Posts tagged "retirement plans"

ira penalty

Watch Out for Retirement Plan Penalties and Taxes When You Withdraw

If you plan to retire in 5 years, but have hit hard times, you may be tempted to dip into one of your retirement funds. Don’t unduly damage your retirement plan by randomly grabbing a distribution. Qualified retirement plans such as the 401(k), 403(b), 457, and an IRAs offer tax-deferred compounding of your savings which helps them grow faster than […]

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Posted by bobrichards - June 26, 2012 at 10:40 pm

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plan for retirement

Plan for Retirement: Retirement Options for Income

As soon as the sluggish economy recuperates, a possible labor shortage might cause employers to entice their experienced employees to not retire or to come out of retirement. While such a scenario seems not likely with unemployment near 9%, but demographics make the US ripe for a labor shortage and ripe for a plan for retirement that might include earning […]

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Posted by bobrichards - December 9, 2011 at 10:19 pm

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pension funds

Don’t Rush Decisions about your Pension Funds

As retirement day approaches, your company’s human resources division might prompt you regarding how to proceed with your pension funds. Family and co-workers will suggest a range of options. Nevertheless until you have a clear idea on how well you see yourself sailing through your retirement years, avoid making permanent decisions. Irreversible decisions are the ones that cause significant loss […]

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Posted by bobrichards - December 6, 2011 at 7:10 pm

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Eligible Plan and IRA Minimum Withdrawal

Qualified Plan and IRA Minimum Withdrawal

The intention behind creating qualified plans is to aid the workforce in saving a significant amount for their retirement. Many plans permit the tax-deductible contributions and tax-deferred growth during the accumulation years. On the whole, these programs require an IRA minimum withdrawal (often called IRA minimum distributions or RMD) at age 70½. RMDs are taxed as ordinary income. What exactly are […]

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Posted by bobrichards - June 2, 2011 at 10:54 am

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