Have you noticed how much your 40l(k) plan has grown over the years? There’s now nearly $11 trillion in these retirement plans – boosted by years of continuous investing in a bull market, and by employer matching contributions. And now as boomer retire, more than $1 trillion every year is “up for grabs” as 40l(k) […]
If you have several IRAs or leftover 401(k) plans from previous employers, this is a perfect time to consolidate them in one IRA rollover account. Not only will this simplify your financial recorded-keeping, but it will create an opportunity to access one of the best and safest investment opportunities for your money. So don’t let […]
You worked so hard to accumulate all that money in your 40lk plan. And a huge bull market helped. But when you retire or move to a new job you might be much better off doing an IRA Rollover. The best reason to do a rollover is that the investment choices in 40l(k) plans — […]
Whether your retiring and rolling over your 40l(k) or just starting to build your financial future, it pays to get trusted financial advice. The key word here is “trusted”! There’s plenty of financial advice around, but does it come from someone who is “on your side” – working to build your retirement – not theirs? […]
What’s inside your retirement plan? That’s a question every boomer should be asking these days, according to Ron Surz, of Target Date Solutions and the Baby Boomers in Jeopardy newsletter. Surz has patented a “safe glide” strategy that he says will better protect retirees from the risks inherent in most Target Date Funds. For two […]
The most unexpected and costly expense of retirement is the need to pay for long term custodial care – a burden that is not covered by Medicare or supplements. No one wants to think about needing help to eat or shower or do the basic activities of daily living. But you ignore the possibility at […]
U.S. Treasury Bill interest rates are still mostly higher than the comparable bank CDs. As of July 31 2024, the yield on a 13 week (3 month)T-bill is 5.27%, and on a 26 week (6-month) Treasury bill is 5.11%. That’s what you received if you participated in the weekly T-bill auction described below. It’s easy […]
If you have a retirement account – and IRA, 40l(k), 403(b) or other “qualified” retirement account — and you are, or have have reached, the age of 73 this calendar year, it is time to calculate and withdraw your Required Minimum Distribution or RMD. It’s actually a very simple process, but failure to calculate the […]
Congress gave American workers a last minute holiday gift – a set of new incentives to save more for retirement. Passed just before Congress adjourned, as part of the huge Omnibus spending bill, the Secure Act 2.0 increases limits on many retirement plans and creates a few new opportunities for workers to become more financially […]
It’s time to start thinking about RMDs – those Required Minimum Distributions that you must take from your retirement plans every year, once you reach age 72. Of course, those withdrawals can be made at any time of the year – but many people leave it to the last minute, which could be an expensive […]
If you’re going to read just one financial book this year, read Money Magic by well-known economist Laurence Kotlikoff, who also co-authored the definitive book on Social Security, “Get What’s Yours.” Kotlikoff has the extraordinary ability to make complicated money matters understandable – and to debunk the lures of Wall Street and the financial planning […]
Help with repayment of student loans is one of the most enticing benefits a company can offer to today’s young workers. And now there’s a new opportunity for employers to act before year-end to use a portion of the CARES Act that makes tuition repayment benefits even more attractive. Traditional employee benefits like healthcare and […]
A new rule promulgated by the Securities and Exchange Commission known as Regulation Best Interest (Reg BI) goes into effect June 30. It promises to give investors a clearer picture of the fees and other costs they are paying, as well as the disciplinary history of brokers and advisers who are giving financial advice, although […]
IRS says RMDs Can Be Returned If you took a Required Minimum Distribution at any time during 2020 – or even regular distributions on a monthly basis, you may return them to your IRA without penalty if you act by August 31st. Of course, the IRS announced in April that NO RMDs would be required […]
It’s safe to open your eyes now, and time to take a peek at your IRA. Whether you’re still contributing or thinking about withdrawals, there are some changes to the rules and some opportunities for planning. RMDs As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, you won’t have to take a […]
No matter how much you shop on Black Friday or Small Business Saturday or Cyber Monday, be sure to save some of your money for Giving Tuesday — December 3 this year. Giving will soothe your conscience and help needy people and good causes — even if you no longer itemize your charitable giving on […]
The SEC has just passed a new regulation called the “best interest standard.” The title of the rule — and the public self-congratulations — are designed to reassure investors that all brokers are suddenly required to put their clients’ interests ahead of their own. In reality, nothing could be farther from the truth! The new […]
As America ages, it’s likely that more people will inherit substantial Individual Retirement Accounts. What you do next will make a big difference in your own financial future. Yet, few people leave instructions for their named beneficiaries about the best course of action. Fortunately, there are financial planners who are trained IRA experts, taught by […]
In a recent column, I mentioned the importance of tax planning for your retirement assets. We are living in a time of relatively low historic income tax rates, and as our national debt grows and political considerations change, it’s not unlikely that tax rates will rise in the future. It’s always been the conventional wisdom […]
“Chicken money” is money you can’t afford to lose. It’s that simple. The amount of chicken money you need depends on your overall financial situation, stage in life, and risk tolerance. Just about everyone needs some money that is not intended for ordinary spending and not part of your investment program. Chicken money should be […]
