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Determining what to do with an old 401(k) is an important decision, but it does not have to be complicated. The Wall Street Journal recently reported about 30% of workers leaving jobs elect to cash out their 401(k) accounts and pay taxes – and often 10% penalties! Is that the smartest option?
The past week has seen volatility creep back into the stock market, and after a long run of positive returns, investors now have to ponder how much risk is too much. What should you do?
As financial planners and investment advisors, we see mistakes that employees make when handling their 401(k)s. Four such mistakes standout as having the greatest impact on a comfortable versus not-so comfortable retirement.
Are you self-employed and saving for retirement? Are you sure you’re getting the most bang for your buck with the retirement vehicle you’ve chosen? If you meet certain requirements, a Solo 401(k) could be right for you – allowing you to save more for your future retirement and receive a larger income tax deduction today! Read on to discover the benefits a Solo 401(k) could bring to you now and in the future.