 30, 2018

More popular than ever, target-date fund assets surpassed the $1 trillion mark last year. You could, however, jeopardize your retirement savings if you invest in them blindly. FOR WHAT YOU NEED TO KNOW, CLICK ON THE HEADLINE

Five Investments That Are Better Than Bitcoin

February 19, 2018

If you decide to invest in cryptocurrency, only use money you’re prepared to lose. And that’s true of any speculative investment, So before you buy, CLICK ON THE HEADLINE FOR SOME OTHER OPTIONS TO CONSIDER

Self-Made Millionaire Says The Best Money Advice He Ever Got Came From His Grandma At Age Seven

January 22, 2018

A millionaire's thinking like an investor began when his grandmother helped him buy his first stock. CLICK ON THE HEADLINE FOR MORE

The Very Best Apps for Saving Money Effortlessly

February 20, 2017

There’s now a small cottage industry of apps that essentially do the work of saving—and even investing—for you. CLICK ON THE HEADLINE FOR SOME FAVORITES

Recent Posts

What Does The SSI Savings Penalty Elimination Act Propose?September 30, 2024 - 9:24 pm
The goal of SSI is to support people with disabilities, but as it stands, the program traps many in poverty by penalizing saving and marriage. This is where the SSI Savings Penalty Elimination Act comes in. The bipartisan bill aims to fix the situation by increasing the asset limit for individuals and for married couples.
This Is The ‘Billion-Dollar Blind Spot’ Of 401(k)-To-IRA Rollovers, Vanguard FindsSeptember 23, 2024 - 10:46 pm
Rollovers from a workplace retirement plan to an IRA are common after reaching certain milestones like changing jobs or retiring. However, many investors who move their money to an IRA park those funds in cash for months or years instead of investing it — a move that causes their savings to “languish.”
4 Steps To Take With Investments If Fed Cuts Rates, According To Financial PlannersSeptember 16, 2024 - 10:34 pm
Investors tend to respond emotionally to significant market fluctuations, which can jeopardize long-term growth, particularly in retirement savings. With the Fed expected to cut interest rates to reduce inflation, financial planners weigh in what investors should do.
An Inherited IRA Can Boost Your Finances, But The New Finalized IRS Rules May Mean A Tax HeadacheSeptember 9, 2024 - 7:46 pm
According to new, finalized IRS rules, if you inherited a retirement account in the past several years, it’s likely you’ll have to take distributions and pay taxes on all that money within 10 years. Before the new rule, heirs could “stretch” IRA withdrawals over their lifetime, which reduced yearly taxes.
Six Ways A Bad Credit Score Might Derail Your Retirement PlansSeptember 2, 2024 - 5:23 pm
Preparing for a comfortable retirement goes far beyond contributing to a 401(k). You might encounter devastating surprises in retirement if you’re currently ignoring the personal finance metric of maintaing a good credit score.
There’s Still Time To Max Out 401(k) Contributions For 2024 — But Some Investors Shouldn’t, Experts SayAugust 26, 2024 - 6:43 pm
For 2024, employees can defer up to $23,000 into their 401(k) plans. Experts say, however, even if you can afford to max out your plan, there are three things to consider first.
New Inherited IRA Rules For Non-SpousesAugust 19, 2024 - 8:32 pm
As older generations are the biggest holders of retirement accounts, including the approximately $11.5 trillion held in IRAs today, a significant percentage of the assets is likely to be transferred through inheritance to non-spouse beneficiaries of all ages. Requirements for withdrawals from inherited IRA accounts can be complex so take time to understand the new rules, and consider consulting with a tax professional.
Average 401(k) Balance by Age In 2024: Benchmarking Your Retirement SavingsAugust 12, 2024 - 11:56 pm
A 401(k), 403(b), or other retirement plan is more than a savings account. Retirement savings plans are a wealth-building tool to ensure a comfortable, secure, and stress-free retirement. By understanding how age, income, and gender impact your retirement savings, you can make better-informed decisions that align with your demographic and investment goals.