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Retirement
60 Day Rollover Rule – What You Need to Know
If you have a retirement account set up and you’re making regular contributions, that’s great! There may come a time when you need to move these retirement savings from one account to another, and there are rules that come with this transaction. A common reason that people initiate a rollover is because they are changing […]
5 Ways a Roth IRA Can Help Minimize Your Taxes in Retirement
1. Tax-Free Withdrawals Money that goes into a Roth IRA is after-tax dollars. Because you’ve already paid taxes on that money, once it is withdrawn, it comes out tax-free. There are some restrictions on those withdrawals if you want to avoid penalties and taxes. But keep in mind, you can withdraw your contribution at any […]
Spotting Credit Trouble
American households with credit card balances carry an average debt of $8,602.1 The wise use of credit is a critical skill in today’s world. Used unwisely, credit can rapidly turn from a useful tool to a crippling burden. There are a number of warning signs that you may be approaching credit problems: Have you used […]
How Much are you Contributing to Your Retirement?
Do you know what the contribution limits are for your specific type of retirement account? Knowing these limits will help you make the maximum contributions without exceeding those limits and get penalized for over contributing. Making the maximum contribution allows you to save as much money in your retirement account before you get to retirement […]
How Retirement Spending Changes with Time
New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern may be legitimate. Some households “live it up” and spend more than they anticipate as retirement starts to unfold. In 10 or 20 years, though, they may not spend […]
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