Investing

Regardless of whether you’re 25 or 55, saving for retirement is a wise financial strategy. Everyone will face retirement at some point, either by choice or necessity. Whether you are on track for retirement savings or need to play catch up, or you’re a financial advisor who wants to give clients a leg up on
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While there is a wide array of investment accounts available to investors, one of the most common for employees is the 401(k). This account, which is the hallmark of the defined-contribution retirement plans that most employers provide, allows investors to make retirement contributions on a tax-deferred basis and direct the investment of those funds. Key
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Mandatory distribution refers to the minimum amount an individual must withdraw from certain types of tax-advantaged retirement accounts each year in order to avoid tax penalties. Mandatory distributions go into effect in the year an individual turns 70 ½ years old. The Internal Revenue Service’s official name for mandatory distributions is required minimum distributions, or
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In general, early withdrawals—before age 59½—from any type of qualified retirement account, such as IRAs and 401(k) plans, come with a 10% penalty, as well as any income taxes due, although there are some exceptions to this rule. Key Takeaways Contributions to traditional IRAs are tax deductible, earnings grow tax free, and withdrawals are subject
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Timing Is Everything After years of hard work, you’re certainly entitled to a happy retirement. You may have already started daydreaming about it, at least a little. Will you travel the world, volunteer for your favorite charity, go fishing, or spend more time with the grandkids? The possibilities are endless. Even so, many workers are
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Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Robinhood is no longer looking to become a federally insured bank. The stock-trading start-up announced Wednesday that it was pulling its bank charter application with the Office of the
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If you’re like the majority of people, you probably need to step up your retirement savings efforts. A recent report from the Government Accountability Office (GAO) found that the median retirement savings for Americans between age 55 and 64 was $107,000. The GAO notes this sum would only translate into a $310 monthly payment if it was invested in
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The North American Free Trade Agreement (NAFTA) is a pact eliminating most trade barriers between the U.S., Canada, and Mexico that went into effect on January 1, 1994. Some of its provisions were implemented immediately, while others were staggered over the 15 years that followed. Now in its 25th year, its future is in question. U.S. President Donald
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Byron Wien Olivia Michael | CNBC The stock market’s rally may be far from over as low interest rates keep valuations in an attractive place, according to Wall Street legend Byron Wien. “People complain that the market is overvalued but … with these interest rates, the market is really below fair value,” Wien, vice chairman
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First created in 1935 as part of President Franklin D. Roosevelt’s New Deal, the Social Security Administration (SSA)—originally called the Social Security Board—sprang out of a need to assist the millions of retired or elderly Americans who had lost everything in the Great Depression. It was also designed to help children, widows, and disabled persons
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There’s a lot of financial prep work that goes into buying a first home, and it’s important to be thorough. That begins with determining how much home you can afford, pulling together funds for a down payment and applying for a home loan. And it isn’t always easy. According to a survey by FREEandCLEAR, 75%
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In a perfect world, you would never have any stock market losses. All your investments would be hugely profitable, and you would never be down even $1. Unfortunately, it does not usually work out that way for anyone, not even Warren Buffett. However, one comforting note to remember whenever you do experience a loss is that
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Choosing a retirement community is a big decision. Your choice will affect your – or your loved one’s – finances, quality of life, and in many cases, health and longevity. Here’s an overview of the four main types of retirement communities, how they work, and their approximate cost. Independent Living Also called senior apartments or 55-plus
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How exactly is a Roth 401(k) taxed? The essence is that it doesn’t give you a tax deduction when you contribute like a standard 401(k). Instead, a Roth 401(k) is a type of employer-sponsored retirement plan that offers employees the ability to contribute after-tax dollars. The payoff is that withdrawals are tax-free in retirement. These
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If you want to establish a retirement plan for your business, you may want to consider establishing a Simplified Employee Pension (SEP). For starters, SEPs have a more liberal setup deadline than a qualified plan—those must be established by the end of your company’s plan year (December 31 for plans maintained on a calendar year).
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Today’s seesaw markets can be worrisome to investors saving for retirement. Watching account values rise and fall can cause you to feel anxious about your simplified employee pension (SEP) plan. However, your SEP has more advantages than disadvantages, even during times of market volatility. Saving More A SEP is a good retirement savings vehicle. However, rules limit
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Thinking about retiring in the Dominican Republic? That’s understandable. The Dominican Republic—or “the D.R.” as it’s known—offers white sand beaches, a warm climate, a stable infrastructure, good healthcare, and a low cost of living. Key Takeaways The Dominican government offers special incentives for retirees (and investors). The DR is one of the least expensive places
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The topic of Social Security is fraught with misinformation, which can prevent people from enjoying the full monies they are entitled to collect. This article offers clarity on this subject so that individuals may maximize their retirement income and achieve financial security throughout their golden years. Key Takeaways The longer one waits to collect benefits
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Howard Stern Kevin Mazur | Getty Images Liberty Media CEO Greg Maffei believes the company is well positioned to capitalize on the growing popularity of podcasts and other audio content. Maffei, who joined CNBC’s David Faber from Liberty’s investor day in New York, said that while there is competition for audio content, exclusive agreements should
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