May 15, 2023 The original SECURE Act of 2019 extended the Required Minimum Distribution (RMDs) age from 70½ to 72 for retirement accounts. Now with the passing of the Omnibus Bill, SECURE Act 2.0 extends the RMD beginning date to age 73, starting in 2023. Not only does the new legislation push back the required… Continue reading How RMD Changes Protect Your Retirement Savings
May 8, 2023 Contrary to what most experts advise, there are times when it may not make sense to roll over your 401(k). We even advise most investors against leaving behind an old 401(k). However, there is an IRS rule that – if you qualify – may help you have more money and avoid penalties… Continue reading When It May Not Make Sense to Roll Over Your 401(k)
April 24, 2023 In Retirement Savings, Retirement Tips The more you know your rights as a 401(k) investor, the better choices you will be able to make building wealth for retirement. But far too many 401(k) investors don’t know their rights due to the lack of education. Most of us sign up for a 401(k)… Continue reading What Are My Rights as a 401(k) Investor?
April 17, 2023 401(k)s are often the largest asset people have for retirement. We save year after year, paycheck after paycheck, with the goal to have a comfortable retirement. However, there are times when we may be tempted to dip into our retirement savings before we reach retirement age. While it may seem like an… Continue reading The High Cost of Raiding Your 401(k)
April 10, 2023 For 401(k) investors over 50, retirement is around the corner. And, with the market volatility over the past year, many are wondering how to best protect their savings and ensure they have enough for retirement. If you’re nearing retirement and want to do what you can now to maximize your 401(k) savings… Continue reading Costly 401(k) Mistakes Investors over 50 Are Making
March 27, 2023 In Retirement Savings, Retirement Tips With inflation not going down and interest rates rising, many Americans are wondering: Should I pay off debt or continue to contribute to my 401(k)? It’s not surprising American households are feeling pinched. NerdWallet reports, “In the past year, median household income has grown just 4%, while… Continue reading Pay Off Debt or Contribute to a 401(k)?
The Banking Crisis: What Investors Need to Know [Video Explanation] March 20, 2023 In Financial Health, Retirement Savings There’s a lot of concern about the banking industry following the collapse of the Silicon Valley Bank (SVB). So what happened and how does this affect the average 401(k) investor? Keep reading to find out. What Happened… Continue reading The Banking Crisis: What Investors Need to Know [Video Explanation]
March 6, 2023 In 401(k) Mistakes, Retirement Savings Vesting schedules prevent 401(k) investors who don’t stay long at a company from taking their employer retirement contributions with them when they change jobs. Which means the money your employer contributes to your 401(k) may be taken back should you decide it’s time for a change. With… Continue reading Changing Jobs? Know Your Vesting Schedule before Quitting
February 27, 2023 In Retirement Savings, Retirement Tips Big changes are coming to 401(k) benefits this year and the next few years. If you want to maximize your retirement savings and your retirement lifestyle, it’s critical you are aware of these changes. The new 401(k) rules and benefits are a result of the Secure Act… Continue reading New 401(k) Rules and Benefits for 2023
February 20, 2023 A record number of Americans are taking hardship withdrawals and tapping into their 401(k)s. According to Fidelity, “Participants taking hardship withdrawals from their accounts rose to 2.4% last year, up from 1.9% in 2021.”¹ This represents the highest share of hardship withdrawals recorded by the financial services firm. Vanguard also recorded a… Continue reading 401(k) Hardship Withdrawals – What You Need to Know