How to Take Required Minimum Distributions

When you turn 73, you have until April 1 of the ... The money needs to go directly from your IRA to the charity to qualify. What’s more, workplace retirement plans like 401(k) accounts aren ... Read More

New IRS Rule Lets Early Retirees Take More Money from Plans

Here’s how it works. If you take out any money from your IRA, 401(k), SEP IRA ... d waited until the normal retirement age. So, before committing, make sure you’ll still have enough money ... Read More

Retirees: It’s Time To Start Planning For Your 2023 RMDs

The IRS requires certain retirees to withdraw minimum amounts each year from your pre-tax IRAs and from employer-based saving plans, such as 401(k ... have lost less money in 2022. ForbesThe S ... Read More

No 2024 Retirement Savings? Here's How to Max Out Your IRA Before 2025

To start, figure out how much money you can afford to defer to retirement savings. Then, take ... to have, you can always make an additional manual contribution. One of the great things about IRAs is ... Read More

How Many Retirees Have $1 Million?

However, not a huge percentage of retirees end up having that much money. In fact, statistically, around 10% of retirees have $1 ... 401(k) plans and Individual Retirement Accounts (IRAs). Read More

Retirees with $1 million in savings could run out of money faster in these states, study finds

Seniors could be roughing their golden years in some states, as a new study shows that even $1 million in retirement savings won’t last very long in some states. The study, publ ... Read More

Ask a Financial Pro: I Have $1 Million in Retirement Savings. How Much Can I Withdraw Each Year in Retirement?

Question: I have $1 million ... retirement accounts. But once you're retired, it's also important to have a plan for withdrawing that money. If you don’t plan, you could end up running out ... Read More

I’m Retired and I Regret Investing In My 401(k) — Here’s Why

that widely accepted wisdom doesn’t exactly check out. She regrets sinking so much into her 401(k). Check Out: Early Retirement: Here’s How Much ... “First, I have to say: I’m incredibly ... Read More

10 Ways to Reduce Taxes on 401(k) Distributions

How you take a distribution can greatly impact your taxes Dr. Melody Bell is a personal finance expert, entrepreneur, educator, and researcher. Melody now develops personal finance curricula ... Read More

About That New York Times 401(k) Podcast

I work on retirement policy, public sector pay and other issues. But the article, and the podcast, unfortunately make clear that the real story was effectively already written: that 401(k)s have ... Read More

5 Reasons a 401(k) May Be the Worst Account to Have in Retirement

Because the money ... 401(k) (or 403(b) or traditional IRA) suddenly becomes the worst possible retirement plan, from a tax perspective, a saver could have. Here’s why: 1. Every distribution you ... Read More