Did you know that you may be able to withdraw up to 98% of the money in your 401(k) plan BEFORE you retire from your job? Some people need or want to do just that. If you are one of them, you should ask about your ability to make an in-service non-hardship withdrawal. An in-service […]
Creating a Budget for Retirement It only makes sense – yet many retirees live without one. The importance of budgeting. You won’t be able to withdraw an unlimited amount of money in retirement, so a retirement budget is a necessity. Some retirees forego one, only to regret it later. Run the numbers before you retire. […]
Is the conventional wisdom for everyone? Questioning traditional assumptions about retirement planning can be illuminating. Some retirement planners and economists argue that they need to be reexamined. Does most retirement planning focus on the future at the expense of the present? One noted economist makes that case. Laurence Kotlikoff, the former White House economic advisor […]
Retirement Planning With Health Care Expenses in Mind It is only wise to consider what Medicare won’t cover in the future. As you save for retirement, you also recognize the possibility of having to pay major health care costs in the future. Is there some way to plan for these expenses years in advance? Just […]
Why Do We Save So Little? What’s good for the economy isn’t necessarily good for our future. Our parents & grandparents saved much more than we do. Most people who have read up on the economy for any length of time have heard of the personal saving rate (PSAVERT), which the Commerce Department calculates […]
2014 IRA Deadlines Are Approaching Here is what you need to know for 2014. Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. *April 1 is the absolute deadline to take an initial IRA Required Mandatory Distribution (RMD). *April 15 is the deadline for […]
Making Your Money Work Harder Little things you could do that could help you leave work a little sooner. Little things matter. When planning for retirement, people naturally think about the big things – arranging sufficient income, amassing enough savings, investing so that you don’t outlive your money, managing forms of risk. All of this […]
Getting Married? After 27 years of independently maintaining her own finances, CPA Amber Gilstrap took the plunge. Well, yes, she got married, but she also combined finances with her new husband. Marriage is often the catalyst that prompts two people to mix their money, but even those who live together may reach a point where […]
Are you retiring soon? If you’re within ten years of retirement, it’s time to take a hard look at where you stand. A research report conducted by the National Institute on Retirement Security found that a startling 45 percent (38 million) of working-age people age 25-64 have no retirement assets. This includes 401k plans and […]
Many retirees find that their income streams are insufficient so they look for additional ways to earn more. With rock bottom interest rates, investors are seeking out high yielding investments. The federal funds rate is still next to nothing, and the classic conservative retirement investments like money market funds and CDs are failing to keep up with inflation.
So where do you turn for more yield, especially if you are close to or in retirement?