401(k), 403(b) and 457 Plans
Millennials Want to Retire at 50. How to Afford It Is Another Matter.
“You don’t want to have all of your savings in pretax retirement accounts that can be costly to use before age 59.5,” he said. Mr. Northrup will sometimes recommend that his millennial clients reduce their retirement savings to have more cash available for shorter-term goals like buying a house, taking a trip or paying down […]
Know MoreWhen Stocks Become Bear Markets
The S&P 500 on Monday dropped into its second bear market of the pandemic, crossing a symbolic and worrisome threshold as stocks plunge following a meteoric rise over the last two years. Bear markets — when stocks decline at least 20 percent from their recent peaks — are relatively rare, and they frequently precede a […]
Know MoreHow to Save for Retirement as a Freelancer
Savings and investment vehicles Once you have a system or plan for saving for retirement, you’ll need to set up one or more retirement accounts where your money can live and grow. These are the four primary retirement savings options for freelancers, according to Atiya Brown, a certified public accountant and president of the Savvy […]
Know MoreWhen Financial Cheating Hurts Your Retirement Plan
With counseling and professional financial guidance, couples can avoid cascading failures that can completely derail retirement planning. One move he often sees spouses employ doesn’t end up being a solution. “For example, it is common to see 401(k) loans — or complete withdrawals, especially during the Covid period — to try to Band-Aid the situation,” […]
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