IRA Withdrawals That Escape the 10% Penalty
The list of these options has grown. Provided by Marc Aarons at Money Managers, Inc. An IRA, or Individual Retirement Account, is a tax-advantaged savings account that is subject to special rules regarding contributions and withdrawals. One of the central rules of IRAs is that withdrawals prior to age 59½ are generally subject to a […]
Some Changes Are Coming for 401(k)s
Take note of them for 2019. Provided by Marc Aarons at Money Managers, Inc Some notable developments are about to impact 401(k) plans. They follow a major change that became effective in 2018. Thanks to the Tax Cuts & Jobs Act, workers who borrow from 401(k) accounts and leave their jobs now have until […]
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. […]