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Retirement
What Type of Retirement Account Do You Have?
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What Type of Retirement Account Do You Have?
Traditional 401(k)
Roth 401(k)
Traditional IRA
Roth IRA
403(b) or pension
I don't have a retirement account.
What's the Difference Between an IRA and a 401k?
One of the most common questions I get from readers is, "What's the difference between an IRA and 401(K)?"
If you're an athlete, 401(k) sounds like it should be the length of some torturous marathon. Of course, IRA might evoke images of the Irish Republican Army.
Glamour Asks: Are You Normal About Money?
Money habits might be as personal to you as your pore cleansing ritual, but who isn't a little curious about the way others deal with their hard earned dollars. Glamour magazine solved the guessing game by polling its readers on their cash, asking about everything from money marriages to retirement savings. Check out the findings below; do any of the percentages surprise you?
Are You Still Contributing to Retirement Savings?
It's not surprising that some people are tempted to pull the plug on retirement contributions when things are tight, but it's important to continue on the path to saving enough for the golden years. Have you kept up with your contributions as the economic crisis has worsened?
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Are You Still Contributing to Retirement Savings?
5 Things to Accomplish Before 2009
We are down to the wire of 2008, and now is the time when many of us procrastinate with the rationale that we'll be on top of our game in the New Year. There are a handful of money and job-related tasks that can't wait until the ball drops, so get on the ball now by accomplishing these five things before 2009. Start the slideshow to see what should be at the top of your to-do list.
Savvy ATM: Revisiting the Retirement Account Rollover
Job hunting might be the only thing on your mind after losing a job, but don't let your 401(k) from your previous employer slip through the cracks. Deal with wrapping up those loose ends before diving into the job search head first, otherwise you're more likely to indefinitely postpone the task.
Your 401(k) savings can be rolled into a Traditional IRA account without penalty.
Congress Says: It's National Save For Retirement Week
In an attempt to encourage Americans to save for retirement, Congress is inviting all of us to celebrate National Save For Retirement Week. More than 20 percent of workers admit they don't have any kind of retirement savings and Congress wants to use this week to reinforce the importance of saving early.
Saving for retirement has always been a core issue of personal finance and right now it's more visible than ever, but not because of a special week created by Congress.
America's Oldest Worker Can't Stop, Won't Stop
Mildred Heath was recently honored as America's Oldest Worker for 2008. She and her husband bought a newspaper in Nebraska when she was 23. Today she's 100-years-old.
Definition: Hardship Withdrawal
A hardship withdrawal is when a 401(k) account holder removes funds from her retirement savings because of circumstances like job loss, facing home foreclosure, or overwhelming medical expenses. While withdrawal is permitted during those tough times, the account holder cannot get away from the 10 percent tax penalty incurred when the funds are removed.
According to The Wall Street Journal, several 401(k) plan administrators reported a noticeable increase in hardship withdrawals this year compared to last.
One Work Perk That Has Your Future in Mind
Employer-provided napping pods are great and all, but there's one new work perk gaining popularity that would help employees more than providing a place to rest. A handful of large employers including IBM and Pepsi have arranged for their employees to have access to one-on-one counseling sessions with financial planners. Some mid and small size firms are following suit: Even though the benefit is costly for employers, they believe it will help keep their workforces happy by reducing a big stress in their lives.
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