Q&A
Asked by Alan
Answered by Alex Bentley, Financial AdviserPRO+ in Pacific Palisades, CA
I would suggest you review this link to the IRS and also consult your accountant http://www.irs.gov/Retirement-Plans/One-Partic ipant-401(k)-Plans. It is a 401K plan ...
Q&A
Asked by an anonymous user
Answered by Alex Bentley, Financial AdviserPRO+ in Pacific Palisades, CA
This country has made a revolutionary shift from pensions to a self-service retirement model (401Ks, IRAs, etc). The average baby boomer has not yet fully adjusted to...
Q&A
Asked by victor piediscalzo
Answered by Tracy Scott Burke, CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement account would likely be best in your situation in lieu of bank savings. If you have acces...
Q&A
Asked by Brady
Answered by Winnie Sun, Financial AdviserPRO+ in Irvine, CA
Michael did an excellent job answering this question. You may want to take advantage of this change to also update your retirement plan. Since two of the above three o...
Q&A
Asked by John
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
I always advise 401k participants to max fund their account regardless of the match level. This means $17,500 per year if you are under 50 and $23,000 if you are 50 o...
Q&A
Asked by Brady
Answered by Martin Leclerc, Financial Adviser in Bryn Mawr, PA
A pre-tax contribution is the amount taken from your gross wage and placed into your 401k account before taxes have been deducted. By making pre-tax contributions, you...
Q&A
Asked by John
Answered by Winnie Sun, Financial AdviserPRO+ in Irvine, CA
I like rolling old 401(k)'s into one IRA, because it's easier to manage and keep track of. There are other reasons you may, may not want to do this, and it's best to b...
Q&A
Asked by Lynn
Answered by Prateek Mehrotra, Financial Adviser in Appleton, WI
The short answer is YES. The Employer is the sponsor of the 401(K) plan and most likely a fiduciary as well. They can decide to change the line up of investment option...
Q&A
Asked by Kathleen
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
The simple answer is yes you do. You need to take maximum advantage of all of your retirement savings opportunities: 401k (pre and post tax) and IRAs (preferably a Ro...
Q&A
Asked by Lynn
Answered by Tracy Scott Burke, CFP®, ChFC® in Harrisburg, PA
Hi Lynn, Rebalancing your 401(k) is a good idea. As an example, assume your 401(k) has an initial asset allocation of 50% stocks/50% bonds. If the stock market do...
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