Quicken 401k Retirement Plan

What Is a 401(k) Retirement Plan?

A 401(k) is a type of savings account that allows you to defer paying income tax on your contributions until retirement. Although we use the term “defer,” the major advantage of a 401(k) over a traditional savings account is that it enables you to pay less overall taxes on the money you’re saving.  Used wisely, a 401(k) is one of the best tools available to help you plan for a secure retirement.... Continue reading
Quicken IRA

IRA Contribution and Deduction Limits for 2019 and 2020

An individual retirement arrangement, often known as an individual retirement account and shortened to IRA, can provide you with a tax benefit as you save for retirement.  However, the IRA contribution limits and income limits can change over time. Double-check the IRA limits for 2019 and 2020, and learn how to correct excess contributions if you made a mistake.  Traditional and Roth IRA... Continue reading
Quicken RMD

Need to Know: Required Minimum Distributions (RMDs)

What Is a Required Minimum Distribution (RMD)? A required minimum distribution (RMD) is a mandatory annual withdrawal that you must take from certain types of tax-advantaged retirement plans. If you don’t take your RMDs in time, you could have to pay a steep 50% tax on the money you should have withdrawn. However, the amount you’re required to withdraw can change each year because it depends on... Continue reading
Personal finance strategies retiring

Personal Finance Strategies: Retiring

Having enough to live on in your golden years isn't an issue of luck, but of careful planning. If you’re looking to put together a retirement plan but don’t know where to start, use these tips to set yourself up for a comfortable, financially stable future.   Continue reading
Best Long-Term Budgeting Tools to Plan for Retirement

Best Long-Term Budgeting Tools to Plan for Retirement

Using the right budgeting software not only helps you reach your retirement savings goals, it can also ensure you manage your money well through the three phases of retirement. Continue reading
How many types of retirement plans are there?

Types of Retirement Plans [Infographic]

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How to Start a 401k

Investment 101: How to Start a 401(k)

To encourage people to save for retirement, the government offers a number of tax advantages for contributing to special retirement plans, including 401(k) plans, which can be offered by for-profit companies. Knowing how your 401(k) plan functions helps you make better decisions about how much you want to contribute and how you want to invest the money in the account. Who Can Contribute to a 401(... Continue reading
Decoding 401(k) Fees

Decoding 401k Fees

Seventy-one percent of 401(k) plan participants don't know that they are paying fees, according to an AARP survey. Administrative fees, investment expenses, transaction fees – isn't it time you read the fine print? Here are some tips about how to decode the fees your 401(k) plan is charging you. Continue reading

Best Cities to Live in Retirement

What makes a city attractive for retirement? Everyone has their own list of must-have qualities in a retirement spot – some prefer culture, while others make proximity to family a priority. But individual preferences aside, most retirees seek active communities with natural beauty where the cost of living, taxes and crime rate are all low. Here are a few places to consider putting on your "best"... Continue reading

Stages of Retirement Planning

Date: July 21, 2016 Most people put off thinking about retirement until their older, but they shouldn’t.  In 2015, the AARP reported that you should aim to have saved $1 million to $1.5 million, or at least 10 to 12 times your current income, in order to enjoy your golden years. Common sense tells you that the earlier you start saving, the sooner you'll have your ideal nest egg. Here are some to... Continue reading

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