If your employer offers a 401(k) or other retirement plan, contributing to that plan is a foundation of your retirement savings. However, as you approach retirement age, you might consider moving some of your retirement funds out of your employer’s plan and into an IRA at a custodian like TD Ameritrade or Fidelity.
Tag Archives | 401(k)
One of the big advantages of a traditional IRA or 401(k) is being able to save pre-tax dollars and let them grow tax deferred until you need them. Hopefully, when you take the distributions in retirement, you will be in a lower tax bracket than when you made the contribution. The downside is that traditional […]
If it weren’t already hard enough to understand whose side your financial advisor is on, it got more complicated on June 9, 2017. As of that date, all financial advisors who sell products are required to forego any sales agenda and give advice that would benefit their clients or customers (called “fiduciary advice”). Does this […]
For many young adults, the 30’s are the decade when real adulthood takes over. It’s the decade of family. It’s typical at this stage to be parenting young children, getting well-established in careers, and managing responsibilities like buying a home. With a mortgage, daycare, possibly student loan payments, and the boatload of other obligations that […]
Research shows that most investors and investment advisors woefully underperform the markets. How woeful is woeful? Over the past 30 years, it meant leaving an average of $7,100 per year on the table for every $100,000 invested. For a 401(k) that grows to $1 million at retirement age, this means $71,000 less in retirement income […]