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Getting Cash From Your 401(k) - To Borrow Retirement Money for Low Interest, Investment, Basic NeedsMost financial experts believe taking money out of your 401(k) should be thought of as a last resort effort when you are desperate for cash. One reason why taking cash out of your 401(k) is frowned upon is that many people don’t have enough saved for retirement in the first place, so when they take that Continue reading Getting Cash From Your 401(k) – To Borrow Retirement Money for Low Interest, Investment, Basic Needs A lot of people have been using their 401(k) plan as a source of cash. When Fidelity asked some of them why they were tapping into money earmarked for retirement. They responded that the money was needed to keep their home, to pay for college or to purchase a home. If you’re considering a withdrawal from Continue reading How to Get Cash Out of Your 401(k) or IRA Without Paying a Penalty Unemployment, with large numbers of workers looking for jobs, appears to be having a greater effect on how happy people are with their finances and the economy, than other factors such as household debt and the stock market. Consumer confidence, by any measure, has taken another hit this summer, with mainstream surveys such as the Continue reading How Happy We Are With our Finances Right Now Affected by Whether We Have a Job To have a decent chance at earning returns that are high enough to generate sufficient income initially plus keep pace with inflation, most people will have to invest in a portfolio that contains at least some stocks and bonds. And when you invest in stocks and bonds – as opposed, say, to CDs – you Continue reading How to Make Your Money Last When You Retire It’s always a good to idea to make the most of tax-advantaged savings accounts and investments in your retirement planning. They’re a smart way to leverage your savings effort. But now is an especially important time to make sure you’re not overlooking any opportunities to save and invest in a tax-efficient way. Why? Well, taxes could soon Continue reading Pay less tax when planning for retirement Most investors know (or should know) the tried-and-true methods to build wealth. Shift money automatically from your paycheck to a savings plan; take advantage of your employer’s matching contributions to 401(k) plans; eliminate (virtually) all consumer debt; track and trim household expenses; reduce investment fees; and, of course, save more than you’re saving now. But Continue reading Net Worth: Four Ways to Build Wealth In her new book, “The Art of Choosing,” Sheena Iyengar explores ways we can become better choosers. Many of her recommendations are aimed at the people who design those options, such as businesses and 401(k) administrators. Ms. Iyengar: My research assistants and I offered samples of a British jam. We would switch between two Continue reading Investing: Why the Large Selection of Choices Affects You Question: I’m 27 and have had a Roth IRA since I was 16 years old. I’ve been maxing out that account since I graduated college, and I now also max out my 401(k). But this year my income will be too high to allow me to contribute to either a Roth IRA or traditional deductible Continue reading An Aggressive Saver Who Can’t Save Enough Should you borrow from your 401(k) to pay off your debt? By borrowing from your 401(k), you won’t actually be paying off debt in the sense of eliminating it. You’ll be replacing your existing debt with another loan. So the real issue is whether it makes sense to transfer your debt to your 401(k). Thinking of your 401(k) Continue reading Should You Borrow From Your 401(k) to Pay Off Your Debt? Some of the best strategies for managing money are based on principles that have stood the test of time: Save consistently, diversify, keep your costs down. But that doesn’t mean you never have to adjust your thinking in response to a single major event or a fast-growing trend. Invest globally Your investments must reflect a radically changed economy. The Continue reading Money and Wealth: Investing Strategies You Need Now |
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