Category: Retirement Accounts

How to Rollover Your 401(K)

April 29, 2022
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The first thing you’ll need to do is obtain the details of your new 401(k) plan. The human resources department should be able to tell you the account address. (It’s also worth asking them about the fund’s performance and cost so that you can compare it to your previous employer’s 401(k) plan.) You’ll then need…

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5 Types of Annuities

April 27, 2022
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Annuities may seem complex. In reality, they’re very straightforward—like a warm and delicious pizza. All variations of pizza contain the following basic structure; crust, sauce, cheese, and toppings. As for annuities, it’s nothing more than a contract between you and an insurance company. In exchange for premium payments, you’ll receive payments at a future date….

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What Is an RMD and How Will It Help You Retire?

April 25, 2022
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When it comes to your retirement, you did everything right to be ready. You developed a retirement plan that took into account your lifestyle, health care, and potential bumps in the road. And, you went ahead and created a budget to ensure that your retirement plan would come to fruition. Do you have everything ready…

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3 Types of IRAs

April 25, 2022
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Like 401(k) plans, IRAs can come in a range of different flavors. Savers have different ways to prepare for their futures based on the levels of their income and their tax liability. There are 3 different types of IRAs: Traditional IRA Roth IRA SEP IRA Today we break down the three different types of IRAs:…

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Backdoor Roth IRA’s, What You Should Know Before You Convert

April 16, 2022
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If you are considering a backdoor Roth IRA, chances are your income has put you over the threshold of making a direct contribution. So when you can’t just walk in the front door with your Roth money, what do you do? Luckily, there is another way for getting money in your Roth IRA, even when…

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4 Types of 401(k)

April 14, 2022
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So a 401(k) is a retirement fund available through an employer. The employer makes your contributions for you, and may offer to match some of your additional contributions. But there are a number of different kinds of 401(k) plan. Traditional 401(k) The traditional 401(k) takes advantage of a loophole in the law. It allows people…

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Social Security Benefits for Widows

April 14, 2022
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I’ve saved up some questions that are either from widows or from husbands or wives wondering about future widow’s benefits. Here are some of them. Q: I want to make sure my wife gets the highest widow’s benefits possible after I’m gone. How do I do that? A: If that’s your only goal with respect…

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The 90/10 Rule–Warren Buffett–#1 Money Savings Tip for Retirees

April 11, 2022
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Personally, I’m picky when it comes to receiving advice. For example, even if you’re my best friend or family member who I respect, I wouldn’t turn to you if I needed a root canal or engine replacement. Of course, if you were a dentist or mechanic, that would be a different story. The same is…

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The Ultimate Guide To Save Money 5: Retirement Funds

April 3, 2022
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Savings accounts, bonds, stocks, and real estate are all places in which you can put your savings so that they’ll be safe for the future. Any investment can go down as well as up but if you balance your savings portfolio carefully, you should find that its value grows over the years. Those savings, though,…

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