If you have a 401k, I commend you for taking steps towards your retirement but it’s important that you have a understanding of the downsides of a 401k plan. First, I will talk about the upsides: 1. If your employer is matching your 401k, that is huge. It’s basically free money and I say collect […]
Tag Archives | 401k
Nearly Half of Americans are Not Saving for Retirement
According to this Yahoo! Finance article which quotes a LIMRA survey, almost half of those living in the US are not saving for retirement. This is a scary statistic for several reasons: 1. Social Security may not be around for ever. We have heard it for years and I am pretty confident the day will […]
Retirement Planning – Are You On Track?
Yesterday I had a chat with a friend who helps people with retirement planning strategies. We chatted about where I was in live, when I planned on retiring and how I was doing with my retirement planning. I have to say it was an eye opening conversation. I knew that I had taken some serious […]
Have You Tapped Into Your 401k Too Early?
Over the past several years, I have spoken to many people who have tapped into their 401k or other retirement accounts too soon. Some have done it to try and save homes from foreclosure, (only to lose them anyhow), others have done it to survive after losing a job, and others have done it for […]