Financial planning, career development and investing information - Money-Zine.com
arrowHome arrow Financial Planning Guide arrow Retirement

Our Guide to Retirement Information

Investing in Retirement Plans

So you're thinking about investing in retirement plans - that's a good thing.  But maybe you're not exactly sure where you should put your money - that's not a good thing.  It's easy to get confused about funding a retirement plan, especially when it comes to tax-advantaged plans versus employer plans.

 
Retirement Planning in Your 20s

To some of you it might seem crazy to create a publication that talks about retirement planning in your 20s.  Admittedly, to most 20-somethings, retirement is so far away that it occupies very little of their thoughts.  But the reality is that a time will come when these "youngsters" will retire too.

 
Retirement Planning in Your 30s

If we had summarize what retirement planning in your 30s was all about, then it would probably go something like this...  When you're in your 30s, you are in a unique position from a retirement planning standpoint.  For most of us, these are the "make or break" years - here's why.

 
Retirement Planning in Your 40s

If you started your retirement planning early in your career, then you should be in pretty good shape by the time you're in your 40s.  If you're thinking about retirement planning for the first time, then you've got some serious catching-up to do.  That being said, retirement planning in your 40s is perhaps the single most important step you can take to prepare yourself for those retirement years.

 
Retirement Planning in Your 50s

If there is ever a critical time for retirement planning it's when you hit your 50s.  You've still got ten to fifteen years left in the workplace and you're entering your peak earning years.

 
Retirement Planning in Your 60s

If you agree with the mindset "it's never too late," then you'll appreciate what retirement planning in your 60s is all about.  And when it comes to retirement planning - you don't ever want to give up and concede it's too late.

 
401k Plans

Personally, we think that 401k plans are one of the premier benefits an employer can offer their workers.  They provide employees a perfect tax shelter, and most plans even include an instant return on the employee's investment.  In fact, for many investors 401k plans should be their first stop for any money earmarked for retirement.

 
401k Rules

If you're thinking about contributing to your employer's 401k plan, but need more information, we've got most of the 401k rules covered in this article.  We use the word "most" because 401k plans are tricky in that employers have some flexibility in how they can administer their plan.

 
401k Limits

Participating in a 401k plan is a great way to help you get ready for those retirement years.  In this article we are going to discuss some of the 401k limits, or rules, that all employees need to be aware of when participating in such a plan.  This includes both compensation limits, as well as contribution limits.

 
401k Retirement Plan

If you're thinking about retiring someday - and you should - then you need to think about starting a 401k plan.  If you're lucky enough to have one of these plans at work, then make sure you've signed up.  Retirement is really not that far away - ask anyone.  It sneaks up on you, so be prepared.

 
401k Rollover

When most of us talk about a retirement plan rollover, we are thinking about taking money from one retirement plan and transferring it into another plan.  In the real world, the most common rollover scenario would be if you accepted a new job and wished to rollover your 401k plan to your new company or another financial institution.

 
401k Loans

For most of us, our 401k plans are the first and only place we have reserved for consistent and "real" savings - money we put away and never intend on touching until retirement.  But what happens if we're faced with an unexpected expense?  Is getting a 401k loan possible?

 
401k Losses

On February 20, 2008, the U.S. Supreme Court ruled that individuals have a right to recover 401k losses based on what were considered fiduciary breaches.  This landmark decision means that the 50 million Americans participating in a 401k plan now have a right to recover their loss if plan administrators don't fulfill what's considered their obligation to participants to manage their plans wisely.

 
401k Withdrawals

In this article we're going to be discussing 401k withdrawals.  This includes early withdrawals, and allowed distributions under the current 401k rules.  We're also going to discuss the potential tax penalties for early withdrawals.

 
401k Hardship Withdrawal

You've been faithfully building your 401k plan at work, but you suddenly find yourself with a financial hardship.  This leaves you wondering - Is it possible to make a 401k hardship withdrawal?  The answer to this question is not quite that simple.

 
401k Contribution and Catch up Limits

Perhaps the single most important retirement account available to employees today is their 401k plan.  In this article we're going to discuss the current (2007 / 2008) 401k contribution limits, including catch-up limits, pre-tax and total contributions limits, as well as the limits that apply to highly-compensated employees.

 
Comparing 401k Contributions

In this article we're going to discuss the three options most of us have with respect to our 401k contributions - before-tax, after-tax, and now the Roth 401k.  Starting back in 2006, many 401k plan administrators took advantage of the new Roth 401k and started offering it to their plan's participants.  Let's take a closer look at the difference this new option can make to your 401k contribution plans.

 
401k Contribution Limits 2005

If your employer offers you a 401k plan, then consider yourself lucky.  These plans are a great way to fund your retirement.  But sometimes the 401k contribution limits can get a little confusing because there are employee matches and before-tax and after-tax limits.  Are you confused yet?

 
Roth IRA

The Roth IRA is perhaps the premier individual retirement planning tool and savings account offered today.  In this article we're going to discuss the full range of Roth IRA benefits, the basics of withdrawals, transfers, and contributions.  Then we'll finish up with some comparisons between the Roth IRA and employer sponsored plans such as the 401k and 403b.

 
Roth IRA Rules

Roth IRA rules are pretty straightforward because they fall into just a couple of categories that follow the typical scenarios that might happen along the way - eligibility, contributions, transfers, and withdrawals.  That's really just about all of the Roth IRA rules you'd encounter.

 
Roth IRA Limits

In this article we're going to discuss Roth IRA limits.  This includes the two broad categories of compensation/ income limits, which affect eligibility, as well as those limits that apply to contributions to a Roth IRA account.   We're also going to provide up to date information on the contribution limits for 2006, 2007 and 2008 including catch-up contributions.

 
Roth IRA Contribution Limits

In this publication we're going to discuss the Roth IRA Contribution Limits.   That discussion will include the recent changes that affect Roth IRA accounts in 2007 and 2008.  As far as the information we're going to provide, we'll address the two kinds of Roth IRA limits - one dealing with income restrictions and the other dealing with the contributions themselves.

 
Roth IRA Conversion

In this article we're going to talk about Roth IRA conversions.  This discussion will include Roth IRA contribution rules, transfers, income limits for conversions and their income tax effect.  We'll also discuss when - and under what conditions - it might be a good idea to make a conversion.

 
2010 Roth IRA Conversions

Back in May of 2006 there was a pretty significant change to the tax laws involving converting a traditional IRA to a Roth IRA.  In the year 2010 everyone can convert their traditional IRAs to a Roth IRA - and that's an opportunity that not everyone had in the past.

 
Roth 401k Plans

Starting on January 1, 2006 the Roth 401k was born.  Since that time, many employees have found themselves faced with the question - Do you want to contribute to a Roth 401k?  We're going to help answer that question by discussing the Roth 401k rules, contribution limits, withdrawals / distributions, and even how to make a 401k Roth rollover.

 
Self Directed Roth IRA

If you're looking for information on a self-directed Roth IRA, consider yourself in the majority when it comes to establishing a Roth IRA account.  That's because a self-directed account is simply defined as one where the owner of the account determines where the money is invested.  That's a pretty common arrangement when it comes to Roth IRAs.

 
Traditional IRA

A Traditional IRA is a retirement plan that allows you to save money for retirement.  In the case of a traditional IRA, you may also be offered an immediate tax shelter for the contributions that you make to your account.  In this article we're going to discuss many of the different rules you'll encounter with these IRAs including eligibility, contributions, income limits and withdrawals - so let's get started.

 
SIMPLE IRA

A SIMPLE IRA is a plan that gives smaller employers an easy way to contribute towards an employee's retirement account.  The SIMPLE IRA allows the employee to make salary-reduction contributions and employers make matching contributions.  In this article we're going to discuss the benefits, eligibility rules, how to set up a SIMPLE IRA, as well as contributions and withdrawal rules.

 
Self Directed IRA

If you're one of those persons that like to take control of your money, there is good news in the form of a self-directed IRA.  Just what is a self directed IRA?  Simply put, it is an individual retirement account that is established with a stockbroker rather than a bank or an investment house.

 
IRA Rules

IRA Rules are something that we've covered before for some specific types of IRAs, but we've never put them all together in one place before.  So in this addition we are going to talk about some general IRA rules including eligibility, contributions, and withdrawals.  And where necessary, we are going to point you in the right direction for additional information.

 
IRA Rollover

In this article we are going to discuss IRA rollovers.  We'll going to start off by briefly discussing why an IRA rollover might be necessary, as well as provide you with a definition of a rollover.  We're then going to explain the difference between a rollover and a transfer, and finish up with some of the rollover rules you need to be aware of to prevent you from encountering any income tax penalties.

 
IRA Withdrawals

This article is going to cover the topic of IRA withdrawals.  Here we're going to summarize the withdrawal or distribution rules that apply to traditional IRAs, Roth IRAs and SIMPLE IRAs.  We're going to talk about normal withdrawals (or qualifying distributions), minimum required distributions, exceptions to these withdrawal rules, and possible income tax penalties.

 
IRA Contribution Limits

In this publication we're going to discuss IRA contribution limits.  That will include the recent changes for 2007 and 2008.  In this publication we will address two kinds of IRA limits, one dealing with income, and a second dealing with the contributions themselves.

 
IRA Contribution Limits 2004 and 2005

IRA Contribution Limits have been increasing over the past several years and that is good news if you're saving for retirement.  For many years, the contribution limit stood at $2,000, but policymakers have realized that inflation made this old limit inadequate in meeting the retirement needs of individuals.  So if you are using IRAs to fund retirement, we have some good news about the 2004 and 2005 limits.  We will even discuss the catch up limit that can help you get more money into your IRA faster.

 
403b

In case you're not familiar with the concept, a 403(b) account is a retirement savings plan, or tax shelter, for employees of tax exempt organizations, public school systems, and those of cooperative hospital services.  You can generalize by saying the 403b is the nonprofit organization's equivalent of the 401k.

 
403b Contribution Rules

In this article we're going to be discussing 403b contribution rules.  Our discussion is going to include elective deferrals, after-tax contributions, and maximum allowable contributions.  We'll also run through some of the contribution rules that are unique to 403b plans such as the 15-year rule.

 
403b Distributions and Transfers

With such an unclear future for the Social Security system, individuals look to the security of supplemental retirement savings such as 403b plans.  But there comes a time when you need to take a distribution, or make a transfer, from your 403b account and the rules you need to follow can be quite complex.  We're going to help you steer clear of tax penalties by explaining the allowable 403b distributions you can take as well as the most efficient way to make a 403b transfer.

 
403b Rollover

In general, you can roll-over all or any part of a distribution from a 403b plan to a traditional IRA or an eligible retirement plan without paying any taxes.  The maximum amount eligible for a 403b rollover is the amount that would be taxable.  In other words, if you made an after-tax contribution to your 403b, then you cannot rollover that portion into tax-deferred retirement account.

 
403b Loans

Under certain conditions, it is possible to obtain a loan from your 403b plan.  But you've got to work closely with your plan administrator to make sure that the loan isn't viewed as an early distribution.  If a loan is viewed as a distribution, it'll be reported as income, and if you're under age 59 1/2, then you may be subject to a 10% tax penalty.

 
Final 403b Regulations

Only July 26, 2007, the Treasury Department in conjunction with the IRS released a finalized set of 403b regulations.  With a history dating back to the 1950's this rulemaking effort was nearly 50 years in the making, and provides 403b participants with some long-awaited guidance.

 
Roth 403b Plans

Included in the Bush Administrations Fiscal Year 2006 Budget were some changes to the way you can fund your 403b plan - the new Roth 403b.  In this publication we're going to discuss the benefits of a Roth 403b along with the rules of these plans including withdrawals / distributions, contributions, and income taxes.

 
Roth IRA versus 403b Plan

If you've been wondering whether or not to fund a Roth IRA or your 403b plan, we're going to lay out some of the things you might want to consider before making that decision.  They are both great retirement planning tools, but there may be reasons for choosing to fund one type of plan versus the other.

 
Coverdell Education Savings Accounts

Coverdell Education Savings Accounts seem to go by many names today - Coverdell ESA, Coverdell IRA, even Coverdale IRA (for those that are not too sure of the spelling).  Some people might even recognize this name as the replacement for the Education IRA established back in 1997.

 
Keogh Retirement Plans

Keogh plans allow self-employed individuals or small businesses the opportunity to provide employees with retirement savings benefits.  Keogh plans are sometimes referred to as qualified plans, or HR10 plans, and their rules are quite different from those that apply to Individual Retirement Accounts (IRA).

 
457 Plans

A 457 plan is a retirement / pension plan that provides benefits to government employees as well as employees of tax-exempt organizations.  Employees participating in 457 plans are allowed to defer their compensation on a before-tax basis via regular payroll deductions.  Money placed in these accounts grows on a federally tax-free basis until withdrawn.

 
457f Plans

The 457f is a deferred compensation plan that allows eligible employers to contribute money on a pre-tax basis into investments that provide key executives with a retirement benefit.  By doing so, these companies can help their executives defer payment of federal and state income tax on the money contributed into their accounts.

 
Roth versus a Traditional IRA

Funding a retirement account is an important part of your financial planning process.  And when it comes to choosing between a Roth IRA and a Traditional IRA, you need to make an informed decision.

 
Minimum Required Distributions

In this article we're going to discuss minimum required distributions or MRD.  For certain retirement accounts, including 401k plans, 403b plans, and the traditional IRA minimum distributions are required.  Here we'll discuss the calculation of this distribution, and the exact MRD rules you need to follow.

 
Balancing Your Retirement Account

Investing in your retirement account isn't a one time decision - it's more like a process.  At a single point in time you made a decision to invest your money in a certain way, but as time moves forward, balancing that retirement account becomes important too.

 
Calculating Retirement Income Needs

If you've got a comprehensive retirement plan, then it probably includes a mix of employer benefits, government plans, and retirement savings accounts.  You've probably also heard some of the "rules of thumb" on how much income you need.  But your retirement income needs to last you a lifetime - which might be longer than you think.

 
Retiring a Millionaire

To many of us, the ultimate measure of successful career was to retire a millionaire.  But it takes more than just wishful thinking and a big salary to retire with a million dollars - it takes discipline and time.

 
Best Time to Retire

As workers approach their peak earning years many begin to think about questions like "When is the best time to retire?"  We hear stories all the time about people living longer - which is good news.  For those of you that are still thinking about retiring at age 62, you need to figure out if your retirement plans are taking this new information into account.

 
Reverse Mortgages

If you're having trouble paying for bills, or you simply want to enjoy a richer lifestyle in your retirement years, then you should give serious thought to tapping into your home's equity via a reverse mortgage.  For many Americans the single most valuable asset they own is their home, and reverse mortgages allow seniors to generate a steady stream of income - and here's how they work.

 
401k Plans 2004

I've been in and interested in the stock market so long I can remember when the Mutual Fund pages in my home town paper were just one page! Now it looks like there are more Mutual Funds then there are stocks listed on the New York stock exchange. I wonder how many billions of investor dollars are supporting these funds.

 
Because Saving for a Rainy Day No Longer Works

With the vast majority of "401(k) generation" Americans destined to outlive their savings, is there a strategy that can turn the average worker's golden years platinum? Equity strategist Phil Dow has a new book that offers a common sense answer with an unusual name: "bulldog investing."

 
At the Doorstep of Change

Women's financial health - It's certainly not a new topic. In fact, the concept gains more and more interest each year as millions of baby boom women get closer and closer to retirement.  But as the media and consumer groups work hard to promote women's financial issues, the heart of the topic can often get lost in the shuffle: Are women more empowered today to take charge of their own financial futures than they were in years past?

 
The Hawk and the Mouse Retirement Saving

There once was a hawk, ferocious and swift. He was young and agile with many years of life to hunt the open ranch lands. In a nearby field, a mouse scurried about the ground. The hawk saw the hurried motion and swept speedily toward the rodent.

 
Tax Saving Opportunity with 2004 Pensions

The newly-released retirement plan limits for 2004 reveal a tax-planning opportunity for older high income individuals.  Most of the changes will have minimal impact.  The maximum tax-deductible contribution in defined contribution plans increases only slightly from $40,000 to $41,000.  - This includes the most popular types of plans like 40(k), profit-sharing and money purchase pension plans.  The maximum allowable contribution to a 401(k) increases from $12,000 to $13,000 and the "catch-up" allowance increases from $2,000 to $3,000.  These $1,000 changes are not likely to inspire any financial planning shake-up.

 
Thinking About a Resort Retirement Home

Better Think About Buying Now!  Buying Now Ensures A Choice Location and Rental Income Helps Pay for the Home.  As the Baby Boom generation ages, more and more of us are thinking of retirement homes. Dreaming of communities in the country, close to golf, theatre, art galleries and forested hillsides. Or maybe your dream is of Florida sands, palm trees and year-round heat. In either case, you'd be well advised to act on your dream sooner rather than later.

 
Saving Your Pennies Can Save You in Retirement

Throwing your pennies away? Buying coffee every day from the corner store rather than making it yourself? These behaviors seem harmless, but could be jeopardizing your retirement. With more Americans living longer than previous generations, the threat of outliving one's savings is a highly probable scenario for countless Americans, regardless of gender or race. The need to secure a steady stream of income in retirement is something for which everyone needs to plan.

 
Minimum Required Distributions Tips and Information

The topic of Minimum Required Distributions or MRD focuses on individuals who have investments in annuities/pensions and are making withdrawals or have not taken withdrawals and are about to reach their 70 1/2 birthday.

 
Are You Getting the Most Out of Your Retirement

As people work toward retirement, many look forward to having the time to pursue new interests, travel, or just spend time with their grandchildren. Part of enjoying retirement, though, is having enough money to know your needs, and even some of your wants, are covered.

 
Americas Social Security System is in Desperate Need of Reform

The presidential candidates have debated dozens of times so far and they finally seem to agree on something: there's nothing wrong with the Social Security retirement system that "growing" the economy won't solve.

 
Rolling your 401k Contributory IRA Versus Rollover IRA

In an ideal world you would start your working career with a great company in your early 20s, steadily climb the corporate ladder, retire at age 65, and draw a sufficient income from your accumulated 401k account to live happily ever after.

 
Google
Web Site
Home
News and Commentary
Careers Guide
Financial Planning Guide
Investing Guide
Free Calculators
Definitions
Downloads
WebLinks
SiteMap

CLICK HERE to Sign up for Our Monthly Newsletter

Add to My MSN
Add to My Yahoo!
Add to Google
Money-Zine.com copyright 2004 - 2008