Thought Leader. Financial Planner. Advocate.

User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
  • Starting a 401(k) is a popular option for those beginning to save for retirement.
  • Many are uninformed about the steps in transferring old 401(k) plans, which could lead to missed opportunities for generating more savings.
  • Leaving your 401(k), cashing it out, rolling your account into a rollover IRA or a new 401(k) are the most popular options; however, some methods are more recommended than others.

Starting a 401(k) plan is the most popular way for many in the workforce to grow their nest egg for retirement.

User Rating: 3 / 5

Star ActiveStar ActiveStar ActiveStar InactiveStar Inactive
  • Roth IRAs are "hidden gems," especially for younger investors, says Gen Y advisor.
  • Roth IRA contribution limits are based on household income.
  • Investors contribute after-tax dollars from their paychecks and can withdraw any earnings tax-free in retirement

User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
  • When changing jobs, don't forget about the money you've stashed in your former employer's 401(k) plan.

  • Savers can keep their old 401(k) account, roll funds into a new 401(k) or an IRA, or cash out.

  • Cashing out is rarely a good idea, as savers under age 59½ pay a 10 percent penalty on top of any taxes owed.

User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active

Sidney Pearce doesn’t buy into the hype that Millennials are financial flakes who would rather buy a Venti latte than invest in a retirement fund.

Search

Popular Posts

© Copyright 2017-2018. All Rights Reserved. Your Greatest Contribution. Designed by Lockett Consulting

Search