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Net Worth | October 2023
Categories
Net Worth | September 2023
As the landscape of retirement planning continues to evolve, many individuals are looking at ways to maximize their savings and minimize their tax burden during their golden years. One strategy that has gained attention is converting a 401(k) to a Roth IRA. This method can provide tax-free income in retirement, but the conversion process is […]
As retirement approaches, ensuring that your hard-earned savings are secure becomes a top priority. The looming questions are: Where is the safest place to put your retirement money? How can you protect your nest egg from unpredictable market swings, inflation, and other economic uncertainties? These are pertinent concerns that can seem daunting. Understanding the variety […]
The road to retirement can seem complicated, especially when navigating the multitude of retirement savings options available. For those working in government sectors and certain non-profit organizations, two popular options are the 401(a) and the 457(b) retirement plans. While both are designed to offer tax-advantaged retirement savings, they differ in their features, benefits, and regulations. […]
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Net Worth | August 2023
In today’s uncertain economic climate, many individuals are exploring various avenues to access funds for immediate financial needs. One option that often comes up is tapping into the money set aside for retirement via a 401(k) loan. While this might seem like an appealing solution, it’s important to understand that a 401(k) loan is not […]
Navigating the world of retirement savings can often feel like traversing a labyrinth, particularly when it comes to understanding the various types of retirement plans and the rules that govern them. One such plan, often overlooked but increasingly common, especially among public sector employees, is the 401(a) plan. Offering flexibility and significant savings potential, a […]
Retirement planning is an important part of any financial strategy, and understanding the available retirement savings options is a substantial step toward ensuring a financially secure future. Two common retirement savings plans offered by employers, depending on who you work for, are 401(a) and 403(b) plans. What’s the difference between 401(a) and 403(b)? A 401(a) […]
Retirement offers an exciting phase of life filled with opportunities for leisure, exploration, and personal growth. It’s a time to engage in hobbies, travel, spend time with loved ones, and even pursue new interests. However, moving from a structured working schedule to the open expanse of retirement can sometimes feel disorienting. You may wonder, “How […]