Consider a 401(k) There are two primary retirement account options: the 401(k) and the IRA. When you start a new job, you may have the option to sign up for the company's 401(k) plan. Or you may find that you're automatically enrolled. Just make sure that a 401(k) is at ...
Feldman, A. " Can This New 401(k) Save Retirement?, " Business Week, Feb. 16, 2009.Feldman, A. “Can This New 401(k) Save Retirement?,” Business Week, Feb. 16, 2009.Feldman, A., " Can This New 401(k) Save Retirement? ". BusinessWeek. Feb. 16, 2009, Issue 4119, pp. 61...
Also, you can contribute toa Roth TSPwith after-tax earnings, so that’s something to bear in mind too. In addition, you may want to explore getting anindividual retirement account (IRA). Having a 401(k) or TSP does not prevent you from having an IRA, so you should consider opening o...
If you choose to fund a traditional IRA, you can effectively lower your tax liability and put yourself into a lowertax brackettoday. That's because these accounts are funded using pre-tax dollars. If you fund a Roth IRA after retirement, you can allow your savings to grow tax-free because...
Doing so will let you be paid as an independent contractor, freeing you to set up your own company. Then, you could establish a retirement plan — such as a SEP IRA, a one-person 401(k) or even a pension plan, depending on your income — as a self-employed individual. ...
But this tax-efficient savings vehicle can also be used as a powerful tool for retirement savings. An HSA offers triple tax savings,1 where you can contribute pre-tax dollars, pay no taxes on earnings, and withdraw the money tax-free now or in retirement to pay for qualified medical ...
You have several options to save for retirement when you’re self-employed with or without employees. In addition to a traditional IRA and Roth IRA (depending on your income), a couple of excellent options are a SEP-IRA and a solo 401(k). ...
You can roll over your IRA, 401(k), 403(b), or lump sum pension payment into an annuity tax-free.
your retirement plans from which you received a distribution. You can report the totals directly in your account when youprepare your return on efile.com. We will guide you through the process, create the correct forms, check them for errors, and help you e-file them with your tax return....
If you have a workplace retirement plan like a 401(k) plan, experts say it's wise to invest at least up to the company match. For example, if you contribute 5% of your salary, your employer may also put in 5%. While terms may vary by employer, that's free money you don't ...