Category Retirement

Required Minimum Distributions – What You Need To Know

Many types of retirement accounts offer enormous tax advantages.  For example, if you make contributions to an IRA or 401k, you may be able to deduct those contributions (i.e., not pay income taxes on the income you use to fund those accounts) now — and, instead, let the money grow — with no taxes due […]

Free Money! Which, sadly, only 25% of those eligible are taking…

Now that I have your attention, let’s try that again. Free Money! What we’re talking about here is the “Retirement Savings Contributions Credit”.  It was first created as part of the 2001 tax cut package called the “Economic Growth and Tax Relief Reconciliation Act of 2001” and was made permanent as part of the 2006 […]

How are Social Security benefits computed, and what are WEP and GPO?

Social Security. Perhaps the most successful government program ever, Social Security was put in place as a form of “social insurance” in order to protect against people who’d worked their entire lives ending up in poverty in their old age. Before diving into various details about benefits, there are a few things to clear up […]

FINRA warns about 401(k) Rollovers – Let’s talk again about conflicts of interest!

  FINRA, the Financial Industry Regulatory Authority, is the securities industry’s self-reglatory organization.  They do the various test, deal with broker and advisor registration and monitoring, etc. And FINRA has recently started cracking down on advisors and brokers who are giving questionable advice to investors about how to deal with their 401(k)s and rollovers.  In […]

Who’s Training Your Advisor? And let’s talk about conflicts of interest…

Another great column from Jason Zweig over at the Wall Street Journal: <http://blogs.wsj.com/moneybeat/2014/02/14/whos-training-your-retirement-navigator/&gt; In it, he starts with the big issue — there’s a lot of money on the table in the world of retirement savings and, especially, those huge balances growing in people’s 401(k) accounts, many of which will be rolled over in some form […]

The Father of the Modern 401(k) Says It Fails Many Americans

<http://www.marketplace.org/topics/sustainability/consumed/father-modern-401k-says-it-fails-many-americans&gt; “Thus began the era of make-your-own-retirement.” The 401k wasn’t exactly an accident – it was intentionally put into the tax code.  But the blockbuster growth of it, and the way it’s supplanting the traditional pension more and more – that was not the original intention. Scott Tang at American Public Media (NPR) discusses the […]

How to Save More For Retirement Without Really Trying

Today’s column from the excellent Jason Zweig: http://online.wsj.com/article/SB10001424127887323361804578390313278109482.html?mod=djintinvestor_t How to Save More For Retirement Without Really Trying [Click the link above to read the entire article] A highlight or two: • When people want to save but can’t bring themselves to do it, their retirement funds need to do the saving for them—automatically. • At companies that […]

The 4% rule and its failings

The 4% rule and its failings There are plenty of articles about shortcomings of the 4% rule – which is still a great *starting point* if not a real plan. The WSJ brings up a few alternatives to help overcome the problems with the 4% rule: http://online.wsj.com/article/SB10001424127887324162304578304491492559684.html?mod=googlenews_wsj   Some of the adjustments/alternatives discussed: (1) using […]

Delaying the start of Social Security

Delaying the start of Social Security – potentially a fantastic deal [Note, this post is from our On The Spot newsletter.  We publish it infrequently and strive to always include helpful, informative articles such as this one.  Sign up here: http://www.meyersmoney.com/resources/special-reports/ and we’ll also send you a copy of our most recent “10 Things” special […]

Real 10 year yields

From an article about adjusting assumptions for retirement withdrawal rates in a ‘yield-free’ world. http://www.advisorone.com/2012/06/27/retirement-in-a-yield-free-world?t=the-retiree     The author makes some important points about the rule-of-thumb that so many use for planning the level of withdrawals that’s “safe” from a given portfolio (or flipping it around, the level of savings that will be necessary to […]