The good news is that you don’t always have to save for your retirement in cold hard cash. You can also choose to put your money in investments, insurance plans and retirement plans, which allow your money to work for you, or at the very least, keep up with inflation rates. For Ho...
Okay, maybe you’ve been too busy enjoying life to start thinking about retirement. But it’s never too soon, or too late, to start planning financially for your future. Start making personal contributions to your CPF and consider participating in the CPFIS when you have the necessary funds ...
Here are some important points to keep in mind as you enter the decumulation phase of retirement. Avoid the Early Withdrawal Penalty Withdrawing early from your individual retirement account or 401(k) can trigger substantial penalties. For IRAs, if you withdraw funds before you turn 59 1/2, yo...
The couple had been putting aside 10% of every paycheck they received. They have about $1 million in retirement savings, but want to double that in order to be able to retire comfortably. While they were deemed an "essential business" during the crisis, they haven't been able to star...
MY RETIREMENT PLAN? HOW CAN I KEEP MY RETIREMENT PLAN?HOW CAN I KEEP MY RETIREMENT PLAN?The article presents an answer to a question on setting up a retirement plan that would comply with a new law that requires separate custodians in the U.S....
You might choose to roll over the 401(k) plan. In this case, the balance in the 401(k) plan will be moved to a 401(k) plan at your new employer or an individual retirement account. “While an old 401(k) can sometimes be rolled over into your 401(k) with a new employer, the...
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Keep taxes and penalties in mind if you are considering withdrawing money from your retirement accounts. Plan for healthcare costs in retirement, pay off debt and delay Social Security until age 70 to help maximize your benefits. 1. Quitting Your Job ...
The single greatest worry of anyone planning for retirement is probably the fear of outliving your savings. No matter how much money you sock away in your 401(k) or your IRAs, you worry that it might not be enough. One possible solution is to focus your portfolio on dividend-paying stock...