Tag: 401 (k)

Taking a 401(k) Loan Can Be a Smart Move

Most financial planners say borrowing from your 401(k) is a bad idea, period. I disagree. Borrowing from your 401(k) plan can be a smart move if you need the money for a serious purpose, such as a home down payment or to pay down high-interest debt. But you must be sure you can pay off… Continue reading Taking a 401(k) Loan Can Be a Smart Move

3 Monumental Money Mistakes People Make Before They’re 50

The saying that youth is wasted on the young may be especially true when it comes to saving for retirement. “Too many people wait way too long to start thinking about how much they will need to finance their retirement,” says Chris Heerlein, partner at REAP Financial LLC and author of Money Won’t Buy Happiness… Continue reading 3 Monumental Money Mistakes People Make Before They’re 50

A Life Insurance Policy Could Be Your Retirement Salvation

Americans worry a lot about retirement. Will their savings hold out? Will Social Security still be around? Will healthcare costs gouge a great hole in their finances? What many of them may not be aware of, though, is that if handled correctly their life insurance policies could play a role in making retirement a little… Continue reading A Life Insurance Policy Could Be Your Retirement Salvation

What You and Your Financial Adviser Are Missing

Imagine a person who has invested a hefty sum of money and is in dire need of assistance managing that investment. And imagine that person’s financial advisor saying he or she can do little or nothing to help. For many Americans who are saving for retirement, that scenario is a reality. “A huge chunk of… Continue reading What You and Your Financial Adviser Are Missing