A 401(k) plan is one way you can save money for retirement. Companies sponsor 401(k) plans for their employees who can save a certain amount of money annually based on their age and other IRS requirements. How do 401(k) plans work? How much money can you save in a 401(k) plan? Learn about 401(k) plans from these Think Glink stories, blog entries, videos and more.
This article was written by guest blogger Jeff Rose. You don’t need to be wealthy to be a successful investor. No matter what your objective, whether you’re investing for retirement or funding your child’s education, you can meet your money-saving goals and achieve financial success. Everyone yearns for stability and financial security, but very few [...]
Sometimes you may feel you no longer want to make your mortgage payments and just pay off your mortgage with other assets such as money in an IRA or 401(k) plan. But is it a good idea to pay off a mortgage with retirement money? If you're under 59 1/2, you'll have to pay extra taxes on the money that you withdraw from your IRA or 401(k).
Investing your money into a 401(k) is a great first step. But you also have to decide an investment strategy and know what your money is going into. Then you should monitor your investments and rebalance them as needed.
When you lose your job or get laid off you may have retirement money in a company account. When you no longer work for that company you likely have to move your money from a company IRA or 401(k) plan to another retirement vehicle such as a traditional IRA. How can you find the right rollover IRA to meet your needs?
When was the last time you looked at your 401(k) plan and whether you were taking maximum advantage of it? It's a good time of year for employees to look at their 401(k) plan and make some changes that could boost your investment returns next year and for many years to come. Except for wondering if they'll be able to retire at all, most employees don't spend more than a few minutes thinking about their 401(k).
The retirement age is going up and the cost of retiring is going up too. As many as three quarters of Americans do invest in their company sponsored 401(k) plans, but there are plenty of people who don't. The problem is, most of those who don't participate in 401(k) plans are in their 20's and they're the ones who would benefit most.
What should you consider when you're debating between a Roth IRA and a 401(k) plan? A Roth IRA and 401(k) plan differ in when the money you invest gets taxed. With a Roth IRA you're investing after-tax dollars whereas you invest pre-tax dollars in a 401(k). Roth IRA earnings are tax-free whereas 401(k) money gets taxed when you withdraw it.