Category Archives: Retirement Planning

Top 10 Things To Know About Self Employed Retirement

Self Employed RetirementBeing our own boss, setting your own schedule and calling all the shots are benefits of owning your own business and being self-employed. There are many challenges, however, associated with self-employment. The small list indicates that you are in charge of every aspect of your business; you have to find new customers, take care of marketing

IRA vs 401K – Is One of The Plans Really Better Than The Other?

IRA vs 401KThere are two distinct retirement plans that can give you a return on your investment and an income for the future. One is an IRA and the other is a 401K. Both have benefits for savers, but there are also differences. When discussing the advantages of an IRA vs 401K plans, look to maximum contribution limits, individual vs employer plans

401K Withdrawal Rules – Why Is It Better To Leave Plan Alone?

401K Withdrawal RulesEmployers generally administer and provide 401K plans for their employees. Workers normally contribute their own money into the 401Ks to provide for retirement and matching funds are contributed by employers at a predetermined amount of the employee’s income.401K rules can be confusing, but it is important for employees to understand

Should I Consider Opening 401K For Small Business?

Small Business 401kSmall business 401K plans can be powerful tools in recruiting and retaining potentially good employees. 401K plans provide financial security for retirement and are listed as one of the top benefits employees seek. You need to consider providing 401K retirement plans for your employees even if you are a small company.

401K and Divorce – What Are The Rules?

401K and DivorceThe state where divorcing couples reside will determine the property allocation laws and joint marital property. Many states’ legislation allows ex-spouses to keep property they used to own before their marriage, but after marriage any jointly owned accounts are divided under set rules. This includes 401k accounts that list the spouse as beneficiary.

Vanguard Retirement Savings Trust – Safe Investment or Not?

Vanguard Retirement Savings TrustIs the Vanguard retirement savings trust a safe investment or a bad idea for most investors? Most financial experts have given the trust a good review and rating but this choice is not right for everyone. This investment choice may be perfect for many small business retirement plans and utilizes a strategy designed to minimize risks

Average Retirement Savings By Age

Average Retirement Savings By AgeThe average retirement savings by age has declined in the last decade or so and there have been many reasons given for the decline. In the last decade consumer purchases and domestic spending have been down and that tells us that consumers are not confident about the financial state of affairs and are less likely to have additional money.

Average American Retirement Savings – How Am I Compared To Others?

Average American Retirement SavingsWhen it comes to the average American retirement savings how do you compare with others? Comparing your retirement savings with the average amount saved for your age group can help show you exactly where you rank in this area. If you are in your 20s then the average savings achieved are between $6,759 and $52,268

Average Retirement Savings – Baby Boomers vs Next Generations

Average Retirement SavingsThe average retirement savings for baby boomers and the following generations show some surprising statistics. Baby boomers are over 45 but have not yet reached 65 years old and retirement age. This is the generation that will start retiring within the next decade, and the average American retirement savings in this age group

Small Business Retirement Plans Comparison

Small Business Retirement PlansThere are several options when it comes to small business retirement plans, and each of these must be compared and evaluated before you can determine which plan is best for your specific business and employee needs. There are 401ks, SEP IRAs, Solo and individual 401ks, SIMPLE IRAs, Roth IRAs, Profit Sharing plans, defined benefit plans, pensions, and other options.

Stretch IRA Rules

Stretch IRAWhat are the stretch IRA rules that you should know about? This type of retirement plan is considered one of the best IRA accounts for many because of the benefits offered. This type of account can be handed down from one generation to the next with careful planning, and that is a feature that many investors appreciate.

Keogh Retirement Plan Rules vs Other Retirement Plans

Keogh Retirement PlanThe rules with a Keogh retirement plan may offer more advantages when compared with other types of retirement plans. Early retirement planning should include evaluating the different types of retirement accounts available, and then deciding which plan type works best with your circumstances and situation. One benefit is that these plans can be very effective tax shelters

Supplemental Executive Retirement Plan and Taxes Review

Supplemental Executive Retirement PlanWhat is a supplemental executive retirement plan, and what are the tax consequences for this type of plan? This is one of the available account types that can be used for retirement planning purposes, and there are both benefits and disadvantages with these plans. The goal is to provide additional compensation for valued employees, to retain them and their talents.