Why Your Retirement Savings Should Be On Lockdown
As a young writer, the author received this piece of advice: “Listen to me,” she said. “The one thing you don’t want to do is treat your retirement accounts like an emergency fund. Once you put the money in there, pretend it doesn’t exist until you’re ready to stop working.” Read why it changed the way the author viewed and treated her 401(k) savings plan, from Tara Mastroeni, here.
Roth IRA Conversions Can Deliver Some Hidden Benefits
Roth IRAs can be an appealing option for retirement savings; NOW may be a great time to consider making the move to a Roth. Read more from Sarah O’Brien to learn why.
Deadline For Funding 401(k) Deferrals!
Many employers think the deadline for depositing a 401(k) contribution is the 15th business day of the month after they withheld the contribution from an employee’s wages.
That is not correct, though. Employers who wait until the 15th day of the following month to deposit deferrals might find out that they owe a penalty, among other unpleasant consequences. Read More »
Thinking About Buying a Home?
If you’re raiding your 401(k) for the down payment, you’re probably not ready. There are better ways to do it. “Millennials are so eager to become homeowners that some may be inadvertently cutting off their nose to spite their face,” one expert said. “With careful financial planning, millennials can have it all — the dream home today, without compromising their retirement security tomorrow.”
Read more here.
In Your 50s and Just Now Thinking About Retirement Savings?
Don’t feel bad; you’re not alone. According to a recent study from the Employee Benefit Research Institute “more than a third of those between the ages of 45 and 54 who answered said they had less than $25,000 saved,”
But now it’s time to get focused. Check out these 3 ways to recover from a late start on retirement planning. Read more from Walter Updegrave here.
The ABC’s of Your 401(k)
Starting out on you career? The best time to start saving for retirement is now! Read more here.
