Can’t take a loan– I wouldn’t say this is a great option anyway, but there may be times when it’s necessary. A rollover IRA doesn’t havethe option to take out a loan while a 401(k) may. Your 401(k) may be in old company’s stock– If part of your 401(k) is in you...
4 out of 10 terminated participants cashed out the entire balance of their 401(k) account. The share who cashed out rose to 80% for those who had balances under $1,000 and over 50% for terminated participants with balances up to $10,000. ...
First-time annuity buyers often ask this question: "If I change my mind can I cancel my annuity and get my money back?"A variation would be: "If I needed money for an emergency could I close my annuity and get some or all of my premium back?"The...
I had only started maxing out my 401K when I got my first 6-figure job in 2001. My divorce had taken a financial toll on me. And we had spent a ton on travel, thinking Nick’s death was imminent. We had run up credit card debt. My 401K sat at $350,000, and I had $80,000...
Pay More Than the Minimum: Even if you aren’t able to pay off the entire balance each month, you should always make an attempt to pay more than the minimum payment. Creditors will track your payment history which include both the amount & payment frequency. Monitor Your Score: Free servic...
As I sat in church Sunday I focused on not touching my face. For an entire hour. It was exhausting. I didn’t hear a word of the homily. The more I tried not to touch my face, the more I wanted to do it...
My wife is a therapist who reasonably expects to be employed by a nonprofit or the government for at least the next ten years, if not her entire career. NOT looking into whether PSLF would benefit us would be a mistake. My wife’s loans are currently on the REPAYE income-driven repaymen...
but it’s something you can work with if you know your statistics. But there’s a catch. Let’s look at how the 10+35+11=56 observations are distributed over time. In the chart below, I plot the entire SWR time series for the 30/20/50 asset allocation and I mark in blue, green...
If you have student loans and you like what I’m saying, or you know someone who could benefit from strategically repaying their student loans, please check out my bookStudent Loan Solution: 5 Steps to Take Control of Your Student Loans and Financial Life. ...
It is time to act. Perhaps I am a bit idealistic, but the problem seems to have a simple solution. American workers have a 401K which enables them to save with tax advantages for retirement. Horses need the equivalent – a “401Neigh.” The concept is the same – a vehicle for systema...