New research from TD Ameritrade finds that many individuals are confused when it comes to Roth IRAs — accounts that are funded with post-tax money. Consequently, many people are leaving cash on the table, when it comes to maximizing this savings strategy. CNBC’s recent article entitled “Not knowing these Roth…
“A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.” The SECURE Act is the most substantial change to our retirement savings system in over a decade, says Covering Katy (TX) News’ recent article entitled “Laws Change for IRA and 401K Retirement Savings Plans.” The…
Those who happily enjoy senior discounts at national parks, fast food restaurants and movie theaters will tell you that turning 59 ½ is no big deal. Chances are at 59 ½, you’re still enjoying good health, working productively and wise enough to know you’re a bit smarter than you were…
After years of enjoying the deductions for putting money into retirement accounts, it’s always an unpleasant stunner when people realize they have to pay taxes on their withdrawals. Or do they? Converting a 401(k) to a Roth IRA or Roth 401(k) will eliminate the need to pay taxes on withdrawals,…
Nearly half of American households older than 55 have no retirement savings. The U.S. Government Accountability Office says that this number is actually better than in the past. According to the article from CNBC, “These people are on the verge of retiring—and they have nothing saved,” an analysis of the…
There is no such thing as a free lunch, except when it comes to employers who match their employee’s 401(k) contributions. This is the closest to free money you’ll ever get. If you’re fortunate enough to work for a company that has a matching plan, congratulations–not everyone does! A matching…
Most people who work for a living dream of retirement. However, for many workers, the idea of retirement comes with its own worries. Will there be enough money? Will I be healthy enough to enjoy it? Money and health are the two biggest worries about retirement. There are other unknowns:…
The big picture presented by the National Institute on Retirement Security is not a good one. Working Americans are completely unprepared for retirement. The National Institute on Retirement Security is a non-profit research and educational organization that focuses on the development of public policies that help retirement security in America.…
Without the security of a spouse’s income, single parents must balance their children’s needs with their own retirement savings goals. Single parents who have to say no to their children over and over again, struggle with wanting to say yes when money is tight and there’s no room in the…
You’d think no one would want to turn down free money. Yet that’s exactly what many working Americans do! One out of five Americans—20%—don’t take advantage of a terrific benefit: employee sponsored retirement savings accounts that include an employer match of some and sometimes all the employee’s contributions. Most workers…