Guide to Borrowing from a 401(k) Account

Borrow from Retirement

Photo: StockMonkeys.com About 50 million working Americans contribute to a 401(k) plan. According to a study cited by Time, one in four will tap their 401(k) or similar retirement plans before retirement. In 2010 about $70 billion was taken from retirement accounts, according to the study. Given that, we thought it would be helpful to […]

Published or Updated: April 10, 2013

How to Maximize your Employer’s 401(k) Match

Free money is free money no matter how you look at it. Can you believe that every year millions of employees miss out on their employer’s 401(k) match? This is the best kind of free money because you don’t have to do much to take advantage. So what do you have to do? Simply be […]

Published or Updated: March 18, 2013

How to Max Out Your Retirement Savings

Max Out Retirement Savings

Max out your retirement savings with these 7 tips Photo: mjzitek I‘ve often wondered if the Apostle Paul was bad with his money. Yes, I’m talking about the guy that wrote most of the New Testament. In his letter to the church in Rome, Paul lamented that the things he wanted to do he doesn’t, […]

Published or Updated: November 24, 2013

A Complete Guide to Roth 401k Conversions

Roth 401k

Now anybody can convert an existing 401k into a Roth 401k, so long as your employer offers the Roth alternative. Roger Smith Roth IRAs have been a popular form of retirement savings for some time. And while there are income limitations that prevent higher income workers from opening a Roth IRA, since 2010 these limitations […]

Published or Updated: January 7, 2013

IRAs for Kids are a Great Way to Build Weatlh

Power of Compounding

IRAs for kids are a great way to teach children about investing and the power of compounding. Photo: Gerard Van der Leun The biggest mistake I’ve made investing is a mistake almost all of us have made. The mistake is not picking the wrong investment. It’s not buying or selling at the “wrong” time. And […]

Published or Updated: December 20, 2012

401k and IRA Contribution and Deduction Limits for 2014

The IRS recently released the new 2014 401k and IRA contribution and deduction limits. Unfortunately, because of a low inflation rate for the past year, not much has changed; you can contribute the same amount to both types of accounts this year as last. 401(k) Contribution Limits As announced by the IRS, the contribution limit […]

Published or Updated: January 6, 2014

5 Things to Know About an Inherited IRA

As part of my ongoing series on handling the estate of a loved one, today I want to look at inherited IRAs. My step-mother had a couple of IRA accounts. As you may know, with an IRA, you can select the beneficiaries that will inherit the account when you die. As such, the funds do […]

Published or Updated: October 26, 2012

Social Security to Increase by 1.7% in 2013

Today the Social Security Administration announced the Cost of Living Adjustment (COLA) for 2013. Beginning in January 2013, Social Security beneficiaries will receive a 1.7% increase. Supplemental Security Income (SSI) benefits will go up by the same amount beginning on December 31, 2012. To put this increase in perspective, the average recipient will see an […]

Published or Updated: October 16, 2012

Another Study on How Much You Should Save for Retirement

Over the years of writing about retirement here at the Dough Roller, I’ve covered a number of studies about retirement savings. There’s the book, Your Money Ratios, which posits that you need 12 times your annual salary by 65 to retire comfortably. And then there was a study by Money Magazine that basically reached the […]

Published or Updated: October 1, 2012