One of the features of retirements accounts is that you have the ability to borrow against them. And, increasingly, Americans are turning to their 401k retirement accounts for money. Emergencies like job loss, unexpected medical problems and other economic troubles are causing Americans to consider taking money from their retirement accounts in order to smooth […]
One of the things to remember when you are saving for retirement is that once you reach age 70.5, you are required to take required minimum distributions (RMDs) each year from your retirement account.
Even if you don’t want the money.
If you don’t take the RMD, you will find yourself hit with an excise tax. So, […]
The last personal finance tip was about opening a retirement account. This tip is what to do if your employer offers a match program for the retirement account:
Put in the maximum for your employer-match retirement program.
This is free money that will be leveraged on your behalf in the retirement account. Take as much as you […]
It is very important that you start — immediately — to build a retirement account. So this personal finance tip can’t be stressed enough:
Open a retirement account. NOW.
If you already have one, consider upping your contribution if you have not maxed out.
image credit: sxc.hu
This post is part of the b5media Business Channel Great Blog Off! […]
It’s graduation time, and I’ve been getting a few questions about personal finances now that the “real world” has to be faced by college grads. Here is one question that basically sums up all of the questions I’ve got so far from grads:
I just finished college and I’m ready to get out there. Other than […]
Saving for retirement (well, saving in general) is not something Americans are particularly well-known for. So, of course, this Feed the Pig PSA addresses the problem. Disturbing? Yes. But Also entertaining.
Tags: Feed the Pig, Feed the Pig PSA, Friday Fun Video, personal finance blog, personal-finances, saving for retirement, yielding wealthShare This
This month, for our B5 Media Business Channel Theme Day, we’re doing “elegant simplicity.” My thoughts immediately turned to investing. Many people are intimidated by it, and worried about putting large amounts of money into an investment.
One of the simple ways to participate in investing is to use dollar cost averaging. And, if you have […]
Jennifer Hoffman over at My Organized Biz is once again prodding me. This time with a question about the 401(k). When it comes to retirement plans, even in times of economic downturn, the main advice it “don’t panic.”
Many people, in times like this, violate the main rule of investing: “buy low, sell high.” Instead, they […]
Jean, over at Small Business Boomers and of The Thriving Writer fame, submitted this question for Ask the Piggy Bank:
I’m looking at buying an annuity and I’m wondering what the difference is between a variable annuity and a fixed one.
This is an excellent question. Annuities are used as retirement income. Basically, they are savings […]
Yesterday I briefly hit on the fact that the emergency Fed rate cut will do little to help those whose retirement income relies on cash investments, such as savings accounts and CDs.
Interestingly, though, the rate cut, and other moves to help build “confidence” in the market (like the bond insurer bailout) could help those with […]
Taking finances personally
Written by Miranda Marquit [email] for b5media.
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