Choices for Your 401(k) at a Former Employer
One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what to do with their 401(k) account.¹
Individuals have three basic choices with the 401(k) account they accrued at a previous employer.
5 Benefits of Working in Retirement
A recent survey found that 17% of people were very confident about having enough money to live comfortably through their retirement years. At the same time, 36% were not confident.
Congress in 2001 passed a law that can help older workers make up for lost time. But few may understand how this generous offer can add up over time.
The “catch-up” provision allows workers who are over age 50 to make contributions to their qualified retirement plans in excess of the limits imposed on younger workers.
Now What Do I Do? [Retirement eBook]
In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002. As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits.
This question is most likely running through your mind as you consider retirement. While working, you learned to use a 401k, IRAs, and other retirement accounts to save for the future. You learned the advantages of tax deferral. You learned to invest your money or relied on someone to invest it for you. Most importantly, you learned the benefits of dedicating savings to retirement.