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4 Retirement Mistakes That Can Cost You $250,000 Or More


Sometimes the costliest errors are ones we make ourselves, often without realizing how much damage we’re doing.   We tend to think the mistakes that derail retirement are the ones that are inflicted on us: an investment that implodes; an adviser who dupes us; a market crash that decimates our nest egg. In fact, the costliest errors are […]

The Safest Way To Make Your Retirement Savings Last


“Whenever I read about annuities, I wonder why you can’t create one on your own without an insurance company. Just invest your money conservatively and then watch your expenses so you don’t blow through your savings too soon. Wouldn’t that plan work just as well, if not better, than an annuity?” — Mike J., New […]

When You Must Take Money Out of Your I.R.A. or 401(k)


The 15th isn’t the only significant tax deadline in April. If you turned 70½ in 2014 and have an individual retirement account, you have until April 1 to make your first withdrawal — known as a “required minimum distribution” or “minimum required distribution,” in tax lingo. The rule also generally applies to other tax-deferred retirement accounts, like 401(k)s. […]

4 Ways to Set Yourself Up for Early Retirement


By: Paul Keegan via Money Knocking off at 55 is hard but not impossible. Here’s what one young family needs to do to reach their goal. Carlos O. Gomez, 38, wants to retire at 55. To that end, the high school assistant principal from Oceanside, Calif., puts $11,100 of his $106,000 salary into retirement accounts […]

Retirement Income Mistake Most Americans are Making


By: Walter Updegrave via Money   Retirees want steady income yet few buy annuities—probably because they don’t understand how they work. Here’s a plain-English guide.   A recent TIAA-CREF surveyfound that 84% of Americans want guaranteed monthly income in retirement, yet only 14% have actually bought an annuity. One reason may be that most people don’t really […]

10 Key Facts About Social Security Benefits


via MFS 1.  Eligibility for Social Security benefits is determined by your work history.   To qualify for benefi ts, you must have earned a minimum number of “credits” over the course of your working life.   2. Changes to your status in any of these areas can have a positive or negative effect on your benefit amount.   […]

Borrowing From Your 401(k) Might Not Be A Bad Idea


  “Leakage,” using 401(k) or IRA savings to pay for anything other than retirement, has become something of a bad word in the personal finance world. One policy wonk, Matt Fellowes, the founder and CEO of HelloWallet, took the metaphor even further when he wrote that “the large rate and systematic quality of the non-retirement uses of […]

10 Mistakes by Annuity Shoppers


By: Stan Haithcock   It seems like everyone is trying to sell you an annuity.   Your banker, your broker, and your life insurance agent are all on the annuity sales train. In addition, you are continually bombarded with TV and radio ads, which now features ridiculous celebrity endorsements. It’s important to tune out all of that […]

401(k)s Welcome Annuities


By: Jeff Rose Via Huffington Post   Want to have a steady stream of income after retirement for a lifetime? The new rules issued in October by the U.S. Treasury Department and the Internal Revenue Service make this goal easier to achieve by including deferred income annuities in your 401(k) investment options.   As traditional […]

Retirement-Account Standards May Tighten


Brokers who recommend retirement-account investments would have to put their clients’ interests ahead of personal gain under rules expected to be endorsed by the Obama administration as soon as next week. At present, the brokers’ recommendations for 401(k) plans and other retirement accounts generally have to be “suitable,” a weaker standard that critics say permits […]