The 401(k) is one of the best tools you have in your savings arsenal. It allows you to contribute money directly from your paycheck. Don’t worry if your company doesn’t offer a 401(k), they might offer a different type of retirement account that’s just as good such as a SEP, SIMPLE, 403(b), or 457 account.…
Read MoreDon’t Kill The Chicken So I’m 15 minutes into an explanation of what I think is a pretty important and complicated subject when my client stops me mid-sentence. She says, “So basically, don’t kill the chicken.” I pause. I pause some more. She looks at me like I’m an idiot, and I look at her…
Read MoreDo you know what would be really cool? If we had just one kind of retirement account with simple rules for putting money in and taking it out. Keep dreaming! We don’t. We have so many different kinds of retirement accounts – all with crazy ridiculous rules, half of which you wouldn’t even believe if…
Read MoreStocks have been the focus over the past couple of months. When you hear about the “market,” they are referring to the stock market. When they discuss that the “futures are up” or the “futures are down,” they are talking about stocks. Everybody wants to talk about stocks, but there is another type of investment…
Read MoreWe’ve seen strong gains in the last few weeks from the March 23 low. The questions on many investors’ minds are why and will it last. There is a divergence between the reality of today (e.g., virus spread, lock-downs in many states, record unemployment claims, greatly reduced corporate earnings, rise in bankruptcies, etc.) and what…
Read MoreWhat happens if the market is volatile when you retire? Today’s podcast episode discusses a major problem with the 4% rule that all retirement savers and soon-to-be retirees need to be aware of. Listen now and read my latest column on Forbes for more details on the 4% rule.
Read MoreI am very proud to announce that after nearly four years of long nights and weekends, I have successfully earned a PhD in financial and retirement planning from the American College. It’s been quite a journey! My dissertation is titled Role of Parent-Provided Financial Education on Financial Beliefs, Financial Behaviors & Financial Satisfaction. If you…
Read MoreAccording to the Employee Benefits Research Institute’s (EBRI) 2018 Retirement Confidence Survey, American workers have both a vital—and pressing—need to prepare better for retirement. Nearly 8-in-10 American workers have less than $250,000 set aside for retirement. And 60 percent of American workers have not crunched the numbers on how much they’ll need to live on…
Read MoreYour child’s future success might encourage you to pull out all of the stops when it comes to funding their education, but you still need to take care of yourself. Saving for retirement or your child’s education is an ongoing debate many parents face throughout their lives, but it’s important to strike a balance between…
Read MoreIf you receive a distribution from your IRA or workplace retirement plan, what will you do with it? You will probably want to arrange an IRA rollover – a common and useful financial move designed to take these invested assets from one retirement account to another, without tax consequences. The I.R.S. may give you just…
Read More