Approximately 69 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits.1 Although most people receiving Social Security are retired, you and your family members may be eligible for benefits...
There are two types of rollovers: direct and indirect. A direct rollover is paid from your plan directly to your IRA or to your new employer's retirement plan. The funds are never payable to you. An indirect (60-day) rollover is a payment made to you that you later...
Even if you won't depend on Social Security to survive, the benefits could amount to a meaningful portion of your retirement income.Social Security is a pay-as-you-go system, which means today's workers are paying taxes for the benefits received by today's retirees....
Retirement: a state of mind Don't underestimate the psychological issues involved in deciding when to retire. Many people welcome the opportunity to reinvent themselves. Others postpone retirement or return to some form of work so they can continue to feel connected...
If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It’s important to understand your options.
Married couples often decide together that one spouse should be the primary breadwinner while the other stays home to take care of family members. Although this often works out well for childrearing or eldercare responsibilities in the short term, it can present long-term retirement-planning risks for the stay-at-home spouse. For this reason, couples should familiarize themselves with a few spousal rules related to retirement plans.
An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a 401(k) or other plan at work, you might also consider...
Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you’re not participating in it, you should be. Once you’re participating in a plan, try to take full advantage of it.
You may have heard that IRAs and employer-sponsored plans [e.g., 401(k)s] are the best ways to invest for retirement. That’s true for many people, but what if you’ve maxed out your contributions to those accounts and want to save more? An annuity may be an appropriate investment to look into.