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...
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...
Best Places to Retire Overseas in 2023 View All 13 Slides Updated on April 7, 2023: This story was published at an earlier date and has been updated with new information. Tags: retirement, money, 401(k)s, IRAs The Best Financial Tools for You Credit Cards Best Credit Cards Find the Bes...
As a federal employee you have lots of ways to ensure your money doesn’t croak before you do. Strong Foundation Federal employees are starting way ahead of most people when it comes to retirement. FERS federal employees get social security and a pension. Both of which get COLAs (cost of ...
Of course, $1 million in retirement may not be the right amount for everyone. An oft-cited rule of thumb — known as the4% rule— indicates a typical retiree can draw about $40,000 a year from a $1 million nest egg in order to safely assume they won't run out of money in retir...
because you still want to grow your money even when you retire," said Ken Hevert, senior vice president of retirement at Fidelity. "That is one thing that we talk to customers quite a bit about. They do want to make sure that they are utilizing the different accounts that they have in...
the loan balance increases with the understanding the mortgage will one day be paid off, usually by selling the home, providing the homeowner more flexibility and comfort during retirement. Meanwhile, homeowners receive money from their homes in the form of a lump sum payment or line of credit ...
Your retirement plan should be changed after a divorce to reflect your personal goals, preferences and assets. A qualified domestic relations order is needed if you are to receive any money from your spouse’s workplace retirement plan. Divorced spouses can receive spousal benefits from Social Secu...
into your retirement fund.Putting together a budgetcan help you with this process. It’s a great way to make sure your money is being used wisely. Remember that the earlier you start, the more time your savings have to increase through what experts call “the magic of compound interest.”...
Asset allocationis the amount of each asset class you own, whether it be stocks, bonds, orcash equivalents, such as money market funds. Lessen your exposure to riskier holdings likesmall-capstocks as you get closer to retirement. These securities tend to be more volatile than high-grade bonds...