Naming A Beneficiary For Your Retirement Account
Federal law requires you to designate your spouse as the beneficiary for your 401(k) unless your spouse has signed a written waiver. Unlike a 401(k) plan, you aren’t required to name your spouse as the beneficiary of your IRA (unless you live in a community property state, see IRS Publication 555 here for a list of those states).
Retirement Planning Tips To Retire Once
It is important to review basics areas of retirement planning to prepare to retire on time and once. Reviewing financial planning subjects such as health insurance, budgeting, retirement savings, estate planning are just a few areas to review with your Financial Advisor.
Should You Invest Your 401(k) Contribution In Your Traditional 401(k) or Roth 401(k)?
The biggest difference between a Roth 401(k) and a traditional 401(k) is how and when you get a tax break. Thus, most advice on the Roth 401(k) vs. traditional 401(k) topic depends on the following question: Does the benefit of a tax-deductible contribution now, outweigh the benefit of tax-free withdrawals in retirement, after your account has grown?
Saving Just A Little More Can Make A Big Difference in Retirement
Often it's the little things in life that can make the biggest difference. That's true when it comes to saving for retirement. Putting just 1% more into a tax- advantaged retirement account like a 401(k), or an IRA could make a noticeable difference in your lifestyle in retirement.
July 20, 2020
How to Maintain Your Current Lifestyle In Retirement
Once you know where you are going, it becomes a lot easier to plan to get there, and to measure your progress along the way. When it comes to saving for retirement, set a course for maintaining your current lifestyle in retirement—and plan for your savings to provide 45% of your pre-retirement income.
May 11, 2020
Retirement Account Rules Relaxed
Some retirement account rules have been relaxed as a result of both the Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law in December 2019 and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Washington’s massive stimulus effort to provide relief for families, individuals, small businesses, and major sectors of our economy impacted by the coronavirus outbreak.