A 401(k) is a feature of a qualified profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts.
Cryptocurrencies have proved to be a game-changer in the investment industry. Millions of people have been investing in cryptocurrencies for the last two years. Today, millennials and Generation Z are heading towards investing in digital currency because of their huge earning potential. Investing in cryptocurrencies is a great way to secure your retirement future. In […]
Cryptocurrency Investments As A Future Retirement Plan Read More »
If you’re like most people, you know that saving for retirement is essential. But do you know how much money your 401(k) fees may be eating up? The average American has $93,400 in their 401(k) balance when they reach age 50, but these high fees may substantially diminish the amount of savings. In this blog post, we’ll
5 Effective Ways to Lower Your 401(k) Fees Read More »
If the coronavirus crisis has left you short of cash, you should know about some legislation the Fed’s just passed, to make it easier for you to tap into your 401(k).
Covid 19: New 401k Rules Under the CARES Act Read More »
Spending money wisely, saving cash and investing can all help build wealth – as well as bring you greater personal happiness. As I prepare for continued wealth building in 2020 and into the next decade, I wanted to share a dozen ways that my husband, Earl, and I spent strategically, invested and built wealth in
The Money Coach’s Strategy to Build Wealth Read More »
If you’ve got a 401(k) or a similar retirement plan, you can start socking away more money for your Golden Years starting in 2013. The IRS says it’s increasing the tax-free contribution limit for retirement plans to $17,500 for 2013; that’s up $500 from a limit of $17,000 in 2012.
401(k) Contribution Limits Increase for 2013; What You Must Know Read More »
Amid the tough economy, lots of people have tapped into their 401(k) plans or their Individual Retirement Accounts (IRAs) as a way to get money to pay their bills. Although a withdrawal from a 401(k) plan probably offered a short-term cash cushion, but it also has long-term tax consequences, particularly for those who were under
Want to Make A Withdrawal From Your 401(k) to Pay Bills? Think Again! Read More »
A reader of AskTheMoneyCoach.com wanted to know whether or not it’s a smart decision for them to launch a 401(k) or 403(b) investment plan later in life. The person asked me simply: Q: “Should I start a 401(k) or 403(b) investment plan at 63 years of age?” A: Yes! Actually, I think it can be
Should You Start a 401(k) After Age 60? Read More »
Q: To finish college, our son will need an additional $20,000 for his final two years. We are thinking of using some of our 401(k) money. My husband will be almost 60 by then, so no penalty. With our social security plus my husband’s pension, our income will be close to his present working income.
Should I Use My 401(k) Money To Pay My Child’s College Tuition? Read More »
A 401(k) plan has lots of fees, and savvy investors may be aware of various investment-related charges – such as a management fee to a mutual fund manager’s or the sales commission paid when making a transaction. What most people don’t know, however, is that 401(k) plans also include several other hidden fees that can
How Your 401(k) Plan Is Costing You Money Read More »
I’m 61 and Plan to Retire at Age 62, Though I Would Work Until 65 If needed. I would Like to Pay off a Few Credit Cards Using My 401(k). Is This a Wise Choice? I Have About $10,000 in Credit Card Debt.
Should I Pay off a Few Credit Cards Using My 401(k)? Read More »
Q: I am 26 and behind in the investing game. My bank offers a Roth IRA and i’m going with that. I was thinking about going with Edward Jones for a 401(k). Is this a good idea? A: Congratulations on getting started investing. You’re not too late to the investing game: you’re right on time. A
Why It’s Never Too Late to Start Investing Read More »
Q: I am a single mom who makes about $28,000 a year. I try to save around $200 from my paycheck every second pay period each month, but it’s hard. Do you think $200 is enough? And if I want to save more where should I start? A: Even though $200 a month in savings might
How Much Should a Single Mom Save? Read More »
