These reviewers are experts in their fields and professional writers who often work for reputable newspapers and magazines like The New York Times and The Wall Street Journal. Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism. Our expert reviewers hold advanced degrees … Read more
A qualified retirement plan is an investment plan offered by an employer that qualifies for tax breaks under the Internal Revenue Service (IRS) and ERISA guidelines. Because an individual retirement account (IRA) is not offered by employers, a traditional or Roth IRA is not considered a qualified plan, although they feature many of the same … Read more
It’s not hard to understand why Roth IRAs are popular – who wouldn’t want to build up a savings account that can provide tax-free income during retirement? But contributing to a Roth can be difficult to do as it requires compensation income, and total income that falls under a certain threshold. Fortunately, there is a … Read more
Check to see what the tax effects will be before you make the change. Part of the series: Strategies to Get the Most Out of Your 401(k) If you are considering leaving a job and have a 401(k) plan, you need to stay on top of the various rollover options for your workplace retirement account. … Read more
If you’re the Executor of someone’s estate, there are many steps to follow, including showing an accounting to beneficiaries. Here’s what you need to know!. As the executor or administrator of an estate, you’re beginning to acquaint yourself with the requirements of your role. What are your duties? Do you get paid? What decisions do … Read more
Dreaming of saying goodbye to the 9-to-5 grind a whole decade and a half before traditional retirement age? You’re not alone! Early retirement at 50 is becoming an increasingly popular goal for many Americans who want to reclaim their time and enjoy life while they’re still young enough to make the most of it But … Read more
The traditional 401(k) is a workplace retirement savings plan that allows you to save for retirement with contributions taken straight out of your paycheck—before taxes. Those automatic contributions are a super convenient way to make sure you’re consistently building your retirement savings, which is awesome. And that plan—the traditional 401(k)—was the only game in town … Read more
Most of the time, saving for retirement is best done in later years. However, some 401(k) plans let you take money out early if you have a qualifying financial hardship. Here’s an overview of 401(k) hardship withdrawals, including how they work and what qualifies as a hardship. Understanding Hardship Withdrawals in 2025: Documentation Requirements Made … Read more
When designating beneficiaries for a retirement account, one option is to leave the money to a trust. In the financial world, estate planning lawyers and financial advisors have been arguing about the pros and cons of this path for a long time. Thinking about naming your revocable trust as the beneficiary of your IRA? You’re … Read more
The future looks bright for the next generation of retirees. People are living longer and approaching retirement with a renewed sense of purpose. With more life to look forward to and more passions to pursue, its essential to build a nest egg that lasts a lifetime. Annuities are products that can provide ongoing payments through … Read more