Whether you retire, change jobs, or find yourself in some sort of financial hardship, there are some considerations to keep in mind before cashing out a 401(k). Alternatively, upon retirement or change of employer, you will need to decide what to do with your 401(k)/403(b) in a rollover situation.
A self-directed IRA allows you to hold different types of investments. A non-deductible IRA holds funds that were contributed on an after-tax basis. Learn more.
A 401(k) plan is a qualified plan, also known as a defined contribution plan, offered by your employer into which you can make pre-tax or Roth/after-tax contributions directly from your pay. An Individual Retirement Account (IRA) is an account you establish that can accept rollovers from 401(k)s or other employer-sponsored plans, as well as tax-deductible and non-deductible regular contributions to help you save for retirement.
There are two different 5-year rules when it comes to Roth IRAs, and both are important to know about if you have a Roth IRA. One 5-year rule is for Roth contribution IRAs, and another different 5-year rule is for Roth conversion IRAs.
Creating a retirement budget is an important activity for retirees and pre-retirees to consider. Having a road map of basic and ongoing needs, as well as assumed discretionary spending, is crucial to maintaining a safe drawdown on your portfolio over time.
The death of a spouse is one of the most difficult events a person can experience. Beyond the tremendous emotional impact, it can also be a time of deep financial uncertainty. Learn how to begin navigating this next chapter of your financial life.
