401k plans
Avoiding stealth taxes
The majority of American workers save for retirement in pre-tax savings vehicles such as 401(k) and IRAs, not understanding the potential costs later in their retirement. What are those costs? Stealth taxes can increase your income tax liability and reduce…
New Rules for Retirement Account–A Quick Refresher
The recently-passed $1.7 trillion spending bill includes a host of big-ticket items, but one of the more obscure segments of the legislation has a direct bearing on many folks’ retirement financing strategies. If you are the owner of a 40a(k),…
Are you limiting your retirement savings options?
Over 40 percent of U.S. workers participate in 401(k) retirement plans which is an excellent resource for building long-term wealth. However, it is not the only retirement savings vehicle. There are several options that can offer tax advantages and more…
The Downside of a 401k Account
During one’s working years, as wealth accumulation is taking place, the conventional wisdom says to take full advantage of 401k opportunities, especially to get the benefit of an employer match. Then there’s the ability to avoid taxation of current income.…
All about 401k plans
Maurie Backman discusses 401k plans in depth in this piece. Since Social Security replaces only about 40 percent of pre-retirement income, and traditional pensions have largely gone the way of the do-do bird, 401k plans have become a crucial pillar for…
Social Security just a piece of retirement. Learn about 401k plans here
Social Security income is an important monthly benefit to nearly 63 million people each month. But the program only replaces about 40 percent of pre-retirement income, and this varies depending on factors such as lifetime income, number of years in…
Retirement Savings: Improvement, but One Area Needs Work
Fidelity reports that there has been a positive swing in the rate of savings among American households, with the level of money going into defined contribution plans increasing about 12% since 2010. and with higher balances and fewer loans from…
A Plug for 401k Plans
With only about two-thirds of those eligible to participate in a 401k plan actually doing so, it’s no surprise that so many of those aging into retirement are behind the financial planning curve. This nasdaq.com article by The Motley Fool’s Katie…