IRA vs 401k

Retirement Options

Roth IRA

Personal Finance Guide for Military Service Members and Families

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Certain aspects of personal finance are universal. Whether you’re in the military or a civilian, you need to spend less than you earn, stash some money in your emergency fund for expenses that are bigger than your monthly cash flow can cover, and invest for retirement. You also need various forms of insurance to protect your assets and your loved ones. However, certain … [Read more...] about Personal Finance Guide for Military Service Members and Families

3 Drawbacks of Only Using a 401(k) for Retirement

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401(k)s are widely considered to be one of the best retirement savings accounts for a lot of good reasons. They have high contribution limits, you can automate your contributions, and if you're lucky, your employer will chip in too. But despite all of its advantages, a 401(k) isn't always the best place to stash your retirement savings. Weigh the following three drawbacks … [Read more...] about 3 Drawbacks of Only Using a 401(k) for Retirement

RMDs Are Back: Here Is How To Soften The Tax Blow – Tax

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To provide some relief during the COVID-19 pandemic, the CARES Act suspended required minimum distributions (RMDs) from traditional IRAs and employer-sponsored retirement plans for 2020. No such relief is available in 2021. Therefore, many retirees will need to take taxable RMDs by the end of this year. Fortunately, a couple of strategies are available … [Read more...] about RMDs Are Back: Here Is How To Soften The Tax Blow – Tax

Want to Build Wealth? Here’s How to Get Started

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Millennials have been struggling to generate wealth when compared to previous generations, with the average Baby Boomer holding up to 7x the wealth of Millennials at the same age. Add in the pandemic, and financial futures of “the unluckiest generation in U.S. history” are grim. According to a recent survey from Deloitte, two-thirds of Millennials “often worry or get stressed” … [Read more...] about Want to Build Wealth? Here’s How to Get Started