If you have a 401(k) plan at work and need some cash, you might be tempted to borrow or withdraw money from it. But keep in mind that the purpose of a 401(k) is to save for retirement. Take money out of it now, and you’ll risk running out of money during retirement. You may also face stiff tax consequences and penalties for withdrawing money before age 59½. Still, if you’re facing a financial emergency—for instance, your child’s college tuition is almost due and your 401(k) is your only source of available funds—borrowing or withdrawing money from your 401(k) may be your only option.
In this installment of Client Conversations, the team at VESTED gets into old-world and modern-day tactics crooks use to steal from 401(k), 403(b), and other retirement accounts. From contacting financial institutions pretending to be the account holder to convincing the account holder to transfer funds out of the account—we’re exposing what you need to know to safeguard your accounts. Also included are insights on the potential age delay in RMDs. With change expected to become law by the end of the year or sometime in 2022, VESTED dives into the ways that the extra years could provide more time to strategize.
If movie review website Rotten Tomatoes’s readers are to be believed, the last decade was a golden age for moviemaking. In fact, 59 of the films in the website’s Top 100 Movies of All Time list were released during the 2010s.
Some investment objectives exist far over the horizon. Planning and investing for extremely long-term goals, such as multigenerational wealth planning for children, grandchildren, or philanthropic goals, often requires a different set of strategies, habits, and tools than those used for nearer-term goals. The greatest difference is not necessarily the types of investment strategies or vehicles employed. Rather, it lies in the mindset of the investor.
ou know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors.
Have you ever stretched out the seams of a one-size-fits-all shirt only to discover that no such thing exists? Well, the same holds true for planning for your financial independence in retirement. You will find that there are many shapes and sizes as you seek a financial future that suits your goals. Join our panel of financial advisors as they discuss how CAPTRUST can help you find the plan that is the right fit for you.
This webinar is a comprehensive discussion around planning for retirement. We will discuss Social Security benefits, healthcare planning with Medicare, creating income in retirement, and asset allocation strategies.
Did you start the year with a list of financial resolutions? Saving more and spending less? As well intentioned as you were, midyear is an excellent time to check in with yourself and make some adjustments to be sure you’re staying on course. In this webinar, we’ll share a few financial areas you should check in on and actions you can take now to get back on track if you have strayed.