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Latest Personal Finance News

80% Rule for Retirement: How It Works and Example

Retirement planning often comes down to one big question. How much money will you really need to maintain your lifestyle…

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What Is a Group Annuity? Common Uses, Pros and Cons

A group annuity is a retirement savings contract typically offered through an employer that pools contributions from multiple participants to…

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Early Withdrawal Penalties for Annuities and Exceptions

Because annuities are designed to provide long-term income, accessing funds too early can trigger an annuity early withdrawal penalty. Insurance…

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Pension vs. 403(b): Pros and Cons for Each

Pensions and 403(b) plans represent two distinct ways to save for retirement, each with its own structure and advantages. A…

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I’m 63 With $1.35 Million in My IRA and a $2,200 Social Security Check. What’s My Retirement Budget?

By your 60s, most of your retirement foundation is already in place. While you may still have a few years…

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403(b) vs. Pension: Retirement Plan Comparison

A 403(b) plan is common in public schools, nonprofits and religious groups. It is a defined contribution plan where employees…

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Can I Withdraw From My 457 While Still Employed?

Planning for retirement often comes with questions about when and how you can tap into your savings. One such question…

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How Long Does It Take to Get a 401(k) Loan?

How long it takes to get a 401(k) loan can vary depending on your employer, plan administrator and whether your…

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Taxable Income vs. AGI: Key Differences and Examples

While taxable income and adjusted gross income (AGI) might sound similar, they refer to different stages of your income after…

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Can You Convert an Inherited IRA to a Roth? Rules and Taxes

Roth IRAs are known for tax-free growth and distributions in retirement. However, inherited IRAs come with their own rules and…

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