401(K)

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.

Cryptocurrency Investments As A Future Retirement Plan

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 …

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5 Effective Ways to Lower Your 401(k) Fees

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 …

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Withdrawal from a 401(k)

Want to Make A Withdrawal From Your 401(k) to Pay Bills? Think Again!

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 …

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Should I Use My 401(k) Money To Pay My Child’s College Tuition?

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. …

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401(k) losing money

How Your 401(k) Plan Is Costing You Money

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 …

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investing

Why It’s Never Too Late to Start Investing

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 …

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