penalty free, for education expenses as well as for a first-time home purchase ($10,000 limit). You still pay income taxes but this is a nice option you don’t have with a 401(k).
You can also use Fidelity's online RMD calculator to get an idea of your RMD for the year. Do you take an RMD from each account? If you own one IRA or 403(b), you'll take your distribution from that account or contract. However, if you have numerous IRAs or 403(b)s, you nee...
generally up to 50 percent of the account value.Fidelityreports that a loan is not considered a distribution, so you will not have to pay taxes or penalties on the loan, but you will have to maintain a repayment schedule, as with any other loan. With a 401(k) loan...
We are in kind of blue water. I know people that always say to me and some of the intelligent people on my podcast,Fun With Annuities®, interest rates have to go up. I don't think so. We are in a different time period where we've painted ourselves into a corner. So, interest...
What do you do with a rollover check? Assuming you have the rollover account set up and ready to receive the funds from the 401(k), the check should be made out to the IRAcustodian— i.e., say Schwab, Fidelity Investments or another investment manager — for the benefit of you. In ...
Hey, Stan The Annuity Man here, America's annuity agent, licensed in all 50 states, number one educator out here, and I do sell annuities if they're appropriate and suitable. The question you have, which is a question that should be asked more often, is
Although we love our current house, I look forward to a smaller home. Ideally, in 3 years we will downsize to a home that we can purchase outright with the equity we have in this home. Both kids out of the house with jobs and health insurance. ...
Of course, there are always ups and downs, and you could lose money in the short term. But if you’re patient and stick with it for the long haul, stocks have the potential to make you a lot of money. 2. Mutual Funds Mutual fundsare another popular investment among millionaires. Why...
What to Do with Your 457 After Leaving a Job 457 b Rollover What you do with your 457(b) after you quit, retire, or are fired depends heavily on whether it is a governmental or non-governmental 457(b). If it is a governmental plan, you have all kinds of options. You can ...
These numbers are based on astudy done by Fidelity. The numbers they came up with are a little less than these, meaning they suggest you should have saved less money. But I want to make sure I never run out of money in retirement, so I want to save more than what they came up wit...