401(k) Finance Pension Retirement Plan 
Money Talk
APRIL 11, 2024
Tax planning involves looking ahead and projecting future income and tax write-offs. Baby Boomer Challenges - Baby boomers (born 1946-1964) were the first generation with the ability to save money for retirement in 403(b)s, 401(k)s, and IRAs for decades (their parent’s generation had pensions). There is no way out.
Money Talk
JUNE 16, 2022
If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. This is true both during one’s working years (when taxpayers are saving for retirement) and later, when people are older and withdrawing taxable income from tax-deferred accounts.
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Money Talk
APRIL 20, 2023
Benefits are based on a worker’s 35 highest earning years and delayed retirement credits between full retirement age and age 70 increase benefit amounts. Off-Farm Job Employer Benefits - These include a defined benefit pension, an employer retirement savings plan (e.g., health insurance).
Money Talk
SEPTEMBER 14, 2023
Types of Tax-Deferred Accounts - These include employer-sponsored defined contribution plans (e.g., 401(k), 403(b), 457, thrift savings plan), Traditional IRAs funded with pre-tax dollars, simplified employee pensions (SEPs) for self-employed workers, and annuities.
Money Talk
MARCH 24, 2022
I recently taught a 90-minute personal finance class for women age 50+. About 90% of women will need to manage money alone at some point in their lives. ¨ “Through Retirement” Goals- Working age women often focus on “to retirement” goals (e.g., 401(k)s), tax-deferred accounts (e.g.,
Money Talk
MARCH 15, 2023
They are often bought with money from settlements, investment accounts, and pension plan lump sum distributions. What Not to Do - Annuities are generally not appropriate for qualified retirement plans such as 401(k)s or IRAs. Either type provides a guaranteed income stream subject to contract terms.
Money Talk
JANUARY 18, 2023
This includes Social Security recipients, retirees with COLA-adjusted pensions, and workers with COLAs stipulated in their job or union contracts. Increased Savings Contribution Limits - Maximum limits for employer retirement plans (e.g., 401(k)s) and IRAs are pegged to inflation. Many people fall into both camps.
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