Category Archives: Retirement,401k

I Have a 401(k) From a Previous Employer. What Should I Do With It?

If you’ve changed jobs recently, don’t put off deciding what to do with your 401(k) for too long. While you have several options for your account when you leave a job, there’s an estimated 29.2 million 401(k)s that have been

This Is My First Year Taking RMDs. What Should I Do With the Money If I Don’t Need It Yet?

Anyone with a 401(k), traditional IRA or similar tax-deferred retirement account eventually is going to face the requirement to start taking required minimum distributions (RMDs) from their accounts. The IRS has allowed you to have what can be decades of

I’m 68 With $950k in an IRA. How Do I Make Sure It Lasts My Whole Life?

Longevity risk is at the heart of retirement planning. You wind down work and income, counting on savings to carry you through the rest of your life. But with careful saving and money management, it might be possible to make this

We’re 62 and Have $1.6 Million in Our 401(k)s. Should We Pivot to Roth Contributions?

By your early 60s, you’ll likely be paying close attention to your finances and retirement savings. This may include making crucial decisions on investment structure, risk tolerance, income needs and tax planning, among the many other moving parts of your

I’m 63 With a $1.6 Million Net Worth and $4,500 in Monthly Expenses. Can I Retire Now?

With a $1.6 million net worth and $4,500 in monthly expenses, retiring at 63 is a possibility, but quite a bit of that depends on your circumstances. The income your net worth will generate depends first on how much of

Is It Better to Take My RMD Later or Earlier in the Year? How Do I Decide?

People often think they don’t have any choice about taking the IRS-mandated required minimum distributions from their retirement accounts – but they do. While you can’t skip making the withdrawal they can choose how to time it in a way

I’m 60 With $1.5 Million in an IRA. How Do I Make Sure This Money Lasts the Rest of My Life?

Making your savings last through retirement can be complex in practice, but it really all comes down to your income vs. spending. In other words, it means understanding how much your portfolio can generate in a more risk-averse time in

We’re 60 and Have $2.5 Million in Our 401(k)s. Should We Pivot to Roth Contributions?

For the right person, a Roth IRA can be a fantastic retirement savings vehicle over the long term. So much so that it might seem to some that it’s always the right choice, no matter what. After all, tax-free income does

I’m 59 With a $1.4 Million Net Worth and $5k in Monthly Expenses. Can I Retire Now?

When thinking about whether you’re financially prepared to retire or not, you’ll want to think about it in a certain way. You have a lifestyle that you would like to maintain, and a portfolio that can safely generate a specific

I Will Make $200k This Year. How Can I Use a Backdoor Roth to Avoid Taxes in Retirement?

If you’re a relatively high earner, you might be locked out of making Roth IRA contributions due to the account’s associated income caps. In that case, you can instead consider a conversion, otherwise known as a “backdoor Roth.” The advantage