What to Do with Your 401(k) Plan When Changing Jobs

What to Do with Your 401(k) Plan When Changing Jobs

When you change jobs, you need to decide what to do with the money in your 401(k) plan. Should you leave it where it is or take it with you? Should you roll the money over into an IRA or into your new employer's retirement plan?

As you consider your options, keep in mind that one of the greatest advantages of a 401(k) plan is that it allows you to save for retirement on a tax-deferred (or in the case of Roth accounts, potentially tax-free) basis. When changing jobs, it's essential to consider the continued tax-deferral of these retirement funds, and, if possible, to avoid current taxes and penalties that can eat into the amount of money you've saved.

6 Steps to Begin Estimating Your Retirement Income Needs

6 Steps to Begin Estimating Your Retirement Income Needs

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. Learn the 6 steps to begin estimating your retirement income needs.

4 Tips for Investing to Reach Major Financial Goals

4 Tips for Investing to Reach Major Financial Goals

Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn't it? But that's what investing without setting clear-cut goals is like. If you're lucky, you may end up with enough money to meet your needs, but you have no way to know for sure.

5 Common Factors Affecting Retirement Income

5 Common Factors Affecting Retirement Income

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by these common factors you may not be able to enjoy the retirement you envision.

3 Ways To Balance a Retirement Portfolio with Asset Allocation

3 Ways To Balance a Retirement Portfolio with Asset Allocation

Balancing how much of each asset class you should include in your retirement portfolio is one of your most important tasks as an investor. That balance between growth, income, and safety/stability is called your asset allocation. It can help you manage the level and type of risks you face. Learn 3 Ways to balance your retirement portfolio with asset allocation.

Understanding Defined Benefit Plans

Understanding Defined Benefit Plans

You may be counting on funds from a defined benefit plan to help you achieve a comfortable retirement. Often referred to as traditional pension plans, defined benefit plans promise to pay you a specified amount at retirement.

To help you understand the role a defined benefit plan might play in your retirement savings strategy, here's a look at some basic plan attributes. But since every employer's plan is a little different, you'll need to read the summary plan description, or SPD, provided by your company to find out the details of your own plan.

/*================ ACTIVE CAMPAIGN TRACKING CODE START ================*/ /*================ ACTIVE CAMPAIGN TRACKING CODE END ================*/