Employers can offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you're lucky enough to work for an employer who offers this option, Roth contributions could play an important role in maximizing your retirement income. Should I make pre-tax or Roth 401(k) contributi [...]
Retirement plans established under Section 401(k) of the Internal Revenue Code, commonly referred to as "401(k) plans," have become one of the most popular types of employer-sponsored retirement plans. What is a 401(k) plan? A 401(k) plan is a retirement savings plan that offers significant tax bene [...]
Employers can offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you're lucky enough to work for an employer who offers this option, Roth contributions could play an important role in maximizing your retirement income. Are distributions really tax free? Because your [...]
Dear Valued Client, In this rapidly changing situation, I want to assure you Woodmen Financial Resources is maintaining regular business operations to ensure we continue to serve you. First, I wish you, your family, and your community well during this unprecedented time. The health and safety of our [...]
After all your bills are paid, what do you do with the leftovers? Do you put it into a savings account or into a 401k? This week, Financial Professional Dave Alison has some great suggestions on “the order of saving” your money! Real Wealth® is an online radio program with a purpose to educ [...]
When you change jobs, you need to decide what to do with the money in your 401(k) plan. Should you leave it where it is or take it with you? Should you roll the money over into an IRA or into your new employer's retirement plan? Transfer the funds directly to your new employer's retirement plan or t [...]
You may have heard that IRAs and employer-sponsored plans (e.g., 401(k)s) are the best ways to invest for retirement. That's true for many people, but what if you've maxed out your contributions to those accounts and want to save more? An annuity may be a good investment to look into. Get the lay of [...]
Your 401(k) plan may have a provision that allows you to withdraw money from the plan while you're still employed if you can demonstrate "heavy and immediate" financial need and you have no other resources you can use to meet that need (e.g., you can't borrow from a commercial lender or from a retir [...]
If you have a 401(k) plan at work and need some cash, you might be tempted to borrow or withdraw money from it. But keep in mind that the purpose of a 401(k) is to save for retirement. Take money out of it now, and you'll risk running out of money during retirement. You may also face stiff tax conse [...]
When you change jobs, you need to decide what to do with the money in your 401(k) plan. Should you leave it where it is or take it with you? Should you roll the money over into an IRA or into your new employer's retirement plan? As you consider your options, keep in mind that one of the greatest adv [...]
