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All posts tagged "401k"

  • Proposed Trump Regulation Rollback Should Scare Even Supporters

    The Trump administration has been vigorous in wanting to cut regulations. That’s not always a bad thing. But this suggested change really caught my eye. President Trump has signed a memorandum which clears the way to eliminate...

    • Posted February 7, 2017
    • 1
  • Should We Take Money Out of Retirement to Pay Off Mortgage?

    Question: Dear Steve, I am 63 years old. Retired. 401 $300,000 + plus pension & SS. Wife 62 retired drawing SS small 401 $45,000. We are retired and need to have more disposable income. We only owe...

    • Posted May 26, 2015
    • 1
  • Are My Retirement Funds Safe From Creditors?

    Q. I understand that in certain circumstances IRA and 401(k) money may be protected from a lawsuit. However, if a person is retired and has rolled over their ERISA plan to an account with a financial institution,...

    • Posted April 13, 2015
    • 0
  • The Great Illusion of Retirement Savings

    The nation is facing a looming retirement income crisis. Average retirees today are not well off. Tomorrow’s average senior is likely to be in worse shape. Instead of addressing this looming crisis, too many of the nation’s...

    • Posted March 18, 2015
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  • Should You Ever Tap Into Your 401K?

    Saving for retirement isn’t easy. It’s hard to forgo things now to plan for some distant day in the future. But whether you want to see the world or play golf in your backyard, if you want to...

    • Posted March 9, 2015
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  • 5 Ways to Boost Your Retirement Savings

    Even if you haven’t yet entered the working world, you can probably assume you will want to retire and some point. While most Americans have similar goals for a debt-free, affordable post-working life, you might not realize...

    • Posted March 4, 2015
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  • 401(k) Limit Updates Worth Knowing for 2015

    Every year someone asks me how much they can actually contribute to their 401(k). There seems to be a ton of confusion. Some 401(k) participants seem to think it’s a percentage. They are confused by the match...

    • Posted February 17, 2015
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  • Reduce Your Spending and Save More. Now.

    Here’s some good news. Fidelity Investments recently reported that the number of 401(k) millionaires on their books has doubled over the past two years. Specifically, they went from 34,920 accounts with million-dollar balances to, as of the...

    • Posted February 14, 2015
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  • Should I Take Money Out of My Retirement Account to Pay for a Move? – Sam

    “Dear Steve, My wife and I paid off our debts and we don’t want to go there again. I recently found a better job but it is going to involve significant upfront expenses in terms of move...

    • Posted January 18, 2013
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  • Many Draining Retirement Accounts Rather Than Deal With Debt

    I’m not sure how many times I can say it, don’t drain your retirement assets to pay debt. It’s a bad idea on so many levels. In a couple of posts I even talk about the long...

    • Posted January 16, 2013
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  • How to Borrow From a 401k in a Make Sense Way

    Borrowing from a 401k is a major decision. It is important you make certain considerations before borrowing from your 401k, so that your loan doesn’t negatively impact your retirement. The key aspect to borrowing from a 401k...

    • Posted September 19, 2012
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  • Should I Roll Over My 403(b) to My 401(k)? – Salvador

    5 years in present employer.with GREAT 401k retirement plan … 2 years in previous one with so so plan worked at a place for 2 years with a 403 b retirement plan… there are $2100, right now...

    • Posted July 18, 2012
    • 1
  • Should I Drain My 401K So I Can Pay Off Debt And Retire? – Cathy

    “Dear Steve, I am 65 yrs old, still working and my husband 71, retired. Our income is $51k (me), and my husband’s SS benefit of $10k. I used to have $250k Line of Credit/ c card debt....

    • Posted July 3, 2012
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  • Should I Take Out a Loan from My 401k to Payoff Credit Cards? – Terry

    Income 70K Debt $300,000 mortage 4.5% fixed Debt $4,000 Student loan 4.5% Debt $5,000 Student loan 6.5% Debt $5,000 Student loan 6.0% Debt $5,000 Credit Card 10.2% 401K $11,000 Should I take out a loan of $5,000...

    • Posted March 29, 2012
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  • I’ve Got a 401(k) Just Sitting Stagnant. – Steve

    “Dear Steve, I am a state employee and am fully vested in the state’s pension plan. My job is secure and I will be able to retire with a full pension. I also have an older 401k...

    • Posted March 5, 2012
    • 0