If you’ve been maxing out your employer-sponsored 401(k) plan, a Solo 401(k), or any other tax-advantaged retirement plan, you’re doing way better than the vast majority of workers. After all, the average retirement savings by age is absolutely paltry with most workers under the age of 35 having barely $6,000 in savings. By contrast, individuals […]
The post 9 Financial Moves After a Maxed Out 401k appeared first on Good Financial Cents®.
The Roth IRA is a popular retirement account, and it’s incredibly easy to see why. Yes, you have to invest in this account with after-tax dollars, but your money grows tax-free and you don’t have to pay income taxes later on. In case you missed that: TAX-FREE MONEY!! You can also open a Roth IRA […]
The post 7 Roth IRA Secrets Youâll Wish You Knew Sooner appeared first on Good Financial Cents®.
The SECURE 2.0 Act, signed by President Biden in December 2022, includes dozens of changes to provisions related to tax-advantaged retirement accounts. Among the most important changes is a provision, which took effect Jan. 1 of this year, that delays ⦠Continue reading â
The post Your Required Minimum Distributions (RMDs) Have Officially Been Pushed Back appeared first on SmartAsset Blog.
Hereâs what to do as you transition from contributions to distributions.
The post Planning retirement distributions: Consider opportunities and tradeâoffs appeared first on Discover Bank – Banking Topics Blog.
There are multiple varieties of individual retirement accounts or IRAs, for short. Two available versions are the SEP-IRA and the Roth IRA. So, what are they? And, can you choose to have one or the other? â or even both? In fact, a reader submitted this exact question: “I have a question about the SEP […]
The post SEP IRA vs. Roth IRA: What’s the difference? appeared first on Good Financial Cents®.
Opening a Roth IRA is a tax-smart way to save for retirement, but which company deserves your business? Get expert advice on the top investment firms now.
The post 10 Best Places To Open A Roth IRA in 2023 appeared first on Good Financial Cents®.
Data from the Federal Reserve shows that the average savings in the United States at retirement age is just $255,200. So if you find yourself with $400,000 in assets at retirement age, congratulations! Youâre doing much better than average. But how ⦠Continue reading â
The post How Long Will $400k Last in Retirement? appeared first on SmartAsset Blog.
Whether youâre retiring soon or just starting out, an IRA is a great place to save.
The post IRAs: Save for a secure future appeared first on Discover Bank – Banking Topics Blog.
Financial bloggers often portray the traditional IRA vs. the 401(k) plan as a debate, as if one plan is better than the other. In truth, theyâre very different plans, and they fill very different needs. If you can, you should plan to have both. This is especially true if your 401(k) plan is fairly restrictive. […]
The post The Traditional IRA vs. the 401(k) Plan – Which Plan Wins? appeared first on Good Financial Cents®.
Financial bloggers often portray the traditional IRA vs. the 401(k) plan as a debate, as if one plan is better than the other. In truth, theyâre very different plans, and they fill very different needs. If you can, you should plan to have both. This is especially true if your 401(k) plan is fairly restrictive. […]
The post The Traditional IRA vs. the 401(k) Plan – Which Plan Wins? appeared first on Good Financial Cents®.