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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 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 Converting your traditional IRA to a Roth IRA could have important implications for your estate planning strategy. Beginning this year, you can convert to a Roth regardless of your income or tax-filing status and spread the pre-tax income equally across 2011 and 2012. Should you decide to do so, it also may be a good idea Continue reading A Roth Conversion and Your Estate Planning Strategy Question: I’m a full-time student who has a part-time job at a community college. Can I start contributing to an IRA? Answer: Yes, you almost certainly can. And if you can swing it, you probably should, since contributing to an IRA early in life can be an excellent way to lay the foundation for a more Continue reading Saving: Building a Nest Egg on a Part-Time Salary 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 Many of us are so behind in our savings that we must rethink our long-term financial goals, and may be struggling to find anything to leave as an estate to our heirs. If you haven’t been able to save enough for a tidy bequest, or your goals were crushed in the recession, try these tactics for Continue reading Creative Estate Planning – Maximize Your Legacy 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 Sheltering your investment profits from taxes may seem like a remote concern when your accounts are a sea of red ink. But tax shelters like 401(k)s and IRAs are more important than ever. See the full article |
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