Retirement

Compare Republican Presidential Candidates on the Issues

As I said yesterday, voters in six states have had their say on the 2008 presidential candidates. As always, the presidential election is important, but voters this year face very serious issues. No matter where you stand on the issues, it’s important to consider all the candidates and then choose the one who best matches your beliefs. In advance of Super Tuesday, I’m presenting summaries of the candidates’…
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Should You Switch to a Roth 401K?

The Roth 401K was introduced in 2006 as a counterpart to the Roth IRA. It was originally set to sunset in 2010, so most employers chose not to offer it. The sunset provision has been removed, so many employers are offering them this year. If your employer offers it, you should seriously consider switching into it. If your employer doesn’t offer it, campaign for it! It really is…
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How to Avoid Being a Victim of the Lost Decade

You may have heard references to the “lost decade” on the news. This isn’t related to the “lost generation,” which is either a group of post-WWI literati, or the post-WW1 generation. Instead, it’s the first decade of this century. The 2000s, the Aughts, whatever you want to call it, it pretty much sucked financially. While people who contributed regularly to retirement did earn returns, much of it came…
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The Benefits of the Roth IRA

Yesterday I wrote about the benefits of the Roth 401K, and mentioned that you can roll the money into a Roth IRA to avoid required minimum distributions. So now I should probably explain what a Roth IRA is and why you should have one. What Is a Roth IRA A Roth IRA as an individual retirement account that you can set-up without going through your employer. You can invest…
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Should You Max Out Retirement or Pay Off the Mortgage?

Making extra mortgage payments in order to cut the amount of interest paid is quite popular these days. The theory is that you’ll save interest and then be able to save money for other things later. But, I’m not sure this is the right approach if you’re not fully saving for retirement, because you’ll miss out on years of compound interest. Retirement Maximums This year, the maximum 401K…
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Rebalancing Your Retirement Plan

As we near the close of 2008, some people will consider adjusting their retirement plans. Although rebalancing may be unrealistic right now, there are some things you should consider. For example, if you don’t currently invest in a retirement plan, get one now. You may also discover that you have new retirement plans available, including a Roth 401K. If it’s available, it’s worth considering a switch. Enroll or…
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Compare Democratic Presidential Candidates on the Issues

So far, voters in six states have had their say on the 2008 presidential candidates, but there are some big votes coming. Super Tuesday is just eleven days away, and that could crown the nominees on both sides. No matter where you stand on the issues, it’s important to find the right candidate for you and vote accordingly. I won’t say whom I support; I will simply urge…
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