From the category archives:
Do you know how much your 401(k) is costing you? Chances are the answer is no. Because a 401(k) does not send out a monthly or quarterly bill, it’s easy to forget about the fact that these retirement accounts can cost plenty. Most employers absorb some of these costs, but many of [...]
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The IRS recently released the 2010 IRA contribution and deduction limits. IRAs (Independent Retirement Accounts) are a great way to save for retirement, even if you already have a 401k at work. Figuring out how much you can contribute and whether your contributions are deductible can be a bit daunting at times. In [...]
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Update: We’ve just published a List of Online Discount Brokers To House Your IRA.
I recently met with my tax accountant to discuss, among other things, setting up an SEP IRA. An SEP IRA is a retirement account designed for self employed individuals and owners of small businesses. An SEP IRA works similar [...]
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I was surpirsed at the “Borrow from your 401k” suggestion. While it’s true that it’s better than cashing out, so many people are being laid off unexpectedly. When this happens, it must all be paid back or considered a cash-out, which comes at a time when people are least able to repay because they just [...]
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Let’s get right to the point. Saving for retirement in a Roth 401k likely will leave you with less money in retirement than if you had invested in a traditional 401k.
There are some exceptions to this rule. For example, a Roth 401k may be the right choice if you make more [...]
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Online retirement calculators come in all shapes and sizes. Some retirement calculators are extremely simple and provide little in the way of helpful information you can use to plan for retirement. Others are complex affairs that require an advanced degree from MIT to use. What follows are 11 online calculators for retirement [...]
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The M-Network is currently doing a series highlighting Dave Ramsey’s 7 Baby Steps for getting out of debt and getting your life on the right track financially. You can read about all of the steps over on Cash Money Life who kicked things off with a great introduction. As other members of the network add [...]
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Photo Credit: sco
Are your retirement savings enough to live comfortably during your golden years? The March edition of Money Magazine has some guidelines to help you answer that $64,000 question. Before we get to the guidelines, it is important to understand that they are built on a number of assumptions. First, [...]
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Photo Credit: pasotraspaso
Traditional retirement looks like this–work until you’re 65 or so, and then stop working until you die. More recently, views of retirement have begun to change, as more and more “retirees” are forced to work long after 65. There is a major problem with this approach to retirement, which I’ll [...]
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