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Where Should I Invest My 401k?

401k retirement savings plans are terrific ways to save for retirement. They use the power of investment and compound interest to deliver tremendous returns based on how much you put in each year. By the time you are able to withdraw your funds without penalty – at the age of 59 ½ – the percentage […]

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Can You Invest in Both an IRA and 401k at the Same Time?

Of the various defined contributions plans out there today, the two most popular are individual retirement accounts (IRAs) and 401k plans. Both have their advantages and disadvantages, and both are widespread; it’s estimated that 50 million Americans have a 401k plan and 47 million have an IRA of some kind. While you can have more […]

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How Much Can I Contribute to My 401k Per Year?

A 401k can be a pretty powerful investment tool for retirement if you make full use of it. Basically, through a 401k offered by your employer, you can contribute a certain amount of pre-tax dollars from your gross salary to your account. This money may be matched dollar for dollar (to a certain amount) by […]

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When Do I Have to Take Money Out of My 401k?

This is a pretty popular question, if only because a 401k is still a very popular option for those who want to save for retirement. A 401k gives you the ability to take a portion of your monthly pre-tax income, match it with contributions from your employer (up to certain limits), and have it placed […]

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Can You Use IRA Accounts as Collateral?

IRAs – individual retirement accounts – are some of the most popular retirement plans used today. Close to 48 million American households feature some kind of IRA; many have more than one. Traditional IRAs lead the way, but today more and more are moving toward Roth IRAs which give you some pretty nice tax advantages. […]

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Calculating 401k Early Withdrawal Penalties

A 401k is probably the most well-known defined contribution plan on the market today. Over 50 million Americans have 401k plans, with close to $3 trillion in assets, and while that number has decreased, it is still pretty robust. Probably the best benefit of a 401k is that it is through your employer; as a […]

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