Generally, if we’ve been in employment for many years and the retirement plan has been vested, we’re not going to forget about it. However, no matter how low the amount accumulated, it is money that belongs to us and to which we are entitled. When communicating with the company, we...
If you want a secure financial future, maxing out a tax-advantaged retirement account as early and as often as possible is the secret. But many people don’t realize you can have multiple retirement accounts. You can sock away even more money if you follow the rules for each type of acc...
Decide what to do next. Decide When to Start Social Security You're eligible to claim Social Security payments beginning at age 62. However, you will receive a reduced payment unless you begin collecting benefits at your full retirement age, which varies depending on when you were born. For ...
It can be easy to divert the money you should be saving for retirement to other financial goals. Whether you become unemployed and need to pay the bills, or an unexpected expense arises, life can get in the way of your retirement savings goals. (By the way, these are all goodreasons wh...
Some people think it is more important to spend public money on roads and motorways than on public transport systems such as railways and trams. To what extent do you agree or disagree? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write...
Another type of retirement plan is the defined-benefit plan. This is also sometimes referred to as a pension plan. With this type of retirement plan, you have to work a specified number of years in order to receive a particular benefit. Each plan is different, and your employer will give...
How to protect your retirement money. (cover story)Discusses ways to protect retirement financial security. Elimination of government-guaranteed pensions; New types of company retirement plans; Biggest threats to retirement security; How to analyze company retirement plans; Pension; Savings; Stocks; ...
With a Roth IRA, the contributions are made with after-tax dollars, and the withdrawals in retirement are generally not subject to income tax. You can also make contributions to a health savings account and claim a tax deduction for that year. The money can grow tax-free and be taken out...
you can safely withdraw from a retirement account. If you withdraw 4% the first year and then the same amount every year after that (adjusted forinflation), it's very unlikely that you will run out of money within 30 years—which is enough for a typical retirement. So say you have $1...
Simply put, the more money you squirrel away, the better position you'll be in should abear marketarise. This may sound simple, but too many retirees overspend in retirement, which leads to poor investment decisions that are made out of desperation. ...