401(k) Archives - 2009 Tax to 2023 Tax

5 Investment Strategies For Beginners

May 14, 2021May 25, 2012 by Nancy

An investment strategy can be defined as a stratagem or approach that will help an investor select an investment opportunity (read stock) that has a good return on investment, or one that has proven to be a good investment opportunity. While most of the investment strategies for beginners will focus on tried and tested methods that have worked for others, by the end of the day, it always boils down to what the beginner investor can be able to work with to diversify their investment portfolio.

It is therefore correct to say that the many different investment strategies would … Read more at 2009 Tax.

Dealing with Social Security Uncertainty

November 12, 2020January 14, 2012 by Steve

Recent reports published in Daily Finance suggest that the Social Security trust fund is going to begin its collapse around the year 2036. This means that you have about 24 years to adjust your planning and savings to compensate for this problem. This really is adequate time for most people to figure out how to make up the difference between what Social Security promises and what it will be able to deliver.

Tip #1 – Understand the Predictions

Before you panic you need to understand what the predictions about the Social Security trust fund are and how they will impact … Read more at 2009 Tax.

Using Your 401k to Start a Business

November 12, 2020November 21, 2011 by Steve

Starting your own business allows you flexibility and control of your financial future. While the thought of writing yourself a check from 401k funds to start a business may sound easy, there are several steps to consider while thoroughly reviewing the process. There are tax penalties to understand and if your business doesn’t pan out as well as you had hoped, you could lose more than your retirement funds.

The use of additional resources such as a financial planner or a retirement plan administrator will help you review options. You may have the option to roll over 401k funds into … Read more at 2009 Tax.

Why Look for a 401k Investment Advice?

May 14, 2021April 30, 2011 by Steve

Almost all people want to be secured when they retire from work. The 401k is one vehicle that can help you to be financially secure when you retire. This retirement savings plan is part of the US government program for employees to have savings that is tax deferred and could invest earnings in saving. The money or contribution are sponsored by employers wherein the workers choose to have a portion of their salary paid into their individual 401k account where it can grow until retirement.

The 401k retirement plan has a lot of good things to offer you. If … Read more at 2009 Tax.

Advantages of a Rollover 401k

May 14, 2021March 4, 2011 by Steve

There are many reasons why a person leaves his or her job. It could be for a change of career, or to go for better employment options with a bigger salary and benefits. But whatever the reason, leaving a job will surely bring about a lot of change and difficulties. If you have stayed in your previous job for a long time, chances are you have invested in your employer’s retirement plan, usually a 401k. Now that you have left your job, you have free reign as to how you want your invested 401k funds to be utilized. A … Read more at 2009 Tax.

Learn the Roth IRA Withdrawal Rules and Penalties

May 14, 2021January 20, 2011 by Steve

There are numerous retirement accounts available, but one of the most popular is Roth IRA. This is not surprising as there are a lot of advantages of Roth IRA compared to its counterparts. But to fully avail of its benefits, it’s great to know about Roth IRA withdrawal rules, too. This is the ultimate way to avoid unexpected taxes and penalties that could arise if you happen to withdraw funds that are not yet qualified distribution.

One of the least known Roth IRA withdrawal rules is that you can withdraw your principal contribution without any taxes or penalties. This is … Read more at 2009 Tax.