Submitted by Jim Blankenship on Fri, 08/15/2014 - 12:00pm
Beginning in 2013, you could roll over all your standard 401(k) funds to a Roth account in the same retirement plan. But such a move may not be good for you. While the upside of a Roth is tax-free money in the future, converting creates an extra tax burden today.
Submitted by Dan Crimmins on Fri, 08/15/2014 - 9:00am
Coming of age and entering the workforce in the wake of a financial crisis, our younger generation became skeptical about investing. But the fact is, millennials need to invest as the stock market is one of the best ways to grow wealth long term.
Submitted by Jeff Rose on Thu, 08/14/2014 - 3:00pm
Retiring before age 65 remains the dream of many Americans. Our first article looked at your personal obstacles to early retirement, such as how you save. Here are more potential roadblocks to starting your golden years ahead of time.
Submitted by Liz Niehaus on Wed, 08/13/2014 - 3:00pm
Early summer’s cap and gown now hang in the closet and you just hope your suddenly grown child is ready for real-world financial challenges, from debt to saving for a remote retirement. Now more than ever, you can teach your kid many key money lessons.
Submitted by Eve Kaplan on Wed, 08/13/2014 - 12:00pm
Today’s retirement may look nothing like your parents’ or grandparents’. People live longer, benefits grow thinner, and health-care costs rise. Review your financial situation and start planning early so that this new retirement doesn’t catch you unprepared.
Submitted by Maureen Crimmins on Tue, 08/12/2014 - 3:00pm
Your financial future starts at home, especially when you begin filling that home with children. Establishing limits is part of parenthood and your skill at teaching this lesson directly impacts your quality of life in retirement.
I remember going to the grocery store when my children were little. I put them in the cart and hurried through the store to get all I needed as quickly as possible. If your store experience resembles mine, inevitably as you wait on the checkout line, the candy display comes into the focus of your chocolate-loving toddler.
Submitted by Larry Frank Sr. on Fri, 08/08/2014 - 12:00pm
Saving for retirement is one thing, spending those savings wisely another. One school of thought says you must withdraw consistently from your savings to simply avoid exhausting cash before you die. Another believes in adjusting withdrawals depending on changes in your later years. Which is right for you?
Submitted by Barry Glassman on Wed, 08/06/2014 - 3:00pm
When you put earned income into a tax-deferred account such as an individual retirement account or a 401(k), Uncle Sam eventually wants those taxes. The Internal Revenue Service requires you to take required minimum distribution (RMD) withdrawals. You must know when and how much to take, though, or you face hefty penalties.
Here are the top five mistakes people make with RMDs and how to avoid them:
Submitted by Maureen Crimmins on Mon, 08/04/2014 - 12:00pm
Retirement is a major life change. Financially, you have it all planned out. But did you take the time to prepare yourself psychologically for this transition?
Most major life-changing events involve an ongoing process of emotional adjustment, and retirement is no exception. You have all the free time with no schedule or commitment. This transition may be more difficult than you think as you were disciplined with a routine for most of your life. Too much freedom may not be a good thing.