Here, we break down the IRS pro-rata rule—a calculation that helps distinguish pre-tax and after-tax funds.
Withdrawing money early from a retirement account is meant to be a last resort—and can come with consequences. Make sure you know these penalties and exemptions first.
If managing your financial accounts feels clunky or time-consuming, a money management app can help you track spending, savings, and performance. Here are three to consider.
With appropriate income withdrawal strategies, a retiree can lessen their exposure to IRMAA surcharges.
These misperceptions can end up costing you a lot of money, and more importantly, years of your life working for someone else rather than pursuing your passions.
The good news is that there are plenty of legitimate options to avoid the penalties and taxes.
It’s just as important to diversify how funds are saved as it is to diversify how they are invested.
Do not spend money that has been accumulated for financial independence. Invading long-term savings extends the time it will take to achieve a goal.
Time is the most important word in our investment vocabulary. If financial independence is the goal, starting today beats waiting until tomorrow.
Affordability, access to healthcare, climate, and culture are just some of the important factors to consider before moving to another state.
Take small steps, make prudent choices year after year, and watch your savings and investments grow.
Retirees will need to pay close attention to means-testing levels to help contain healthcare costs. This requires careful planning before retirement.
If you own large quantities of company stock held within a retirement plan, rolling it into a tax-deferred IRA may not be the best strategy. Learn when a Net Unrealized Appreciation (NUA) transaction is the right choice to maximize your tax efficiency.
Learn about contribution limits for traditional and Roth IRAs and get advice on how to minimize penalties if you’ve contributed too much in a given year.
From cashing out to transferring your balance, here are the different strategies for dealing with 401(k) plans from previous employers
Learn how to make the final year before retirement worry-free by addressing key concerns, from budgeting to benefits.
In planning for retirement, how you save is just as important as how much you save. Learn how you can save tax-efficiently by diversifying your assets across accounts that are taxed differently.
Steps you can take to help ensure that your wealth helps future generations.
It’s never too early to start planning for retirement. By setting a strategy— and sticking to it—you can help achieve your goal of financial independence sooner.
Learn how to protect yourself from data breaches, and what you can do if your information is compromised.