Covid 19: New 401k Rules Under the CARES Act
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).
Tag: 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.
The Money Coach’s Strategy to Build Wealth
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 ...
401(k) Contribution Limits Increase for 2013; What You Must Know
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; ...
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 ...
Should You Start a 401(k) After Age 60?
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) ...
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 ...
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 ...
Should I Pay off a Few Credit Cards Using My 401(k)?
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 ...
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 ...
How Much Should a Single Mom Save?
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 ...