Top

4 Ways To Plan A Smart Retirement

Retirement is a matter of concern for almost anybody across the world. Once the inflow of income stops, the reserve funds always seem to run out faster than expected. And soon, people face a terrible financial situation where they are forced to compromise on a lifestyle that they have become accustomed to their whole lives.

Never Withdraw From Your IRA

Never withdraw from your IRA. There are a lot of good reasons not to do so, including penalties if you’re under 59 1/2 years old. There are also times when the expression “rules are made to be broken” applies. Why shouldn’t you withdraw? What are the advantages and disadvantages? And when should you disregard the advice to never withdraw from your IRA?

Penalties and Taxes on Withdrawing From Your IRA Early Accessing the income you’ve set aside for the future might seem Continue article...

Making Sense of Retirement Mumbo Jumbo for Those Just Starting Out

Working twenty-something professionals should count their blessings at a time when their age bracket is faced with a record unemployment rate. The concept of American retirement has completely changed in the wake of the global financial crisis, and it’s easy to see why many young workers are willingly keeping their minds off of retirement planning. They feel lucky enough to be employed and don’t want to squander precious income and resources on something they perceive as a waste. But it’s Continue article...

Baby-Boomer Generation Must Get Serious About Planning for Retirement

One maxim of life is that it is never too early or too late to start saving for retirement. However, our “Baby-Boomer” generation, the ones that were born in the two decades that followed World War II, have been preparing for retirement, but have, unfortunately, undergone two severe business-cycle reversals in the past ten years alone. Stock portfolios have taken a beating, and home equity values have plummeted, especially if a recent refinancing was used to pay down Continue article...

Your Retirement is not Enough: What to Do When You’re Broke

Recessions come and go and inflation is here to stay. In your 40’s, economic ups and downs don’t affect you because you know that with about 20 years left before retirement, you’ll have plenty of earning opportunities. You change jobs, get promoted, and earn bonuses for outstanding performance. Your savings are modest but you know that they will grow, providing you with a comfortable nest egg.

But life is full of detours. What happens when you reach Continue article...

Understanding Fixed Annuities

In its most basic definition, an annuity is the contract that is created between a consumer and a life insurance company when the individual pays one premium that will be disbursed to the consumer over a fixed period of time. A fixed annuity is similar to a bank CD in its mode of operation, and its rates are often competitive with those of such CDs. However, it should be noted that fixed annuities often do not guarantee a specific rate Continue article...

Annuities Explained

Annuities are contracts between individual buyers and insurance companies or mutual fund companies. The concept is straightforward and easily understood. The annuity buyer pays the company a sum of money and the company agrees to pay it back often at a later time.

This can provide a significant benefit for the purchaser by allowing him to defer income from his peak earning years to a later date when he is retired and earning less. It also can reduce Continue article...

What is the Right Amount to Save for Retirement?

There are plenty of calculators out there so I won’t bother with that, but the question to how much you need to save for retirement needs to be in your thought process. Saving for retirement is difficult when it matters most. Many people reading this are in there 20’s, 30’s and 40’s. The earlier you start to save the more you benefit from compounding interest. If you start saving around five thousand dollars a year and put it into an Continue article...

Taking an IRA Distribution

The rules for taking an IRA distribution from an individually owned IRA depend upon the type of account. There are two types of individually owned IRAs – traditional and Roth. The treatment of traditional and Roth IRAs differs significantly. For both types of accounts, distribution is governed by the age of the participant as well as the reason for the distribution.

If you have a traditional IRA, your contributions might be tax deductible but your distribution may be taxable. To avoid Continue article...

Spousal IRA

Stay-at-Home Moms Can Have Retirement Benefits With A Spousal IRA

Married couples usually have individual careers of their own before they get married. When they were newly-weds, both of them were enjoying their personal incomes and sharing in the expenses at home, such as groceries, bills, fuel and mortgage loans. However, when the first child comes, some couples must sit down and talk about one of them giving up work to stay with their child and take care of Continue article...

Next Page »

Bottom