7 Things to Know About the Military’s New Retirement Plan

Mark Hull

The views expressed in this article are those of the author only, and do not necessarily reflect those of the U.S. Army or Department of Defense.  President Obama signed the 2016 National Defense Authorization Act (NDAA) into law on November 25, 2015. Before both houses of Congress approved the bill, a large part of the […]

Published or Updated: February 9, 2016

Which Retirement Calculator is the Best?

If you don’t know exactly what you’re “retirement number” is, saving for retirement is like chasing a moving target. Your retirement number is either a desired monthly income or the size of a retirement portfolio necessary to produce that level of income. We’ve identified five popular calculators that can help you determine your number. We’ll run a set […]

Published or Updated: March 14, 2016

What If You Over-Contribute to a 401(k) or IRA?

We recently got this interesting question from a reader named Jeff: I know the IRS limit for 401k contributions is currently $17.5k / yr. What I want to know is what actually happens if I contribute more than that, say $20k? Do I get a stiff penalty?  Do I go to 401k jail?  Is this […]

Published or Updated: December 15, 2015

Income Investing in Retirement — The Pros and Cons

Income investing in retirement has a lot of initial appeal. Rather than selling shares of a mutual fund or stock, one can instead live off of dividends from stocks and interest from bonds. This approach feels much safer than actually selling part of your investment. The reality of income or dividend investing, however, is not […]

Published or Updated: December 5, 2015

What Percentage Of Your Income Do You Really Need In Retirement?

In planning for retirement, you need target numbers. Numbers such as how much money you’ll need to have saved by the time you retire, how much you’ll have to contribute each year in order to reach that goal, and how much you’ll have to earn on your money between now and then. But before you […]

Published or Updated: November 4, 2015

Maxing Out Retirement Accounts: How Rich Could You Be?

Everywhere you look, experts are telling you to contribute to your retirement accounts. Whether it’s advice from newspapers, blogs, financial planners, or friends, any advice that is worth taking must include planning for retirement. Why? Because it’s that important! Over time, setting aside a small portion of your monthly income can mean the difference between living a comfortable retirement and […]

Published or Updated: May 2, 2016

Is Early Retirement Still Achievable?

Retiring early is a dream held by many, but few people understand what it takes to make it happen. Even worse, many people don’t realize how much money they’ll need to retire early, so they hold out hope when their chances are slim. Still, it’s important to note that early retirement is absolutely achievable. With a commitment […]

Published or Updated: November 1, 2015

Can I Count on Getting Social Security When I Retire?

In response to the devastating and crippling effects of the Great Depression, the United States government promised to help its residents avoid poverty in old age. To this end, Congress passed the Social Security Act of 1935, and it was signed into law by President Franklin Delano Roosevelt in August of that year. The original […]

Published or Updated: September 4, 2015

5 Ways Early Retirees Can Avoid the 10% Penalty on Early Distributions

One of the conundrums faced by anyone who wants to retire early is the 10% additional tax on certain early distributions from many retirement accounts.  For example, if you retire at 50, you won’t be able to access pre-tax retirement accounts without incurring the 10% additional tax, unless you qualify for one of the exceptions […]

Published or Updated: August 26, 2015

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