401(k)

Make Your 401(k) Last In Retirement

Posted on 04/17/2012 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkIf you’re worried about outliving your retirement savings, consider this: Don’t withdraw more than 6 percent annually from your employer-sponsored 401(k) or 403(b) plan. Take more than that and you could be tempting fate. That’s the harsh conclusion from the Institutional Retirement Income Council, a nonprofit think tank that looked at several strategies for new retirees. Determining how much retirees should withdraw from their retirement plans has been a favorite subject of debate among retirement planners. The council’s 6 percent figure is at …

It’s 4 a.m. Do you know what you’re getting charged in 401(k) fees?

Posted on 05/2/2011 by Deb Silverberg | AARP Blog Author | Comments

Money & SavingsIt’s not a question that keeps most people up at night — but maybe it should. Or perhaps a better question is this: did you know that 401(k) plans have fees associated with them? If you didn’t, you’re in good company. In fact, seven in 10 people didn’t realize that 401(k) plan providers charge fees to participants, according to a recent AARP study. 401(k) plans are still a powerhouse for your retirement funding, especially when some of your contributions are …

Boomers to Pay More Taxes in Retirement?

Posted on 04/23/2010 by Correy Robertson | Archived Contributor | Comments

Money & SavingsWell, that doesn’t seem fair. But it may be a reality, according to Linda Stern at AARP Bulletin. Apparently, tax-deferred accounts like 401(k) plans and Individual Retirement Accounts (IRAs) may be subject to be taxed when folks withdraw from them for everyday expenses. Stern gives us some solutions: So, what’s a pre-retiree to do? Don’t put all of your eggs in that tax-deferral basket, counsel a growing number of advisers. Firms like Financial Consulate Inc. in Hunt Valley, Md., are …

Time to Build Your Nest Egg in 2010

Posted on 02/8/2010 by Alejandra Owens | General News | Comments

Money & SavingsThat’s right, I said it: Nest Egg. Now that the new year is here, financial experts are saying this is a great time to review your retirement savings goal for the next year and figure out where you stand. AARP Bulletin reports: “Take stock of where you’re at,” says Richard Salmen, president of the Financial Planning Association and a certified financial planner in Overland Park, Kan. “A year-end evaluation is a good idea at this point. Really look at your …

Nest Egg Rebound?

Posted on 12/16/2009 by Correy Robertson | Archived Contributor | Comments

Money & SavingsHere is an article from Newsweek today on the bounceback of 401(k)s since the stock market has rebounded as of late. However, unfortunately, workers who are very close to retirement have accounts that have less money than they did at the end of 2007 – because their accounts had more to begin with. We’re talking about workers aged 55-64, who have been at their job at least 10 years. It may be ironic, but it also makes mathematical sense. The …

News of Note December 9

Posted on 12/9/2009 by Correy Robertson | Archived Contributor | Comments

Money & SavingsSo, are you part of the 42% of boomers who are now worried that they don’t have enough money put away to retire comfortably? Check out this article that appears on CNNMoney.com called “How to win at playing retirement catch-up.” Even though stocks are up incredibly since March of this year, 401(k)s are typically still worth less than they were 2 years ago. And the only way to try to remedy that? Save, save, save. The article discusses “catch-up contributions” …