What are the Benefits of 401(k) Plans?

401(k) plans are powerful tools for retirement planning. But they’re not perfect – the benefits of 401(k)s have come into question even to the point where some people suggest avoiding them altogether. Before giving up on the 401(k), it’s important to understand the benefits that a 401(k) plan offers. You might ultimately decide that it’s […]

Be Careful When Cashing Out a Retirement Account to Pay off Debt

It’s tempting to dip into retirement savings when you’ve got a large debt to pay off. That retirement money is sitting there in one large chunk, and you know that it’s supposed to be used for many years’ worth of retirement income, but it’s also painful to let debts linger.  The monthly payments might be […]

Borrow Against IRA – How do I Borrow Against my IRA?

When you need to get a loan, sometimes you need collateral. People often ask, “can I borrow against my IRA?” Unfortunately you can not borrow against IRA accounts. However, lenders often ask what your IRA account balance is. Why do they care if you can’t borrow against an IRA? In most cases, the lender wants […]