Retirement is probably the number one thing most older Americans worry about.  The posts in this category are about retirement and qualified planning.  Retirement accounts are often referred to as qualified because that is how they are usually classified by the IRS.

What Are Your Options When You Inherit an IRA or Other Qualified Account?

Doing some research today I found a great chart produced by the IRS which highlights your options when a spouse or non-spouse inherits an IRA or other qualified Account. As you could imagine the decision you make could cost you and your family tens of thousands in an unneeded taxes. Two Examples of RMDs Gone Wrong with an Inherited IRA For example, if you name your spouse as beneficiary and no contingent beneficiary and your wife passes away what would happen? Your estate would be beneficiary and look above! The IRA will have to be distributed within 5 years, instead of the [...]

By |2014-05-29T23:23:33-04:00October 9th, 2013|Qualified/Retirement|0 Comments

Are You Miscalculating How Much You Need in Retirement? What is Life Expectancy

I have said it before that I am not a huge fan of the 4% safe withdrawal rate discussion.  It doesn't make a whole lot of sense to me.  What you are allowed to take out means nothing if you need the funds, but I digress to today's point - there is another part of retirement that is often miscalculated, Longevity and Life Expectancy. There seems to be confusion as to what life expectancy actually means when they are planning for retirement. What is Life Expectancy? Life expectancy at its simplest form is just giving you the average length you have left on [...]

By |2014-05-29T23:33:02-04:00October 3rd, 2013|Qualified/Retirement|2 Comments

What do the Chilean People Know About Retirement that Most Americans Don’t?

I came across an interesting article about Chile's retirement system which made me think that the population down there may be on to something that more Americans should take advantage of.  In fact, I find it mind boggling that we aren't, at least in part, following their lead.  In the article, Solving Chile's Annuity Puzzle, the author, Mr. Milevsky, highlights both how the system works and some interesting (to me) statistics: Chile mandates that all employees in the workforce must contribute at least 10% of their pre-tax salary into an individual account defined-contribution (DC) plan, managed through the payroll system. Within these [...]

By |2013-09-26T14:51:02-04:00September 18th, 2013|Qualified/Retirement|7 Comments

Will I ever Lose my 401k?

Post by SunCorp The 401k can be a great way to save towards your retirement, however, like many savings schemes, it can come with a few hiccups along the way, including the possibility to lose it all. The 401k allows employees to opt to take money out of their wage before tax is slapped on to the bottom line.  All plans vary but most offer a relatively fair level of control over where the money is invested, with many going for equity and bond funds (Evan's Note I hate My 401(k) Choices). One of the most beneficial factors of a 401k is [...]

By |2016-03-07T23:14:06-04:00July 26th, 2013|Qualified/Retirement|2 Comments

Another Reason I Hate my 401(k)

I have always had a pretty angry relationship with my 401(k).  On the one hand, I get a match of 100% up to 6% of my salary provided by the generous boss-men (anyone know why this is very common?), on the other hand my fund choices are terribly expensive.  I largely ignore the account only updating it once or twice in the past couple years. My 401(k) Over Charges me For Cash While I always knew my 401(k) was expensive in terms of fees, it became much more apparent when readers discussed reallocating and rebalancing my 401(k) with me a few months back.  But, [...]

By |2013-09-26T14:53:03-04:00March 21st, 2013|Qualified/Retirement|22 Comments