Quick – what’s the earliest age you can withdraw money from a retirement account without paying a penalty? Is it 59½? Well, if that was your answer, you are probably in the majority. That’s the general ov
you may consider setting up an after-tax Roth account, where you pay your taxes sooner rather than later. When you take distributions out in retirement, you will owe no tax, as you have already paid it when you put the money into your account. ...
Profit-sharing plans are retirement plans built around giving employees a percentage of the year's profits; as of 2010, the maximum annual contribution is 25 percent of an employee's salary or $49,000, whichever is less. Like most retirement plans, the money placed in a profit-sharing plan...