Your retirement might seem far away, but your current decisions can significantly shape your future. By making a few strategic changes to your savings and investment approach, you can substantially grow your…
Tag: 401(k)
Unlocking the Truth About After-Tax 401(k) Accounts
The 401(k) retirement plan has evolved significantly over the years, providing American workers with various ways to save for their golden years. Among these options, the after-tax 401(k) contributions stand out as…
Shocking Revelation: High-Income Savers Must Pay Taxes NOW on Retirement Contributions
Tags: retirement savers, catch-up contributions, taxes, Congress, Secure Act 2.0, retirement accounts, Roth basis, after-tax money, tax deduction, retirement planning, contribution limits, 401(k), retirement plans, Vanguard report, legislative errors, operational challenges, retirement…
Are You Falling Into A Hidden Tax Trap By Delaying RMDs?
Congress has recently expanded a tax trap that affects individuals with traditional IRA and 401(k) accounts by enacting the SECURE Act 2.0 in December 2022. This law has pushed back the age…
How the SECURE 2.0 Act Is Transforming Retirement Savings
The year 2023 has brought about significant changes in retirement saving practices, offering relief to individuals planning for their post-work years. After a challenging period of economic downturn and inflation, the markets and U.S. inflation have stabilized, presenting opportunities for savers at various life stages.
The Future of Graduation Gifts: Turning Student Cash into Retirement Gold
Invest your graduation gift money into retirement savings. Start early, grow your wealth with the power of compound interest, and secure your financial future.
Here Are The Potential Consequences Of The Debt Ceiling Standoff For Your Retirement Plans
A meeting between President Biden and congressional leaders is scheduled to discuss the debt ceiling at a critical time when the country may be unable to meet its obligations. Economists and administration officials have warned that a potential default on the national debt, a first in U.S. history, could result in a financial disaster. This would severely affect the domestic economy and cause turbulence in global markets.
How To Stop Taxes From Harming Your Retirement Goals
When people consider retirement planning, they often prioritize saving and investing so they can retire with a comfortable nest egg. And that is an excellent starting point. However, it is equally essential to consider how taxes will impact your retirement funds and any other sources of income you may rely on after you reach retirement age.
No 401(k) No Problem, Here is how to Retire Comfortably Without One
There is no reason for alarm if you do not have access to a 401(k). However, you will need funds to supplement your Social Security benefit to retire comfortably unless you are one of the lucky few who are incredibly wealthy.
IRS Announces New Contribution Limits for Retirement Plans in 2023
Inflation is excellent news for those saving for retirement. At least for individuals seeking to maximize their contributions to retirement accounts such as a 401(k), conventional IRA, or 403(b), the following strategies are recommended (b).
