Authored By Kristin Altus, FoxBusiness Contributed by Teresa Kuhn. The cost to retire continues to increase as the Biden administration cracks down on "junk fees" in retirement investment advice. "Three years ago, if you had been aiming for retirement savings of, let's say, $500,000, in today's climate, with higher prices, you need more like $600,000," [...]
Jerry Yu "The Family Money Doctor". In this short video, Jerry looks at the dreaded "required minimum distribution" or RMD to see how this required withdrawal might be used to help retirees increase their income once they stop working. Discover more from Jerry Yu: https://www.youtube.com/watch?v=GTfRCTAo6x0
By Jerry Yu "The Family Money Doctor" Working people in the United States face a significant and growing retirement savings gap. By some estimates, over 57 million US-based workers cannot access an employer-based retirement plan. Several states have implemented what are known as Automatic Individual Retirement Account (AUTO-IRA) programs to resolve this issue. The goal [...]
"What should I do with my 401k when I retire?" Many people about to retire ask that question. In episode 6 of the "Fortify Your Financial Kingdom" podcast, America's "Family Money Doctor, Jerry Yu, provides some possible answers to the dilemma of what to do with your 401k when you leave your job. https://www.youtube.com/watch?v=q0YPPTzukVY&t=5s [...]
by Jerry Yu Reign Financial 401ks have numerous benefits and are critical to many people's retirement plans. However, 401ks have a few shortcomings that may make them problematic for some seniors. These plans may also pose issues for people who've changed jobs but decided to leave their 401k with that employer. If you fall into [...]
Many retirement planners advise their clients not to put an annuity in their qualified plan accounts. But is this always the best advice? By Daniel M. Stewart Stewart Wealth Advisors Many retirement planners steer their clients away from using annuity products in qualified plans,such as IRA accounts. Putting a tax-deferred annuity into a retirement [...]
"A new DOL ruling would ease existing restrictions on environmental, socially conscious investing by fund managers. Unfortunately, the track record for these funds is not that impressive so far." by Kenneth Reeves If you're like most Americans, the reasons you put money in your company's 401k or IRA are pretty straightforward. You want to grow [...]
Authored By Paul Mulholland/ The new final rule seeks to make ESG permissible for ERISA plans, but specific use will still need to play out, according to ERISA attorneys. Contributed by Kenneth Reeves The Department of Labor announced the final rule on ESG investment in ERISA-governed plans Tuesday, solidifying long-awaited permission to use environmental, social and governance analysis [...]
By Orlando McCall As you probably know, a 401(k) is a tax-deferred retirement account you can either get through an employer or on your own. You contribute money to the account in employer-sponsored plans, usually via a regular deduction from your paycheck. With a traditional 401k plan, your taxes on earnings are deferred until you [...]
Before choosing to include an annuity in your employer-sponsored plan, what are some things you should consider? By Sean Sparkman You may be aware that on January 1, 2020, Congress enacted a significant and far-reaching piece of retirement legislation. The Setting Every Community Up for Retirement Enhancement Act, known commonly as the SECURE Act, is one of [...]
