Retirement withdrawals

Companies can provide better financial literacy to help older couples, who are separating, make smart decisions with their money.

Retirement security in the U.S. is facing elevated threats of lower interest rates, recession, income inequality and climate-related natural disasters.

Defined contribution plan participants will seriously diminish their retirement savings if they prematurely cash out all or part of their 401(k) savings account balances.

Many employees are not in a financial position to deal with an emergency medical crisis like the current pandemic and it’s hurting their retirement.

Clients are advised to minimize spending and tap possible sources of cash and credit, including their tax refund.

“Find ways to generate income,” says one financial planner.

Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.

Seniors choosing between traditional and Roth IRAs must account for their current and future tax rates.

The spike in the number of older employees in the workplace reflects a trend over the past decade.

Taking advantage of catch-up contributions is one of several methods that can help them get back on track.

After developing a plan to cover their bills and emergency expenses, clients in a new marriage are advised to start working on their long-term goals.

Nearly 48% of younger Americans feel they are not saving enough to secure their lifestyles after leaving the workforce, a report finds.

To reduce the risk of retiring early, seniors are advised to take on a part-time job or downsize to reduce expenses.

While there are strategies to help reduce risk, clients should recognize the order of investment returns is crucially important, an expert writes.

It is important for entrepreneurs to have an exit strategy and to take control of their debt.

Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.

“By and large, many simply have not yet saved enough to retire comfortably.”

They are triple-tax advantaged, but also introduce significant challenges — especially for life partners with multiple accounts.

Despite auto portability’s proven ability to cut 401(k) withdraws, a solution addressing leakage and the lack of seamless plan-to-plan asset mobility is missing.

Despite auto portability’s proven ability to cut 401(k) withdraws, a solution addressing leakage and the lack of seamless plan-to-plan asset mobility is missing.