401(k) Loan Repayment
A longer repayment time can be an advantage. Provided by Marc Aarons at Money Managers, Inc. The conventional wisdom about taking a loan from your 401(k) plan is often boiled down to: not unless absolutely necessary. That said, it isn’t always avoidable for everyone or in every situation. In a true emergency, if you had […]
Where Will Your Retirement Money Come From?
Retirement income may come from a variety of sources. Provided by Marc Aarons at Money Managers, Inc. For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security. Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security […]
When a Family Member Dies
A financial checklist for the most difficult of times. Provided by Marc Aarons at Money Managers, Inc. The passing of a loved one irrevocably alters family life. After a death, there is so much to attend to; it is better to do it sooner rather than later. Here, then, is a list of what commonly […]
Taking a Loan from Your Retirement Plan = Bad Idea
Why you should refrain from making this move. Provided by Marc Aarons at Money Managers, Inc. Thinking about borrowing money from your 401(k), 403(b), or 457 account? Think twice about that because these loans are not only risky, but injurious, to your retirement planning. A loan of this kind damages your retirement savings prospects. […]
The IRA and the 401(k)
Comparing their features, merits, and demerits. Provided by: Marc Aarons at Money Managers Inc. How do you save for retirement? Two options probably come to mind right away: the IRA and the 401(k). Both offer you relatively easy ways to build a retirement fund. Here is a look at the features, merits, and demerits of […]
The Safe Harbor 401(k) Deadline Is Quickly Approaching
The Safe Harbor 401(k) Deadline Is Quickly Approaching Now is the time for small business owners to act. Provided by Marc Aarons @ Money Managers, Inc. October 1 is the deadline for companies to set up Safe Harbor 401(k) plans for 2018. If you want to put one in place at your business, you need […]
Tax Efficiency in Retirement
Tax Efficiency in Retirement How much attention do you pay to this factor? Provided by Marc Aarons @ Money Managers, Inc. Will you pay higher taxes in retirement? Do you have a lot of money in a 401(k) or a traditional IRA? If so, you may receive significant retirement income. Those income distributions, however, will […]
Do You Have a Financial Wellness Program?
Companies are luring & retaining employees with this key perk. Provided by Marc Aarons @ Money Managers, Inc. What do your retirement plan participants wish you would offer? Besides the chance to save and invest part of their paychecks, that is? The answer could be “a little more help.” Last year, Charles Schwab surveyed […]
A Look at Self-Directed Brokerage Accounts
Some retirement savers choose this option in their 401(k) plan. Provided by Marc Aarons @ Money Managers, Inc. Ever hear of an SDBA? That acronym stands for self-directed brokerage account. If you are enrolled in a 401(k), 403(b), or 457 plan, you might want to see if your plan gives you this option, […]
Retirement Account Limits for 2017
2017 Retirement Account Limits How much can you contribute this year? Provided by Marc Aarons In 2017, you have another chance to max out your retirement accounts. Here is a rundown of yearly contribution limits for the popular retirement savings vehicles. IRAs. The 2017 limits are the same as in 2016: $5,500 for IRA […]