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can I retire on 500k nest egg

Can I Retire on 500k?

It is possible to retire on 500k in retirement savings, but you’ll need to do some careful planning. There aren’t many universal answers to retirement questions like this one. You need an individualized answer. I’m going to show you a simple process for answering this question. Whether you can or not depends largely on how …

Does Employer Match Count Towards 401k Limit

Does Employer Match Count Towards 401k Limit?

There are two different annual limits on 401k contributions. The elective deferrals limit, and the annual additions limit. Your employer match counts toward one, but not the other. Elective Deferrals Limit The money that you have withheld from your pay to go into your retirement account is an elective deferral. You might see this called …

what is an in-kind distribution

What is an In-Kind Distribution?

In-kind distributions can sometimes provide tax or other benefits that a cash distribution doesn’t. So what is an in-kind distribution? Any distribution NOT made in cash. For a retirement account, that would typically be a distribution of stocks, bonds, mutual funds, or ETFs. In the case of an inheritance that would mean you would receive …

Is $600,000 Enough to Retire?

Is $600,000 Enough to Retire?

If you have $600,000 saved toward retirement can you retire? It may be possible. It really all depends on what is important to you in retirement and how much income you need for a comfortable retirement. To figure out if $600,000, or any amount, is enough for you to retire on you’ll need to consider …

Man Checking Asset Location

Asset Location is Important Too

That’s not a typo. Asset location is an often overlooked aspect of retirement planning. That is unfortunate because asset location can significantly affect the after-tax value of your retirement income. I’ll explain what asset location means and how you can use that information to increase your retirement income.

Is a Solo 401(k) Right for You?

As a self-employed solo entrepreneur, you need to save for retirement just like everyone else. However, you don’t have the benefit of a 401(k) retirement savings plan offered by an employer. It’s all on you to research, establish, and contribute to your own plan for retirement savings. Fortunately, the Internal Revenue Service (IRS) offers several …

Planning for a Dynamic, Non-Traditional, Retirement

There are several key points to consider if you’re interested in a non-traditional retirement or one involving a second career. With the booming innovation economy and rapidly expanding communication technology, people are no longer restricted to one career or even location. Traditional methods of financial planning focus on wealth and capital accumulation during the working …