Retirement

401(k) Contribution Limits for 2022 and 2023: Maximize Workplace Retirement Savings See the 401(k) contribution limits for 2022 and 2023 so that you can plan and maximize tax-advantaged, workplace retirement savings. Roth IRA Contribution Limits for 2022 and 2023: How to Maximize Tax-Free Growth Photo of Lance Cothern Lance Cothern Roth IRA Contribution Limits for 2022 and 2023: How to Maximize Tax-Free Growth Retiring is a goal many people dream of. In order to retire, people need to find a...

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Solo 401(k) vs. SEP IRA: How Do You Choose if You're Self-Employed or a Small Business Owner? Compare the pros and cons of solo 401(k) plans and SEP IRAs for self-employed individuals and small business owners who want to save for retirement. 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 Photo of Lance Cothern Lance Cothern Traditional IRA Withdrawal Rules: When Penalties Do and Don't Apply A traditional IRA is a great choice for anyone who wants to build retirement savings... 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 sort... The Roth IRA 5-Year Rule: Ensure that Your Withdrawals Are Tax-Free Learn about the Roth IRA 5-year rule, which may restrict your ability to make tax-free withdrawals of your earnings. 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? Photo of Lance Cothern Lance Cothern 403(b) vs. Roth IRA: Which is Better for Your Retirement Savings? Saving for retirement can feel overwhelming. There are many acronyms and weird... 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 Learn the benefits of rolling over a 401(k) plan into an IRA to manage your retirement savings, including the different ways and steps to transfer those assets. 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 Photo of Lance Cothern Lance Cothern Indexed Annuities: Comparing the Pros and Cons If you’re getting close to retirement, chances are a salesperson has tried to sell... 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? Learn how fixed annuities work for seniors who seek guaranteed retirement income, but also consider the advantages and disadvantages of annuities. 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 Photo of Kevin Mercadante Kevin Mercadante 401(k) vs. 403(b) vs. 457 Plans: Compare Employer-Sponsored Retirement Plans 401(k) vs. 403(b) vs. 457 – the plan titles are used almost interchangeably when... 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? Learn how profit sharing plans can help small business owners recruit and retain top talent while bolstering employees’ retirement funds. 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? Photo of Lance Cothern Lance Cothern Should You Contribute to an IRA When You’re Already Retired? Retiring is a massive shift in your lifestyle. It’s also a major change in your... 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... Compare Reverse Mortgage vs. Home Equity Loans & HELOCs for Retirement Income Compare reverse mortgages and home equity loans or a HELOC to help generate retirement income to fund spending and living expenses in your later years. 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 Photo of Valencia Patrice Higuera Valencia Patrice Higuera 5 Ways to Use Your Home Equity to Fund Retirement There’s no denying it: A home can be a valuable asset. In retirement, home equity... 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 Find out about the pros and cons of having multiple IRAs - such as a combination of traditional and Roth IRAs -- for diversifying tax benefits. 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 Photo of Lance Cothern Lance Cothern Inheriting a 401(k): How to Manage the Assets Inheriting a 401(k) often comes at an unfortunate time. Someone close to you...
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