Retirement savings: Planning for the future
Most people, especially the young professionals, don’t really take time and effort to save up for the future. They live each day spending as much as they can, not realizing that they simply can’t do that for the rest of their lives. Others only start planning for their future 10 to 15 years before they retire. While this is still a good time to save up for your retirement, it is always better if you could start earlier. But some Continue article...
Living Off Your Investments
When you’re in the middle of a project, it’s sometimes hard to imagine the final result. But, that stash of cash in your 401(k) will someday be your income, and you’ll be taking money out of it rather than putting money in it.
The strategies for investing while you’re taking withdrawals are significantly different from the strategies for investing while you’re still saving. Funds that guard against big losses in a bear market, for instance, might be better Continue article...
Can I rollover my 401k while still employed?
In recent conversations, the question has come up as to whether you call rollover your 401k to a traditional IRA while still employed at the sponsoring employer. There seems to be some confusion about this and rumors of new laws that allow it.
The short answer to the question is, no. By law, you can not withdraw 401k contributions, that is, pre-tax salary deferrals, before severance, plan termination, turning 59 1/2, death, disability or hardship (and you can’t roll Continue article...
Affluent Baby Boomers Ready To Retire With No Retirement Plan
Almost half of affluent baby boomers have never discussed their needs for retirement with a financial advisor. The estimated 10.5 million baby boomers moving towards retirement comprise 45 percent of all affluent households.
The Top Faulty Retirement Assumptions
Many people who’ve never done any formal financial planning believe they’ve taken the right steps to put them on a steady path to retirement. But when that time comes, they are often shocked to learn the lifestyle of tennis and travel they envisioned will have to be drastically scaled back.
The following are faulty assumptions many people make that undermine retirement plans and prevent them from retiring when they want with the lifestyle they want.
Top Myths of Social Security
Social Security is a real problem and we need to fix it and that involves pain” says Jeffrey Brown. Brown, an assistant professor of finance at the University of Illinois College of Commerce and Business Administration, says Republicans and Democrats are both guilty of exaggeration when debating Social Security reform and American citizens are and will pay the price for the myth building.
