In the News: Early Retirement Withdrawals have More Drawbacks than Benefits
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that while you can borrow from your retirement accounts for a first-home purchase, it’s not the best idea
New Rules for 401(k) Hardship Withdrawals
Not all plans offer hardship withdrawals, but the ones that do will be required to comply for plan years beginning in 2019. In order to take a hardship withdrawal from a 401(k) or similar plan, a plan participant must demonstrate an “immediate and heavy financial need,” as defined by the IRS. (For details, visit the…
Early Retirement Withdrawals Likely Have More Drawbacks than Benefits
This week on “Money Talks” Research Analyst Nick Antonucci, CVA, and Managing Associate K.C. Smith, CFP®, join Chief Investment Officer Troy Harmon, CFA, CVA, to discuss a situation where investors want to borrow short term from their retirement accounts. K.C. covers the rules, the drawbacks and the best alternatives available.
Planning Priorities: Taking Advantage of Your Employer’s 401(k) Plan
Scott Brown, CFS®, Senior Consultant, Retirement Services, explains how your employer-sponsored 401(k) is truly a benefit you should take advantage of for retirement.
In the News: Managing RMDs When You Don’t Need It to Pay for Living Expenses
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains what you can do with your IRA required minimum distribution if you don’t need the funds to live on.
403 (b) Plans: The Basics
Retirement plans established under Section 403(b) of the Internal Revenue Code, commonly referred to as “403(b) plans or “tax-sheltered annuities,” have become a popular type of employer-sponsored retirement plan. What is a 403(b) plan? A 403(b) plan is a retirement savings plan, sponsored by a tax-exempt organization or public school, that offers significant tax benefits…
How to Roll Over Your Employer Retirement Plan Assets
There are two types of rollovers: direct and indirect. A direct rollover is paid from your plan directly to your IRA or to your new employer’s retirement plan. The funds are never payable to you. An indirect (60-day) rollover is a payment made to you that you later roll over to an IRA or an…
Building Confidence in Your Strategy for Retirement
Each year, the Employee Benefit Research Institute (EBRI) conducts its Retirement Confidence Survey to assess both worker and retiree confidence in financial aspects of retirement. In 2018, as in years past, retirees expressed a higher level of confidence than today’s workers (perhaps because “retirement” is less of an abstract concept to those actually living it).…
Distributions from Traditional IRAs: Prior to Age 59½
IRAs were meant to fund your retirement, so the IRS penalizes you if you withdraw from your account prior to age 59½. Learn the details in this week’s Financial Tip.
Retirement Confidence Improves for Workers, Declines for Retirees in Critical Areas
Confidence in retirement savings is up in 2018, but health care costs and Social Security still remain a concern. Learn more in this week’s Financial Tip.