Ask an Advisor: Will contributing more to my 401(k) lower my tax bracket? For example, say I make $50k (tax bracket with 22% rate) and contribute $6k to my Traditional 401(k) ($44,725 is the max for the bracket with a 12% rate). Will I be placed in the lower bracket? – J.P. Contributing more to […]
While defined-benefit pensions are a thing of bygone times for many, other plans have their place for most of us. If you’re like me, your retirement depends on how well you take advantage… A Brief History of (the Most Widely Used) Retirement Plans In 1974, the Employee Retirement Income Security Act (ERISA) created tax-deferred individual […]
And other related benefits of the new legislation… Less than a year ago I crossed a magical line in the legislative sand… I turned 59.5. Yeah, I know, that’s kind of an odd number, isn’t it? Tell that to Congress though. They made that age a critical milepost in letting us access our own money […]
Admit it. You know we all love to read articles like these: They speak to our intense desire to compare our accumulation to those of everyone else. They speak to the hidden fear that we haven’t saved enough (or, for those who have done well, the hidden glee). Understandable? Of course! Human? Sure! Helpful? Not […]
Your lifetime income projection estimates how much you can likely receive by converting your 401k plan savings to a stream of monthly checks. The SECURE Act offers useful information, but only if you can understand it. If you’re an American worker who hasn’t been living under a rock since you started earning a paycheck, you […]
I’m not an advocate of “get rich quick” ideas. There are tons of guru’s who will promise to teach you “their way” to get rich quick. It may work for some but to me, the best way to build wealth and keep wealth is a slow, boring process that requires discipline through good times and bad.
You can’t change how your employer matches your 401(k) contributions but you can strategize your contributions to avoid leaving any free money on the table.
I am always fascinated by anything having to do with money and our mindset, so this research paper on how people select investments in their 401(k) got me. A study has shown that regardless of industry, company size or any other factor that might determine an employee population’s investing knowledge, people are much more likely to […]
Wouldn’t it be great to know where the markets are going before they actually get there? Having that knowledge (sort of like having a crystal ball into the future) would help you plan your trades wisely. Well, I don’t have a crystal ball into the markets or any psychic intuition I could share with you. […]