A Checkbook IRA includes the features of a traditional or Roth IRA, but has one distinct difference: the account holder, not a custodian, has control over the investments. This makes Checkbook IRAs a good option for hands-on, confident investors. It lowers the amount of fees paid to account custodians and makes access to your IRA quicker and easier.
Saving for retirement is a financial responsibility that nobody can afford to overlook. Unfortunately, millions of people will reach their golden years with far less money than they will truly need. With the economy and markets in flux, when might be the best time to start saving for retirement? You might be surprised! We receive many questions about when to start saving for retirement. Then there are those who worry that it might be too late to save for retirement.
Should I Cash Out my 401K or Borrow From my 401K? If you need a large amount of money, you might be tempted to dip into your retirement fund. After all, borrow from your 401k and you’re taking your own money. Sounds simple enough but are there consequences to borrowing from a 401k vs hardship withdrawal. You’ll learn how to borrow from a 401k and the advantages and disadvantages of this decision.
As millions of baby boomers approach retirement with Generation X-ers not far behind the question of “Can you retire with $500,000?” repeatedly pops up among our readers. Yet, it’s not only those 60-year-olds thinking about retirement, but also, we find middle-aged folks asking if retiring at 55 with 500k is reasonable. This article will delve into these questions: Can you retire with $500,000? How much do I need to retire at 60? How long will $500,000 last in retirement? How to retire foreve…
I’m one of those dinosaurs that started her first IRA in her 20’s at the beginning of the IRA movement. At that time, there was no such thing as a Roth IRA, so I went with a traditional IRA. Find out if you need an IRA, if you expect to receive Social Security.
California’s CalSavers is a Model Roth IRA Retirement Savings Program By staff columnist, Alexandra Deluise One of the most emphasized pieces of wealth-building includes maxing out any and all workplace retirement accounts. In fact, this is one of the common suggestions for people looking to become millionaires. Automated investing can make or break your retirement success. Taking advantage of tax-deferred retirement accounts, such as an IRA or 401(k), is another way that employees can ensur…
Can I Retire Early? Get the Answer Big and even small regular expenses can sabotage a comfy retirement. Are you curious about how decisions about car purchases and lattes, might affect plans for retirement? Maybe you’ve never thought about the relationship between your new car and your retirement date.
5 Retirement Mistakes to Avoid for a Glorious Future Often, people imagine their golden years to be among the most relaxing and enjoyable of their lives, with exciting getaways abroad and peaceful sunsets out on the porch. And while these are wonderful dreams to have, far too often people make mistakes in retirement that cost them the freedom that they spent a lifetime working towards. One positive thing that comes from these blunders is that it gives those preparing for retirement the opport…
401k vs. IRA vs. Roth IRA Retirement options can be overwhelming. Should you choose a 401k vs. IRA? What is a 401k anyway? What’s the difference between a traditional IRA and a Roth IRA? Putting aside money for retirement is a good strategy, but it’s important to use the right type of retirement savings account for your personal financial needs in order to make the most of your pre-retirement years. That’s why it’s a good idea to become familiar with the benefits of a 401k vs. IRA benefits. W…
FIRE is popular among millennials – and older adults too. Inspired by the classic book, “Your Money or Your Life,” by Vicki Robin and Joe Dominguez, FIRE is an acronym – Financial Independence, Retire Early. Thousands or more diligent workers are striving to live with less to retire young. But, to what end? I read the book when it first came out in 1992 and I like the living with less idea. It’s smart for the economy, the environment and a lot of other reasons. Living below your means, reliev…
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