Tips for Avoiding an Early Withdrawal Penalty

Posted by Richard on September 6, 2016

If you take a taxable distribution from your IRA before age 59½, you generally will be required to pay a 10% additional federal tax. However, in certain situations, you may be able to avoid the imposition of the added tax. One little-known penalty exception is available to IRA owners who take substantially equal periodic payments […]

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Why More Americans Don’t Own Life Insurance

Posted by Richard on

It is well documented that Americans in general are underprepared financially for retirement. Yet less attention is given to the fact that life insurance — a standard supplemental vehicle to retirement accounts and other investments — is underutilized by all generations of retirement savers. Recent research conducted by Life Insurance and Market Research Association (LIMRA) […]

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Income Inequality and Its Impact on Women’s Retirement

Posted by Richard on

Here are the facts. Generally speaking, women earn less than men, live longer than men, and often take time out of the workforce to have children and/or to care for an aging parent or sick loved one. The potential consequence of these realities? While most U.S. workers are facing a retirement savings deficit, for women, […]

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Sell Your Employer Match

Posted by Richard on

Most 401(k) plan sponsors offer their employees some type of matching contributions. The most common match, according to the Plan Sponsor Council of America, is 50 cents for every dollar an employee contributes to the plan, up to 6% of compensation.1 The reason for offering this benefit is simple: The availability of matching contributions encourages […]

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