Over the past year Ive thought a lot about personal finance. Heres what I concluded: a) Money is not the main driver in what I do. b) If given the choice between being rich versus not being rich, Id rather be rich. c) If there are easy things I...
Q: Which would be safest and offer the best long-term results for my 401k -- a stable value fund or an inflation-protected bond fund? -- O.C., by e-mail A: Go for the inflation-protected bond fund. Long term, it will provide you with a small premium (probably something over...
When it comes to giving new graduates a word of advice about their finances, parents are sometimes reluctant to speak up. After all, they figure, the kids aren't going to listen anyway. On the contrary, Mom and Dad. Who else (besides Kiplinger's) are young adults going to...
Kiplinger's subscriber Chad Hollenkamp wishes to thank his parents. When Chad graduated from college with student-loan debt and a car that had just died, Mom and Dad welcomed him back home for a financial respite, and he has made the most of it. Chad contributes 7 percent...
On April 30, 2007, the 1RS published final regulations on the taxation of distributions from designated Roth accounts, better known as RoUi 401ks and Roth 403bs. This article mentions only the Roth 401 k, but the information applies to Roth 403bs as well. These final regulations for the taxation of...
If you make too much to qualify for the maximum rebate in the Economic Stimulus Act -- $600 for single filers, or $1,200 for married couples -- based on your 2007 income, you get another shot for 2008. Contributing to a 401k plan or a flexible spending account, making a...
Michael Bell is a young lawyer on the fast track. He has maxed out annual contributions to his 401k over the past four years. Now he faces a choice: Should he continue to contribute to his traditional 401k -- which saves him more than $5,000 a year in state and...
Certified Financial Planner Bernie Benyak, a tax manager at Stockman, Kast, Ryan and Co., likens investing strategies to buckets that need to be filled. Bucket one should be stocks, bonds and mutual funds -- things in a taxable account. Ideally, bucket two is traditional Individual Retirement Accounts,...
Tax Season Presents Good Time to Evaluate if Roth 401k is Right for You SAN FRANCISCO -- As employers look for more ways to help their employees save for retirement, Charles Schwab today released new data showing an increase in the number of plan sponsors making the Roth...
BLUE BELL, Pa. -- ERISA Expertise LLC, providing tools and technology for advisors, plan sponsors and plan service providers today announced the formal release of the Roth 401k Analyzer V3.0. Much more than a financial calculator, the Roth 401k Analyzer V3.0 is a user-friendly report generator tool that...
Q: I am nearly halfway through the process of restructuring my investments. I'm changing from a portfolio of more than 25 individual stocks to one of diversified index funds (a la your Ten Speed or Six-Way Couch Potato Building Block portfolios). However, I've come up with a question. ...
Working taxpayers can salt away more money for retirement. The payin limits for IRAs and Roths rise to $5,000, up by $1,000. And anyone who was born in 1958 or earlier can kick in an extra $1,000. But there's no change in the 401k...
The last thing you want to worry about when making that kind of change is how to handle your retirement account. Such is the dilemma facing this week's letter-writer, Susan. "I was wondering if you could help me make a decision as to which...
American taxpayers have several options for saving and investing for retirement. The recent shift from company-sponsored defined-benefit pension plans to 401k defined-contribution plans, along with the uncertainties associated with Social Security, has some taxpayers beginning to feel an urgent need to supplement their retirement savings. ...
EXECUTIVE SUMMARY * Defined-benefit plan distribution rules have been amended to facilitate phased retirement alternatives for workers. * Regulations have been issued that clarify what are considered qualified distributions from Roth 401k accounts and the rules for rollover distributions...
The IRS has made some changes for 2008. You'll be able to save more in your traditional and Roth IRAs, as the limits rise to $5,000. Those 50 and older can put in an extra $1,000. Limits for 401ks and 403bs will remain the same--$15,500 or, if...
SPEND TAXABLE ACCOUNTS BEFORE TAKING A PENSION My wife and I have a 401k, a couple of traditional IRAs and a Roth IRA. I'm collecting a pension. My wife can collect a pension when she retires in a few years (when we'll both be...
CONVERTING A 401K TO A ROTH IRA In the September issue's "Your Questions Answered," you mentioned that starting in 2008, you can convert directly from a 401k to a Roth IRA. Do taxes get paid before the conversion from the employer plan? And...
Some key ceilings on retirement plans are going up next year: The payin limits for IRAs and Roths rise to $5,000, up by $1,000. And anyone who was born in 1958 or earlier can kick in an extra $1,000. Plan payins...
FOR YEARS, traditional 401k plans have helped people build a nest egg by funding a retirement account with pre-tax dollars. But a potential crack in the egg was having to pay taxes on account withdrawals. Now, Americans can invest in a Roth version of a 401k...
Articles 2007-10-12
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