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Entries Tagged as '401(k)'

How To Back Out Of Your IRA Before 59½ With No IRS Penalty

Want to retire early? The IRS hits you up with a 10 percent penalty for all withdrawals from your 401(k), IRA and other qualified retirement accounts prior to age 59 1/2. …with one exception. IRS rule 72(t) provides taxpayers an alternative to locking their qualified retirement account up until age 59½. Although caution should be [...]

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The Truth About Retirement Plans And Government Policy

Last year, the Wall Street Journal Reported: …there is a precedent when it comes to taxing those who have saved what lawmakers think of as “excessive.” From 1987 to 1997 they imposed a 15% excise tax on annual retirement-plan distributions over $150,000. The tax applied even if other rules forced the account holder to withdraw [...]

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The Truth About 401(k) Incentives

Does the free market work? Does it provide a way for individuals to save money for their future…whatever that future might be? Government-created tax favors are in place, allegedly, to help individuals save money for their future. Without these plans, the onerous taxing of savings would decimate one’s ability to save money. Why make long-term [...]

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The Problem With Accumulation Theory

Few financial planners truly understand the problems of the accumulation theory of financial planning. Financial planners are responsible for educating the public, and therefore the general public ends up adopting the views (in a broad sense) that are taught by advisers and large financial institutions. This, in turn, leads to the adoption of a financial [...]

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Roth vs 401(k): One More Time

This past week has been somewhat exciting. I spend some of my downtime reading other personal finance blogs. I recently came across a series of posts discussing the virtues and vices of the traditional 401(k) and the Roth IRA (or Roth 401(k)).  Just in case you’re not familiar with either type of retirement account, I’ll [...]

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