There are important RMD changes for 2021 that every 401(k) investor needs to know about to avoid penalties. Required minimum distributions (RMDs) are IRS-mandated withdrawals from retirement accounts. The IRS requires these withdrawals to ensure that taxes are paid on amounts that were contributed on a pretax basis, plus any tax-deferred earnings in those accounts… Continue reading Important RMD Changes for 2021
When thinking about retirement, most people’s minds drift to a dream life involving no work, vacations, and finally getting to enjoy their favorite hobbies. However, several overlooked retirement expenses may prevent you from doing any of this during retirement. The disconnect between what people believe they need to attain their retirement lifestyle and what they… Continue reading 7 Overlooked Retirement Expenses When Planning
If you’re looking for a way to boost 401(k) returns in 2021, rebalancing may help you do just that. Many 401(k) investors fail to rebalance and, in doing so, may potentially miss out on earning more and keeping more of their hard-earned retirement savings. Because when it comes to saving, it’s not only important what… Continue reading One Action That May Boost 401(k) Returns in 2021
What parent conversation is more uncomfortable than the birds and bees? Talking to your adult children about family financial planning. According to a study by Home Instead Senior Care, approximately 80 million Americans neglect to have important end-of-life discussions regarding family financial planning.¹ The study also reports, “Unfortunately, research indicates that 70 percent of conversations… Continue reading Family Financial Planning: Why Awkward Money Talks Are Necessary
There’s no such thing as a dumb question – especially when it comes to 401(k) investor questions. The problem is that, for whatever reason, many investors don’t ask. If this sounds familiar, you’re not alone. CNBC reports, “Though it’s one of the most common retirement savings vehicles, 63 percent of Americans don’t understand exactly how… Continue reading 7 Most Common 401(k) Investor Questions Answered
Parents dream about the day their little ones will spread their wings and leave the house…and not return. But that empty nest won’t happen unless kids are taught how to manage money correctly – that includes teaching kids about investing. This isn’t something to hope and pray they learn in school. According to a CNBC… Continue reading 12 Ways to Teach Kids About Investing
For investors behind on retirement and over 50, it may seem as if there is little they can do to catch up. The good news is that you may be able to get closer to your retirement goals than you think. Below are 9 ways you can catch up on retirement over 50. #1 Revisit… Continue reading Can I Really Catch Up on Retirement If I’m over 50?
The question of whether to pay off debt or contribute more to a 401(k) is an important one — and one with no definitive answer. After all, no two investors are created equal. There are also numerous factors to consider when answering the question, such as how on track you are to meet your retirement… Continue reading Should I Pay Off Debt or Contribute More to My 401(k)?
Another year around the sun means another year closer to retirement. For 401(k) investors who are behind on retirement savings and for those looking to get ahead in 2021, here are 6 ways that may jumpstart retirement savings in 2021. #1 Contribute as Much to Retirement Savings as Possible The IRS has new retirement plan… Continue reading 6 Ways That May Increase Retirement Savings in 2021
2021 is officially here, and we are all hopeful it will be better than the last. 2020 might have derailed many of our financial goals, but the silver lining is that it showed us how important it is to financially plan for the future. If you haven’t already, get started on your financial checklist for… Continue reading 16-Point Financial Checklist for 2021
