IRAs & 401ks Archive
Three New Years Resolutions for 401(k) Plan Sponsors
by Nicole Cervi-McKeeverMost 401(k) plan sponsors are finishing out the year with an eye towards how they can drive improvements to their plans in 2021 and boost outcomes for plan participants. In that spirit, 401(k) Specialist Magazine has developed a list of three New Years Resolutions for 401(k) plan sponsors that includes the end of automatic cash-outs,… Continue reading
Beware The Many Vultures Eyeing Your Old 401(k) Money
by Mitch TuchmanTens of millions of Americans are out of work as a result of the COVID-19 pandemic and associated shutdowns. Once the economy restarts in earnest, chances are many of them will return to different jobs, even different careers. That kind of monumental shift in the economy will be an acceleration of an already common experience… Continue reading
Your 401(k) Won’t Be Enough For Retirement
by Mitch TuchmanIn light of the continuing pandemic, Congress has temporarily changed the rules on hardship withdrawals from your 401(k). It’s easier to take money out penalty-free, up to $100,000, and you can pay it back and avoid the tax hit. But should you even think about raiding your 401(k) plan? Vanguard, the investment firm founded by… Continue reading
All the Ways You Can Mess Up Your 401(k)
by Mitch TuchmanWorkplace retirement plans get a lot of bad press, primarily small company plans loaded with high fees. But, truth be told, 401(k)s have been a boon to millions of Americans with access to them. In total, 55 million savers held $5.3 trillion in these plans at the end of 2017, according to industry data. Put… Continue reading
Q & A: What Separates the Wealthy from the Well Off?
by Sally BrandonDuring a recent quarterly market review call, we received the following question from a young man at the University of Texas: How much net worth separates the wealthy from the merely well off? It was a great question, albeit one that’s highly subjective. I think of somebody wealthy as having enough assets put away and… Continue reading
Q & A: How to Teach Kids that Stock Picking is a Gamble
by Sally BrandonEach quarter, our firm holds a Market Review Conference Call wherein we invite clients and listeners to ask our Chief Financial Officer, Mitch Tuchman, their pressing investment questions. Recently, we received an interesting query from Dana, a client based in San Jose, CA. Dana’s main concern is that her high school age daughter is learning… Continue reading
It’s Your Money, Take It With You, Dammit!
by Scott PuritzOne thing not to forget when you leave a job: your 401(k)! Scott Puritz spoke to Rodney Brooks at The Washington Post about the best practice of taking your retirement savings with you when you switch jobs. Continue reading
Turn Your Kid Into The Millionaire Next Door
by Sally BrandonSome people show up late at a party to make a grand entrance. Others just don’t want to be the first to arrive. Either way, if you breeze in when the party is in full swing you can start socializing without missing a step. It sure beats showing up early and feeling awkward. Unfortunately, what’s… Continue reading
Retirement Planning – Freelancers Have A Secret Weapon, The Solo 401(K)
by Scott PuritzAn amazing 40 percent of American workers will be classified as freelancers by 2020, according to the Bureau of Labor Statistics. Once the province of recent graduates and those “in between” jobs, the wave of the future seems to be contract work as a long-term career for millions of Americans. And because of this trend,… Continue reading