Dave Ramsey is a popular personal finance personality, and he's got some great advice about paying back debt. But his advice about retirement planning leaves a lot to be desired. Specifically, there are three ways Ramsey is steering his readers and listeners wrong about preparing for their later years. And the advice he gives on these issues could be costly and damaging. Here … [Read more...] about 3 Things Dave Ramsey Gets Really Wrong About Retirement Savings
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Schwab Retirement Plan Services Launches My Financial Guide to Help Workers Take Control of Their Financial Lives
WESTLAKE, Texas--(BUSINESS WIRE)--Schwab Retirement Plan Services announced today the launch of an interactive, online dashboard designed to help retirement plan participants save and invest. My Financial Guide walks participants through a financial health assessment using straightforward questions most workers can answer without having to look at their financial records. The … [Read more...] about Schwab Retirement Plan Services Launches My Financial Guide to Help Workers Take Control of Their Financial Lives
5 Simple Moves to Shift Your Retirement Savings Into Overdrive
It's good practice to constantly search for new ways to optimize your strategy around saving for retirement. By making small changes today, you're setting yourself up for a more comfortable financial future. Here, we'll look at five simple ways to put your retirement savings into another gear. 1. Look into IRA options Remember that your employer-sponsored retirement savings … [Read more...] about 5 Simple Moves to Shift Your Retirement Savings Into Overdrive
Can You Retire a Millionaire With an IRA Alone?
Workers with access to a 401(k) plan get to reap a number of important benefits. First, 401(k) plans often come with employer matches. Workers who contribute to those plans commonly get free money that can help them grow their balances substantially. Secondly, 401(k) plans come with generous annual contribution limits. Currently, those sit at $19,500 for workers under 50, and … [Read more...] about Can You Retire a Millionaire With an IRA Alone?
Worried About Higher Taxes in Retirement? Strategize Now.
A man holds a cooking pot lid in front of his face. Getty Images Amid all the speculation about taxes possibly going up in the future, your best course of action may be to incorporate tax strategies in your financial plan geared toward retirement.There are two important questions to ask yourself:How much of your income will be taxable in retirement? That includes Social … [Read more...] about Worried About Higher Taxes in Retirement? Strategize Now.