For anyone approaching retirement, one of the most important considerations is financial security. Although there's a lot to look forward to in retirement, it's natural to think about how you'll spend your time, what you'll pass on to your heirs, and if your money will even outlast you. With an average retirement of 28 years1, it's easy to see how many retirees run out of money. But this article isn't...
What does 401K stand for? How much can you contribute to a 401K per year? When can 401K savings be withdrawn? Is a 401K taxable? A 401K plan is sponsored by an employer as a retirement savings plan for an employee. It's a defined-contribution plan, meaning that the balance in the employee's acount depends on contributions made to the plan and the performance of plan investments. The employer is usually not...
Every parent wants the best for their children, and depending on their ambitions and goals, their future may include college enrollment. With the rising costs of college putting more and more people in debt, the time to start saving for college is long before they step foot on campus. A qualified tuition plan, or 529 plan, could be an excellent way to help them prepare for college, even before they learn...
The most common types of IRAs—traditional, Roth, SEP, and SIMPLE—provide various kinds of benefits, but the Roth IRA is probably the favored among financial professionals. Established as part of the Taxpayer Relief Act of 1997, the Roth IRA gets its name from Former Representative and Senator William V. Roth of Delaware.
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Few things in life can trump the satisfaction of entering into a well-planned retirement. Yet despite years of planning, many people still run out of money. Here are a few tips to help you enjoy your retirement.
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