Starting in 2024, new rule changes to 401(k) catch-up contributions go into effect for investors ages 50 and over. These changes impact not only where you can save more, but also if you’re even able to. Some might argue this new law is essentially a tax increase. And that hurts investors who are closer to… Continue reading Big Catch-Up Contribution Changes Coming in 2024
Everyone seems to have an opinion about target date funds. On one side, they make 401(k) investing easy. On the other, there can be a significant difference in performance over time from target date funds versus other plan options. In this article, we’re breaking down everything you need to know about target date funds so… Continue reading Are Target Date Funds the Best for Your Retirement Goals?
The Secure Act 2.0 brought about numerous changes to how we save for retirement, including when investors need to start taking required minimum distributions (RMDs). However, the IRS is making RMD changes yet again – this time delaying certain rules in order to provide a smoother transition not only for plan administrators, but also for… Continue reading IRS Delays Certain RMD Rules: What You Need to Know
June 26, 2023 In Retirement Savings, Retirement Tips If you’re over 40 and worried about your retirement savings, take a deep breath. You’re not alone, and it’s never too late to turn things around. In this article, we’re exploring 10 actionable strategies to help you catch up on retirement savings after 40. #1 Assess Your… Continue reading Reclaiming Your Retirement: Catch Up on Retirement Savings after 40
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?
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)?
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 13, 2023 In Retirement Savings, Retirement Tips Paying for college is expensive, which is why college financial planning should really begin as soon as each child is born. But, let’s be honest. Sometimes life gets in the way, and, before you know it, college is right around the corner, and you haven’t done as… Continue reading 12 College Financial Planning Tips for Parents
