IRA vs. 401(k) – Key Rule Differences
The IRA and 401(k) accounts are 2 of the most used vehicles for retirement savings today. According to the Investment Company Institute, as of March 2016 Americans have saved $12.2 […]
Average 401(k) Balances Dip
From money.com After years of steady increases, retirement savings plans hit a downdraft. Source: Vanguard, How America Saves 2016 Last year the average 401(k) balance stood at $96,288, down from […]
Keep on Compounding
45 percent of people who switch jobs before age 59½ cash out on their retirement plans. Perhaps sometimes this is necessary, especially if the reason why you cashed out was […]
Beneficiary Planning for Retirement Accounts, Part II – Non-Spouse Beneficiaries
As I mentioned in my last blog, designating a beneficiary that is not your spouse for your retirement plan accounts introduces a more complex set of rules. Non-spouse beneficiaries are […]
Beneficiary Planning for Retirement Accounts, Part I – Leaving it to your Spouse
Completing and periodically reviewing beneficiary paperwork is the one of the most important administrative tasks a retirement plan participant can take. Overlooking this seemingly easy step can lead to the […]