Retirement income management is all about making sure your retirement savings provide enough income for your needs, and that you don’t outlive your assets. This starts with setting up and managing a portfolio that's right for you.
When you retire, you begin to take income from your defined benefit pension or defined contribution plan. You may also take income from a Social Security account. Learn about the payout options from each source and what each means for your personal situation.
Managing a retirement account takes some work. Your plan administrator generally handles your portfolio's actual transactions and the recordkeeping and reporting, but you decide when and how to reallocate and rebalance your assets.Beyond keeping tabs on the performance of your portfolio, you’ll want to know your plan’s rules and procedures and how much your plan and its investments are
During the span of employment, it’s not uncommon for two situations to arise with respect to retirement savings: the potential need to borrow from your retirement account, and a change in employer that raises the question of whether to roll your assets into a new plan or an IRA.LoansIf you need cash, you might be tempted to borrow from your employer-sponsored plan rather than applying to a bank
FINRA:
Save-the-Max Calculator
Required Minimum Distribution Calculator
Annual Contribution Limits
Investor Insights: 5 Tips for Automatic Retirement Plan Investing
Investor Insights: The Beginner’s Guide to 401(k)s
Department of Labor:
A Look at 401(k) Fees
What You Should Know About Your Retirement Plan
IRS:
Retirement Plans
SEC:
Employment to
Becoming a new parent? Here are 5 tips that can help you create long- term financial plans that will help you achieve financial stability for your growing family.
If you plan to move after the military, keep these points in mind when making your housing decisions.
If you are thinking about rolling over money from your Thrift Savings Plan (TSP) into an IRA, take some time to consider your options—one of which is to stay put in the TSP, or even transfer money from another retirement account into your TSP.
The COVID-19 pandemic disrupted many facets of American life but did not derail a trend toward increasing financial capability. Still, not all Americans are benefiting equally from improvements in financial wellbeing, according to the new FINRA Foundation Financial Capability Study. On this episode we delve into the latest results of this nationwide, triennial study.
Service members have access to one of the lowest-cost ways to save for retirement.
