Can you make tax-free withdrawals from your 401(k)?

June 30, 2024 No Comments

A: Depending on what type of 401(k) account you have and your age, you may be able to withdraw funds tax-free. However, if you have a traditional 401(k) funded with pretax dollars, or you take a distribution prior to age 59.5, you will likely be

Can you make tax-free withdrawals from your 401(k)?

July 7, 2024 No Comments

Coverting your 403(b) to 401(k)

June 30, 2024 No Comments

A: The IRS says that you can roll a 403(b) plan into a 401(k) plan if you now work for an employer that offers a 401(k). You can also roll a 403(b) plan into a solo or independent 401(k) plan if you are self-employed. However,

Coverting your 403(b) to 401(k)

July 7, 2024 No Comments

Designating a Trust as Retirement Beneficiary

June 30, 2024 No Comments

It is very common for IRA owners to designate a trust as the beneficiary of the account. A trust is a popular designation because it generally gives the IRA owner some degree of control over how the assets are distributed after he or she is

Designating a Trust as Retirement Beneficiary

July 7, 2024 No Comments

Do 401(k) savings earn interest? v

June 30, 2024 No Comments

A: While there is a wide array of investment accounts available to investors, one of the most common for employees is the 401(k). This account, which is the hallmark of the defined contribution retirement plans that most employers provide, allows investors to make retirement contributions

Do 401(k) savings earn interest? v

July 7, 2024 No Comments

Do 401k contributions reduce AGI and/or MAGI?

June 30, 2024 No Comments

A: Traditional 401(k) contributions effectively reduce both adjusted gross income (AGI) and modified adjusted gross income (MAGI). Participants are able to defer a portion of their salaries and claim tax deductions for that year. A Roth 401(k), similarly to a Roth IRA, is funded through

Do 401k contributions reduce AGI and/or MAGI?

July 7, 2024 No Comments

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