Retirement

401(k) Contribution Limits for 2023 and 2024: Maximize Workplace Retirement Savings See the 401(k) contribution limits for 2023 and 2024 so that you can plan and maximize tax-advantaged, workplace retirement savings. Roth IRA Contribution Limits for 2023 and 2024: How to Maximize Tax-Free Growth Photo of Lance Cothern Lance Cothern Roth IRA Contribution Limits for 2023 and 2024: How to Maximize Tax-Free Growth Retiring is a goal many people dream of. In order to retire, people need to find a... Solo 401(k) vs. SEP IRA: How Do You Choose if You're Self-Employed or a Small Business Owner? Photo of Lance Cothern Lance Cothern Solo 401(k) vs. SEP IRA: How Do You Choose if You're Self-Employed or a Small Business Owner? As a self-employed individual, you don’t have access to a workplace benefits package... Roth IRA Withdrawal Rules: How to Avoid Penalties Learn about the withdrawal rules that apply to Roth IRAs so that you can withdraw your retirement savings without incurring any penalties (or taxes). Traditional IRA Withdrawal Rules: When Penalties Do and Don't Apply Learn about the rules that apply to traditional IRA withdrawals and how you can avoid penalties on early access to your money. SIMPLE 401(k): Retirement Savings for Business Owners and the Self-Employed Photo of Lance Cothern Lance Cothern SIMPLE 401(k): Retirement Savings for Business Owners and the Self-Employed If you’re a small business owner, chances are you’ve looked into offering some... The Roth IRA 5-Year Rule: Ensure that Your Withdrawals Are Tax-Free Photo of Lance Cothern Lance Cothern The Roth IRA 5-Year Rule: Ensure that Your Withdrawals Are Tax-Free Saving for retirement helps you make sure your future self can live a comfortable... Custodial IRA: How to Open a Retirement Account for Kids Find out how a custodial IRA can allow parents and guardians to help their children save and invest for retirement. 403(b) vs. Roth IRA: Which is Better for Your Retirement Savings? Compare a 403(b) plan to a Roth IRA -- both of which are popular accounts for retirement savings. Learn to choose the best option for you. Mega Backdoor Roth IRA: How It Works Step by Step Photo of Lance Cothern Lance Cothern Mega Backdoor Roth IRA: How It Works Step by Step Most people invest for retirement in an IRA or 401(k) rather than a savings... How to Roll a 401(k) Into an IRA Photo of Thomas (TJ) Porter Thomas (TJ) Porter How to Roll a 401(k) Into an IRA When you leave your job, you may wonder what you should do with your old... Immediate vs. Deferred Annuity Payout Options Compared Compare the pros and cons of immediate and deferred annuity payout options and how you choose between them when it comes to your retirement income. Indexed Annuities: Comparing the Pros and Cons Learn how indexed annuities work to provide retirement income that is based on the performance of stock market indices, including the pros and cons to consider. Variable Annuities: How Do They Work? Photo of Lance Cothern Lance Cothern Variable Annuities: How Do They Work? You might have seen advertisements or received mailers about variable annuities. But... Fixed Annuities: How Do They Work? Photo of Lance Cothern Lance Cothern Fixed Annuities: How Do They Work? People looking for a stable source of income often find themselves looking into... Pension Advance Loans: Why You Should Avoid Them Find out how pension advance loans work and why you should avoid them in favor of other alternatives for additional funds or cash flow. 401(k) vs. 403(b) vs. 457 Plans: Compare Employer-Sponsored Retirement Plans Learn the differences between 401(k), 403(b), and 457 plans -- along with their pros and cons -- to help you compare these employer-sponsored retirement plans. Raised 401(k) Distribution and Loan Limits Amid Coronavirus Photo of Lance Cothern Lance Cothern Raised 401(k) Distribution and Loan Limits Amid Coronavirus Many people may have money they’re typically not allowed to touch until... Profit-Sharing Plans: How Do They Work? Photo of Kathryn Tretina Kathryn Tretina Profit-Sharing Plans: How Do They Work? If you’re employed by a small business, you may be able to benefit from... Where to Put Extra Savings After You've Maxed Out Your 401(k) Find out where you should put extra savings after you've maxed out annual contributions to a 401(k) plan and want to set aside more money for retirement. Should You Contribute to an IRA When You’re Already Retired? Find out whether you should still contribute to an IRA when you‘re already retired but have “earned income.” Compare the pros and cons of this money move. 5 Ways to Get Tax-Free Income in Retirement Photo of Lance Cothern Lance Cothern 5 Ways to Get Tax-Free Income in Retirement When you’re planning for retirement, there can be a lot of uncertainty. You... Compare Reverse Mortgage vs. Home Equity Loans & HELOCs for Retirement Income Photo of Lance Cothern Lance Cothern Compare Reverse Mortgage vs. Home Equity Loans & HELOCs for Retirement Income When you’ve already retired and you need income, one potential source of income... Should You Max Out Your 401(k) Early in the Year? Find out about the pros and cons of maxing out your 401(k) contributions and hitting the annual limit earlier in the year. 5 Ways to Use Your Home Equity to Fund Retirement Learn how you can turn home equity into retirement income with these different methods to use a home as a funding source. Can U.S. Expats (Americans Abroad) Contribute to IRAs or 401(k)s? Photo of Lance Cothern Lance Cothern Can U.S. Expats (Americans Abroad) Contribute to IRAs or 401(k)s? As a U.S. citizen, you pay federal income taxes on your worldwide income... Multiple IRAs: Why You Might Consider Diversifying Tax Benefits Photo of Lance Cothern Lance Cothern Multiple IRAs: Why You Might Consider Diversifying Tax Benefits As you move along your retirement-saving journey, you may find yourself having... 702(j) Retirement Plans: Same as Life Insurance? Learn about 702(j) retirement plans and how they work -- especially if they function similar as life insurance as opposed to nest egg savings. Inheriting a 401(k): How to Manage the Assets Learn how to handle the inheritance of a 401(k) plan as the options may vary from case to case based on the age of the owner, the beneficiary, and taxes.
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