401k or Roth - Which to max out first? Pros and Cons

Roth or 401k, Which to Max Out First?

Roth or 401k Which to Max out First? This is an excellent question, which to max out first, a 401K or a Roth IRA? The easy answer, max out both the 401K and the Roth IRA! You can’t go wrong saving and investing as much as you possibly can now.

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Avoid these common life insurance mistakes made by retirees.

5 Life Insurance Mistakes Retirees Make (That Cost Them Thousands)

As you’re dealing with life insurance in retirement, the wrong move can cost you thousands of dollars. …and unless you have a massive pension or other retirement accounts, those are mistakes you simply can’t afford. To help you make the right choice with your life insurance needs, here’s a list of the top life insurance mistakes retirees make and how to avoid them. 1. Retireees avoid life insurance entirely You might think you’re too old to get life insurance or it’s too expensive.

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Should I #invest in an #annuity?

Should I Invest in an Annuity? Simple Answers to All Your Annuity Questions

Annuities are a hot button financial offering because they are a product with a high commission for the seller. Thus, they are frequently (inappropriately) promoted to individuals for the purpose of giving the seller a fat commission. This article will delve into the nuts and bolts of the annuity product, when and when not to buy an annuity, and how not to get taken when you purchase an annuity. What is an Annuity? Annuity means a stream of income payments. Sounds great? Who doesn’t want a st…

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Avoid outliving your money in retirement with these 5 steps.

6 Steps to Avoid Outliving Your Money in Retirement

Planning for retirement is one of the most important things you can do financially. It’s also one of those things that people tend to put off until retirement is right around the corner. But if you don’t have a solid plan in place, you risk outliving the money you set aside for retirement. If you start today, it’s possible to avoid outliving your money. Make it a priority and your future self will thank you.

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Ultimate end of year retirement planning tips

Ultimate End of Year Retirement Planning and Hot Links

Dara Luber, senior manager of retirement at TD Ameritrade came out with a simple, actionable end of year retirement planning list. Although you’re probably managing multiple activities now, with school vacations and holiday planning, don’t forget yourself. By dedicating some time to end of year retirement planning, your future self will thank you. Give yourself a gift by taking a few moments to improve your financial retirement life for tomorrow. You still have a few weeks before January 1 to…

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Which Accounts to Tap 1st in Retirement

Which Accounts to Tap 1st in Retirement

“I’m free” you think after that last day of work. You’ve toiled, saved, invested and finally you’re ready for the next life transition-retirement. Even if you’re still working a bit, you consider yourself ‘retired’. Once the elation subsides, you’re confronted with a whole new set of challenges. You need to adjust to the idea that your retirement nest egg may not grow, but decline in the upcoming years. It’s crucial to figure out which accounts to tap 1st, now that you’re retired.

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why delay social security benefits

Why Delay Social Security Benefits? To Boost Long-Term Wealth

Do you spend more time making money than you do managing the money that you already have? For those of us tiptoeing toward the Social Security (S.S.) deadline, did you know that by appropriately managing your benefits, you can earn tens of thousands more dollars or more in retirement? That’s right, managing when you and your partner take your Social Security benefits can be equivalent to giving yourself a juicy raise in your retirement paycheck.

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401(k) Rollover-What not to do. Don't make this mistake.

What Not to Do With an 401(k) Rollover

The 401(k) Saga-Don’t do This! Financial professionals frequently suggest rolling over your 401(k) into an IRA when you leave a job. The down side of leaving your retirement account with the old employer means you’re subject to their fee structure and investment options. If you rollover your 401(k) into an IRA-you gain control! Advantages of a 401(k) Rollover into an IRA You choose: Where to house your money. Already have an account with Schwab, Fidelity, Vanguard, ETrade or another discount …

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401(k) #Retirement Advice-Stop Tinkering

Stop Tinkering With Your 401(k) to Keep Your Wealth

Keep Your Fingers Off the 401(k) Retirement accounts functioned very differently just a couple of decades ago. We had to mail in a deposit to our retirement accounts, or banks drafted deposits out of our bank accounts. To make a change in our asset allocation, we had to call a broker, and our broker had the option either to agree with us or try and talk us out of making a bad decision. Now, thanks to the internet, we can see our 401(k)s with the touch of a button. We can tweak and trade to ou…

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compounding leads to a comfortable retirement

What Factors Impact Whether I’ll Retire Comfortably?

How to Retire Comfortably FF at Feeling Financial asks: What factors play the biggest role in whether or not I’ll retire comfortably? Is it the funds I pick, how much I save, or how often I rebalance? Recently, when talking about budgeting with my Mom, she mentioned that she and my Dad never budgeted. That really surprised me. They were and still are very financially savvy. My dad came from an impoverished background and my mom’s upbringing was modest. My dad started working at age 10 to help…

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