Retirement

If you’re self-employed, saving for retirement is your responsibility. Two common tools are SEP IRAs and annuities, but they work in different ways. An SEP IRA gives you tax advantages, control over investments and flexibility. An annuity offers guaranteed income, but usually with less access to your money and slower…

If you were born in 1958, 2025 is a milestone year. You’ll be turning 67, which marks your full retirement age (FRA) for Social Security benefits. This means you’re eligible to claim your full Social Security retirement benefit without reductions for early claiming. Many individuals in your age group are…

Cashing out a 401(k) at age 62 is allowed, but it comes with trade-offs many savers will want to consider. Withdrawals at this age avoid the 10% early withdrawal penalty, though income taxes still apply. Taking a lump sum of part of the account balance could offer immediate access to…

Saving for retirement is only half the battle. Once you leave the workforce, you’ll need a plan for turning your assets into a reliable income stream. Managing how you draw down your nest egg can be just as important as building it. For many retirees, creating sustainable, tax-efficient income is…

Reaching age 60 is a major financial milestone, particularly when it comes to your 401(k) retirement savings. While you can access your 401(k) without penalties after age 59.5, there are important rules, strategies and tax implications to keep in mind. As you near or enter retirement, you’ll likely begin to consider…

If you were born in May 1959, you are turning 66 in 2025. This puts you right at the doorstep of traditional retirement age. When you can retire depends on your Social Security eligibility, Medicare enrollment and, most importantly, your financial readiness. While age 66 is often associated with retirement,…

Many people who contribute to a 401(k) wonder if they can also make SEP IRA contributions. The answer depends on factors like employment status, income sources and how the SEP IRA is structured. Business owners and self-employed individuals often have more flexibility, while traditional employees generally cannot contribute directly to…

Wondering how much you should have in your 403(b) to retire comfortably? It’s a common question for educators, healthcare workers and employees of non-profit organizations who rely on these tax-advantaged retirement plans. The answer varies based on your desired retirement lifestyle, expected expenses, other income sources and retirement age. While…

A key question in retirement planning is how much of your income you’ll need to replace once you stop working. This figure, called the wage replacement rate, is a helpful retirement planning tool. It helps you estimate how much to save and what kinds of income sources to rely on.…

When building an investment strategy, your asset allocation is one of the most important decisions you will make. The Rule of 110 helps investors decide how much of their portfolio to allocate to stocks versus bonds based on their age. It is a helpful starting point for those looking to…