When it comes to 401(k) plans, most people are obsessed with filling theirs to the brim. Stashing more money away in a shorter time span is a great way to use a 401(k), but eventually you’re going to have to tap those funds. Like anything else to do with your retirement account, there are special […]
All posts tagged Penalty
Differences Between myRA, IRA (including Roth) and 401(k)
Retirement planning is an overwhelming proposition, whether you’re just starting out or looking into rolling over an account you’ve had for decades. Not only do the laws change year after year, but the many types of accounts seem like they should be much more similar than they are. Don’t worry, we’ve got you covered in […]
A few more 401(k) mistakes to avoid
Earlier, I wrote about some of the common 401(k) mistakes that that can hurt your retirement nest egg. In this article, I list a few more common 401(k) mistakes that every 401(k) participant should be aware of and avoid whenever possible. Borrowing from your 401(k) Consider the merits and demerits of borrowing from your 401(k) […]
Pros and Cons of borrowing from your 401(k)
Borrowing from 401(k) is the most attractive and widely practiced way of raising liquid cash at the time of need. Why is it so popular? Because it is perceived as the quickest, simplest and cheapest way to raise money and therefore people find it attractive and consider it as the ultimate choice to meet their […]