Tax Rules on Early Withdrawals

Are you thinking about withdrawing money from your retirement plan early? An estimated 1.5% of 401(k)s and IRAs assets leak out each year through loans, cashouts, and early withdrawals—so, you’re not alone. $26.1 trillion Total assets in retirement accounts (Source: Investment Company Institute) But how will this financial move impact your taxes and future? The […]

Retirement planning tips by age

32% Percentage of Americans on target to cover their current expenses when they retire. No matter what stage you are in life, there are tweaks available to improve your path to retirement. Whether you are just starting out or about to hit retirement, we have tips on retirement planning by age for you. This comprehensive […]

Roth IRA Vs. 529

College tuition and fees alone cost $32,088 for four years at a public university, according to the U.S. Department of Education. Go to a private university instead, and it could cost you upwards of $100,000, and that’s not even including room and board, supplies, or textbooks. $32,088 Average college tuition fees at a public university […]

calculation

Saving money for retirement is something that just about everyone knows they should be doing. The sad reality, however, is that very few of us are actually saving enough money to allow us to be able to enjoy a financially comfortable retirement. So, how much money should we be saving each month towards our retirement? […]

Like many Americans nearing retirement age, you may be eagerly anticipating the last time that you punch a clock or fight traffic to get into the office before the boss. But if you’re smart, you’ll follow the same savvy strategy that most Americans followed in 2012: waiting until they reach full retirement age to begin […]

Fixed Income

It used to be that the golden years were a little more golden. In addition to social security benefits, you’d retire with a pension, and you could live off the interest earned on retirement savings. Add a lower cost of living and higher home equity to the equation, and living the good life was easy. […]

The definitive guide to socially responsible investing

Have you begun to save for retirement? According to a recent survey, only two out of three workers feel confident about having enough money to live comfortably in their retirement. Most people don’t start saving for retirement until they hit 31, which undercuts their returns significantly. Even though retirement may seem far off, the earlier […]

Say you saved X million dollars in your combined retirement savings plans. You’re set for life, right? Unfortunately, not necessarily. To paraphrase a great superhero, with great wealth come great taxes. As soon as you start withdrawing money from your retirement accounts, you’ll start paying income tax on it. So how can you protect your hard-earned […]