401k

How the $2 Trillion CARES Act Benefits Individuals and Small Businesses

Last Friday, President Trump signed into law a massive piece of legislation, titled the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The law provides over $2 trillion (yes, trillion) of funding to everything from the health sector, state and local governments, large and small businesses, and of course, individuals and families.

How Distributions Work in Retirement (And How They Can Hurt You!)

When I started my career in financial advising, I was clearly getting into a fairly complex business. It’s not so much because of the nature of investing and finances in and of themselves, but rather the regulation and rules that dictate what you can or must do, when, and how often.

Few things can be more complicated than taking money from your retirement account. The rules can be very particular and breaking them can be extremely costly.

Following is an explanation of some of the fundamental retirement distribution rules you should be aware of as you think about taking money from your 401(k) or IRA.

How Good Are the Tax Savings in Your 401k or IRA?

There are many advantages to using your 401k or IRA for future savings. These retirement tools are truly without compare in many respects. But if I had to pick out one attribute that shines above the rest, especially when compared to other ways to save, it’s the tax advantages.

This is well illustrated with a powerful example from an American College textbook I was recently reading through.

4 Ways Your 401(k) Can Get You in Big Trouble

I love 401(k) plans! Sure they’re not perfect, but few tools are better equipped to help families build wealth for a comfortable retirement.

But there are some common 401(k) pitfalls that can really get folks in trouble. In many cases, these 401(k) mistakes can end up costing investors tens or hundreds of thousands of dollars over a career of diligent saving!

Here are 4 common 401(k) dangers, and how to avoid them.