Can I Contribute To A 401k And An IRA?

This question about comes up frequently:  can I contribute to a 401k and an IRA? Fortunately for your retirement nest egg, you can contribute to both types of retirement accounts. In fact, both workplace and individual retirement accounts represent important building blocks in building your retirement savings. Supplementing your workplace…

Seeking Fairness: 401ks & Highly Compensated Employees

If you meet the IRS definition of being a highly compensated employee (“HCE”), you may find yourself in an unlikely position come tax-time: having to pay tax on your 401k contributions. But aren’t 401k contributions tax-free?  They are – but as an HCE, you’d owe tax on any 401k contributions…

Leaving An Employer? Don’t Forget The Rollover IRA

Did you change jobs recently? Or, perhaps, are you in the middle of a search that may lead to a new employer this year? Whatever the circumstance, you’re likely to be facing a laundry list of must do’s.  And not just big things like finding your feet in your new…

Does the MyRA Solve the Retirement Saving Crisis?

Regardless of your political persuasion, when the President makes his yearly State of the Union address, it’s a good idea to tune in. Listening to the address helps you to be an informed citizen and understand how governmental decisions and programs may affect you. In the 2014 State of the Union,…

Unlock Your Retirement Savings Potential: The 401k

There’s no doubt that saving for retirement can seem like herculean task; especially when you’re just starting out. But the good news is that there are many tools available that make your savings process easier – and help you save more. At the top of the list are employer-sponsored 401k…

Defined Contribution Plans on the Rise: Action Required

When it comes to employer-sponsored retirement plans, defined contribution plans are the new retirement reality for the majority of workers today.  Once upon a time, defined benefit pension plans were the norm, but increasingly, they’re mostly for government workers.  In the following post, we review the reasons for this shift…

Can Target Date Funds Miss the Mark?

It is easy to see the appeal of Target Date Funds. Savers can plop their money into one fund – usually a diversified mix of stocks, bonds and other assets – and as their pre-picked date of retirement nears, the fund ratios automatically reset to a more conservative asset mix…

Roth IRAs and 401ks: Are They a Smart Move for You?

When it comes to saving for retirement, smart investors often choose Roth IRAs over traditional IRAs. That’s according to a 2012 study from Texas Tech University, which revealed that people with high IQs were most likely to own a Roth IRA, regardless of their education, income or net worth. Why…

What it Means to be a Millionaire at Retirement

The question for working Millennials is no longer how to become a millionaire. It’s why you’ll need at least $1 million to retire comfortably. And if you plan to retire by the age of 65, $1 million dollars might not even be enough. The focus of this blog post is…

Financial Considerations for New Parents

The British Royal Family welcomed a Prince this week, and on Tuesday new parents Kate and William brought him home to Kensington Palace. While most young families won’t experience throngs of reporters, locals and tourists waiting outside the hospital or at home, they will have some major financial decisions to…