Congress and the IRS decided that you cannot leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin mandatory withdrawals.
At 59½ you can finally get at those dollars you have been stashing away for years in your retirement plans without paying a 10% penalty.
If your kid is in her senior year and there is nothing set aside for her college education it’s too late to do much more than stick whatever extra cash you can in a savings account.
More and more employers are eliminating their pension plans and only 60% of employers currently offer retirement plans.
Let’s start with the employer plans, 60% of employers offer some sort of retirement plan, but only about 50% of employees take advantage of the plans offered.
No you can’t! The reality is if you start at forty and plan to retire at age 67 you have only 27 years of saving and investing.
A Spousal IRA is an IRA funded for a spouse with little or no income by a working spouse with income.
No one has ever been guilty of saving too much money for retirement!
There are several ways to leverage this year’s refund and to get started on saving, no matter what your child’s age.
The best way to beat taxes is by investing in your retirement plan.