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Retirement

Retirement is one of the biggest life events that you'll need to prepare and save for. But don't worry -- we're here to help! With in-depth articles on everything from filling out tax forms to choosing retirement plans, to even downsizing, we've got you covered, No matter where you are on your retirement timeline.

Which Self-Directed Retirement Plan Is Right for Me?

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen You have a sound knowledge of the alternative investment landscape, and you plan to use that for retirement investing. And just when you’re about to process the first transaction, you find out that your retirement plan provider doesn’t allow alternative investments. That reduces your choices to the traditional asset classes.

Considering a 401(k) Loan? Know These Hidden Dangers

401(k) loans have become a popular source of credit. They have interest rates that are almost always lower than the alternatives. Because they’re secured, you don’t run the risk of building up large amounts of unsecured debt. And if they’re offered by your employer, you can get them without even having to qualify based on your credit. The payments can be handled out of your paycheck so you hardly know that it’s happening. But the very simplicity of borrowing against your 401(k) plan covers up some hidden dangers that you need to be aware of if you’re considering taking out a 401(k) loan — even for a down payment on real estate.

How Much to Have Saved in Your IRA by Age

Retirement savings are a long-term game. Most of us start saving about three decades before we ever touch the money. Consistently saving and investing your money is the best way to grow your wealth and achieve a comfortable retirement. But you might not know how much you should have in your IRA at different ages. And hey, it’s tricky to figure that out. That’s why I’m here to help today.

Why You Should Prepare for Early Retirement – Even If It Isn’t a Goal

Plenty of us dream of being able to retire early — to escape the “rat race” and spend many decades of our lives doing just what we want to do. For most of us, it’s just that: a dream. But even if you’re not seriously considering early retirement as a real possibility, it can make a lot of financial sense to prepare for it anyway. Let’s explore the reasons why.

SEP IRA vs. Solo 401(k) – Which Is Better for You?

Self-employment has many perks. But it also comes with a lot of responsibilities — not the least of which is saving for your own retirement. When you work for an employer, you can usually count on there being a 401(k) plan or something similar already in place that you can contribute to. However, when you work for yourself, it’s a different story. Since you are your own boss, you are responsible for both starting your own plan and funding it. Luckily, there are products on the market that can help you out. Here are two retirement plan options worth considering if you’re self-employed or a business owner.

How Retirees Can Prosper in a Low Interest Rate Environment

If you pick up a book about retirement from the ’80s, you’ll probably see a recommendation to park all your funds in government bonds and get yourself to the beach for a relaxing few decades of mai tais and warm sand. That’s because, until recently, the interest rate in the U.S. has been a healthy 8%–10% or more. Today it’s a different story.

Are You Getting Ripped Off With Your 403(b) Retirement Plan?

For the most part, 403(b) plans are the nonprofit world’s answer to the 401(k). But there is one big difference: 403(b) plans have higher investment fees. Typically, it’s teachers and healthcare workers who are covered by these plans, so they’re the ones who have the highest fees for their retirement plans. How can that be?!

Take It to the Limit: How to Maximize Your Roth IRA

The Roth IRA is my favorite retirement vehicle. And I’m not alone in this sentiment — according to Investment Company Institute data, about one-third of all IRA investors have a Roth. And research from Fidelity Investments suggests Millennials and baby boomers alike are wholeheartedly embracing these savings accounts, contributing more money on an average annual basis into Roths than into traditional IRAs.