72t Articles
Is it Better to Withdraw from a 401(k) or Borrow?
One of the most common dilemmas faced by individuals is whether to withdraw from their 401(k) or borrow. This decision is often influenced by various factors such as immediate financial …
Should a Retiree Have a Financial Advisor?
Retirement is a significant milestone in one’s life, marking the end of a long journey of hard work and dedication. It’s also the beginning of a new phase where one …
What Happens to My Social Security if I Retire at 55? Understanding the Implications of Early Retirement
Retirement is a significant milestone in one’s life, and it’s crucial to plan for it wisely. One common question that arises when considering early retirement is, “What happens to my …
Why Use a Wealth Management Advisor?
In today’s fast-paced world, managing personal finances can be a challenging task. With an array of investment options and financial products available, it is easy to get overwhelmed. This is …
Understanding 72(t) Distributions: How are They Taxed and How to Set Them Up
Retirement planning can be a complex process, with a myriad of rules and regulations to navigate. One such rule is the 72(t) distribution, a method that allows you to access …
What are the Common Challenges of Wealth Management?
Wealth management is a critical aspect of financial planning that involves the strategic allocation and investment of assets to achieve specific financial goals. It is a comprehensive approach that combines …
Are 72(t) Distributions Considered Income? Understanding and Setting Up a 72(t) Distribution
When planning for retirement, it’s crucial to understand the various strategies and options available to you. One such strategy is the 72(t) SEPP distribution, an IRS approved rule that allows …
What is the Earliest Legal Retirement Age? Understanding Early Retirement
Retirement is a significant milestone in one’s life, marking the end of a long journey of hard work and dedication. It’s a time to relax, pursue hobbies, travel, or spend …
At What Point Should You Hire a Wealth Manager?
Wealth management is a crucial aspect of financial planning that often gets overlooked until it’s too late. It involves the strategic allocation of resources to ensure growth, security, and the …
Can I Retire Early But Not Collect Social Security?
The concept of early retirement is an appealing one for many individuals. The idea of leaving the workforce ahead of the traditional retirement age to enjoy more leisure time, pursue …
Can You Do a 72(t) While Working? Understanding the Intricacies of the 72(t) Tax Code
As you navigate your financial journey, you may come across various tax codes that can significantly impact your financial planning. One such tax code that often raises questions is the …
Can You Close Out a 401(k) Account While Still Employed? Understanding How to Access 401(k) Funds Early
The 401(k) retirement plan is a popular savings vehicle for many American workers. It offers significant tax advantages, allowing employees to contribute a portion of their pre-tax salary into the …
Can You Be Denied Early 401(k) Withdrawal? Understanding How to Access 401(k) Funds Early
A 401(k) plan is a retirement savings account that allows employees to invest a portion of their paycheck before taxes are taken out. However, there may come a time when …
How Much Money Should I Save to Retire Early?
The dream of retiring early is one that many people share. The idea of leaving the workforce while you’re still young enough to enjoy your golden years is appealing. However, …
How Much of My 401(k) Will I Get If I Withdraw Early? Understanding How to Access 401(k) Funds Early
Planning for retirement is a critical aspect of financial health, and a 401(k) plan is one of the most common tools Americans use to save for their golden years. However, …
What Age is Considered Early Retirement?
Retirement is a significant milestone in one’s life, marking the end of a long journey of hard work and dedication. It’s a time when you can finally kick back, relax, …
What is the Best Way to Save Money for Retirement?
Planning for retirement is a crucial aspect of financial management. The goal is to ensure that you can maintain your desired lifestyle even after you stop working. With the right …
Does My Employer Have to Approve My 401(k) Loan? Understanding How to Access 401(k) Funds Early
A 401(k) plan is a retirement savings account that allows an employee to invest a portion of their paycheck before taxes are taken out. The funds in the account are …