Retirement

In the days of yesteryear, companies used to offer their employees pensions. A pension is essentially a guaranteed income after retirement. Most companies today have let go of their pension programs in favor of a 401(k). These are tax-advantaged accounts that allow individuals to have more control over their retirement savings. A 401(k) is one…

Many workers lament the days where you could give 30 or 40 years of service to a company, and then receive a pension that would take care of your needs the rest of your life.  They were great plans for the worker, but they were running out of money. People are living much longer lives…

If you’re like most Americans, you’re facing a struggle figuring out how to save enough for retirement. In fact, according to a survey from Go Banking Rates, 42 percent of Americans will retire “broke” or with $10,000 or less saved for retirement. The reasons range from paying down debt to living paycheck to paycheck. But…

Your 401k is one of the best tools you have when it comes to saving for retirement. And like every financial tool, it’s most powerful when you know how to use it. Whether you’re thinking about opening a 401k for the first time or getting ready to make your first withdrawals, this guide will give…

By now you have probably already weighed the tax benefits of traditional and Roth IRA retirement accounts and decided what is best for your retirement needs. You already know that in a Roth IRA you make contributions after your income has been fully taxed. However, when you withdraw from your retirement nest egg, no tax…

When planning for retirement, nothing is more exciting than plugging in your annual savings, choosing an expected rate of return, and then seeing the massive dollar amount you can expect as your nest egg matures. But is what you see really what you get? Unfortunately, as inflation again rears its ugly head, the answer is…