Are you taking full advantage of your company’s 401(k)? The 401(k) plan is one of the most widely-utilized wealth creation tools offered Americans. These retirement savings plans have several advantages, including dollar cost averaging, tax savings and tax deferral.  However, one of the most powerful advantages is the company match. If your company offers a [...]

Some tax consequences to remember. There are times when people really need money – and in those times, a retirement account may seem like a conveniently liquid resource to tap. What’s the harm in taking early distributions from a tax-deferred retirement plan? Well, the tax bite could be considerable. Big taxes may await you. If [...]

More companies are offering them. Will an automatic enrollment 401k fix our retirement savings blues? The trend could become the norm. Human resources firm Aon Hewitt surveyed 120 large U.S. companies in 2010 and found that 60% of them automatically enrolled workers in defined contribution retirement plans such as a 401k. In Aon Hewitt’s 2006 [...]

Who have you chosen to inherit your assets? It may be wise to review your choices. Here’s a simple financial question: who is the beneficiary of your IRA? How about your 401(k), life insurance policy, or annuity? You may be able to answer such a question quickly and easily. Or you may be saying, “You [...]

It may be the best retirement planning tool you have. Do you have a million dollars? At the moment, probably not. But if you invest and save diligently and let your assets compound, who knows? You may be a millionaire someday. In fact, you may need to be a millionaire someday. If you stay retired [...]