Although it might seem like a chore, reviewing your 401(k) from time to time doesn’t have to be painful. The best way to save for retirement is to let things run on autopilot, but you can’t completely set-it-and-forget-it. A periodic review will help ensure that you’re on track, and you can review the most important […]
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Preparing for Retirement? Be Flexible
This may or may not make you feel better, but you’re dealing with a moving target when you prepare for retirement. It would be easier if you could know with certainty how things are going to go down, but the fact is that you can’t. Knowing that, you can build some flexibility into your plans, […]
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Roth, Traditional, and Your Social Security
As you save for retirement you can choose between Roth and Traditional accounts. You’ve probably already decided what’s best based on your future tax rates, but did you look at how your choice affects your Social Security income? Assuming you get anything, your Social Security benefits might be taxable, depending in part on whether you […]
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Save for College or Retirement? Keep Your Options Open
Saving for retirement is difficult. So is funding a child’s education. If you’re trying to do both, you’ve got your work cut out for you. So how can you approach this challenge? The best way to do it is to save what you can while keeping your options open. It would be great if you […]
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Investing Doesn’t Have to be Complicated
You’re on your own more than ever when it comes to retirement, and that means you have to manage your money wisely. But investing is a challenge, especially if you don’t have the time or desire to figure out all of the complexities. The good news? Investing doesn’t necessarily have to be complicated, and you […]
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IRA or 401(k) – What’s the Difference Anyway?
You have to make a lot of decisions as you plan for retirement. Among those decisions is the choice to use an IRA or 401(k) to save money. Which one should you use, and what’s the difference between them anyway? Can you even do both? Let’s figure that out. IRA versus 401(k) If you like […]
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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 […]
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What Is a Fixed Annuity?
Fixed annuities are conservative investments. They are typically used for retirement planning, and they might also be used strictly for their tax benefits. You can use them to accumulate money, or to take income from your assets once you retire. They are very appealing to people who don’t want to lose money in the markets, […]
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Lifetime Annuities – What You Need to Know
With a lifetime annuity, you receive payments from an insurance company for the rest of your life. These programs are increasingly popular for retirement planning, and there are even proposals before Congress that would require employers to provide lifetime annuities to retiring workers. Let’s review how they work along with the pros and cons. The […]
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What is the Retirement Age?
As you start to imagine your life without a day job, you may wonder what the retirement age is. The truth is that you can retire whenever you feel like it – the question is whether or not you can afford to retire at a particular age, given the resources available to you at that […]