25% of whatever your employer has contributed belongs to you after you’ve been there one year, 50% belongs to you after two years, 75% belongs to you after three years, and they’re all yours once you hit your fourth work anniversary. (If you leave before then, they take back ...
Of course, you also have to set aside money (or do some part-time work, or pay some 401k early withdrawal penalties) to get you through the first five years while you are waiting for the first batch to finish “fermenting”. But it is still a definite loophole that can help you ...
The oldest rule for thinking about how to start investing money is also the simplest: “Buy low, sell high.” While it seems blindingly obvious and begs the question of why anyone would want to do anything else when investing, you might be surprised how hard it is to put into practice. ...
In any event, when you retire, you can roll your 401K into a Traditional IRA and have full control over it. Reply Ken May 3, 2014, 2:51 pm Mike is mostly correct about ‘substantially equal payments’, however you need to be careful to follow the rules since breaking them can get...
At the end of this exercise, you still may want to run some more sophisticated projections based on what-if scenarios, but at least you’ll know where you stand. And you’ll gain some insight into what you need to do in order tomake your nest egg last longer. Let’s get to work....
There's nothing better than being free to do whatever you want. However, unless you're born with a multi-million dollar trust fund, you'll unfortunately have to work for your freedom. This article will discuss how you can retire early and never have to work again. You can follow my ...
To purchase an annuity, an investor makes a lump sum payment to the annuity firm, and in return, receives regular payments for the rest of his or her life. Annuities can alsobe purchased through the Thrift Savings Plan, and through some other organizations. Please do your research before buy...
And how some travel way more than I even want to do. I’m probably in the middle between the “old guys” who seem to be very dedicated to their work and company and the young FIRE guys who seem to not care at all. I would count 55 as retiring “early” , since most don’t ...
Yes I do thank goodness! My pension amount is/will provide a significant amount to live off during retirement. Drats, no I don't. It's all up to me to contribute to my 401k, IRA, and after-tax investment accounts I've got such a weak pension that I almost wouldn't consider it ...
Back Door Roth: One point that I think should be stressed here is that if you do this, you are taxed on the weighted avg of ALL of your traditional IRAs so if you have some existing traditional IRAs (let’s say from previous 401k rollovers) then you will be taxed. You can’t just...