RETIREMENT PLANNING

If you have a 401(k) and are about to move to another job or now unemployed then you may be wondering what you should do with the money in your account.You could do a 401(k) rollover to an IRA or Roth IRA. Your other options could include leaving your money in your current 401(k) plan if your soon-to-be-former employer allows it. You could also transfer it over to your new company’s 401(k) plan.

You may also choose to cash it out–however doing so could cost you a lot of money, so the prudent thing to do would be to hold on to the 401(k) fund. If you do transfer it over to either a new 401(k) fund or an IRA, there could be penalties involved. Read on for some ideas on how to avoid 401(k) transfer penalties.

Since you enjoyed it so much the first time we brought you Yahoo! Answers money fails, here’s another batch of the best retirement and other financial answers on the Interwebs…not because they’re particularly useful, but because they’re so downright hilarious.

Establishing and contributing to a prudent retirement strategy should be incorporated into a monthly budget. If your current employer offers the benefit of a traditional 401(k) and a Roth 401(k) plan, you may want to take advantage of the Roth 401(k) because of the advantages it offers.

A Roth 401(k) plan is another tool that can and should be used to plan and build your retirement portfolio. Unlike traditionally 401(k) plans, the monetary contributions made to the investment are done after taxes are taken out.

Investing in a Roth IRA account may be the wisest way you save for retirement. There are many different ways that you can plan for your retirement, but putting your money in a savings account may not be the best plan for your future however. Not all IRA accounts are the same and you may be better off with a Roth IRA than a traditional one. Finding the best performing Roth IRA will also require you spend some time researching.

The goal of investing is to use the money you have to earn even more through returns. Whether you implement your investment strategy through stocks, bonds or mutual funds or a combination of securities, there are ways to increase your odds of gaining returns. When it comes to a 401(k), there are some simple steps you can take to help raise your chances of experiencing higher gains. You can also figure out how much your ideal nest egg should be with a retirement calculator and break down the return rate you’ll need to get there.

Steps to Improving Average 401(k) Return Rates

It doesn’t take a financially savvy person to know that taking advantage of an employer 401(k) plan is a must for building a future retirement portfolio. However, some would say it is difficult to choose between a Roth 401(k) plan and a traditional 401(k) plan.

In general, both accounts are similar to each other:

The 401(k) option of automatic enrollment offered by U.S. employers is helping young workers save enough for retirement, says Financial Engines, Inc. According to the California-based company, younger employees have better options available to help them save more responsibly and effectively for retirement.

Younger Workers Have Better Risk and Diversification Options

We all have financial milestones that we are likely to encounter as we move through life. How we handle these milestones depends on our individual situations, as well as our goals and financial priorities. No matter how you plan for them, though, these financial milestones are likely to be essential to your long-term financial stability. And, because they are big, they require a substantial amount of planning and saving. Here are some of the financial milestones you should be planning for:

1. Continuing Education

This post is written by Jason Topp. He tries to put readers on the right financial path at Redeeming Riches. Be sure to follow him on Twitter too!

Perhaps you’ve shared this experience: You’re on a two-lane road in the middle of nowhere traveling to a new destination, your GPS isn’t working (or you don’t have one!), you realize you are lost and you’re not sure which way to go. East seems West, North seems like it’s South. Fear and panic strike.

Are you thinking about taking an early retirement? If so, you’re not alone. Many people want to “jump ship” from the daily grind and really live life while they’re younger than 65. Of course, retiring early means you have to have plenty of money saved up in order to do it comfortably – life costs a lot of money no matter how old you are. In fact, it might cost more on average when you’re older because you need more help with things. One way that many people plan for early retirement is through the very popular savings vehicle of a Roth IRA. Like the regular IRA and the 401k, the Roth IRA was created specifically for retirement savings.

With a Roth IRA, you can access the amount of money you’ve contributed to it at any time. So if, for example, you’ve been putting in $1,000 per month, you can access the total of your contributions at any age. Since a Roth IRA is an investment fund, the money you put into it should grow as the money is invested.