Saving for Retirement

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403(b) Tax Deduction Rules

403(b) retirement accounts are similar to 401(k) accounts. Like 401(k)s, they are set up by your employer and allow you to make tax-deferred contributions to your retirement. However, 403(b)s are available only to employees of participating government and not-for-profit ...

Ways Boomers Can Reduce Their Retirement Shortfall

Baby Boomers who near retirement might balk at the figures experts give when suggesting savings amounts. Jean Setzfand, writing for AARP, suggests when you reach 60 years of age, you should have nine times your annual salary saved in a retirement account. Boomers who fall short ...

How to Save for Retirement in My 20s vs. My 30s

If you start saving for retirement at a young age, you will have decades to set aside money and let it accrue interest. Ideally you should start saving in your 20s, and then alter your saving strategy with each decade. Create a sound retirement savings strategy for your 20s and ...

Can I Leave My Money in My Thrift Savings When I Retire?

The thrift savings plan, or TSP, is a retirement program for federal employees, including members of the military services. It is similar to a traditional individual retirement account or an employer's 401(k) plan. A TSP offers investment options with low fees, and contributions ...

How to Transfer Ownership of an Annuity in a Trust

An annuity is one way to save for retirement that offers some tax advantages that differ from commonly used retirement accounts, such as an IRA or an employer-sponsored 401(k). The primary tax benefit of an annuity is that your account earnings are tax deferred -- that is, you ...

How Much Should You Have in Savings?

While you can take pride in earning enough to pay your bills, financial experts say you should aim higher. You need to set aside two types of savings: retirement money and a rainy-day fund. Your retirement fund contains money you never touch until retirement. Your rainy-day fund ...

How to Fund Your Own Pension

With interest rates at or near all-time lows, saving for retirement is more critical than ever. But it is very difficult for investors to get a meaningful return on their money at acceptable levels of risk. Today's savers need every tax break they can get to accumulate ...

How Many Roth IRA Contributions Are Allowed?

Roth individual retirement accounts were created to provide additional tax benefits that traditional IRAs do not. Traditional IRAs are tax-deductible in the tax year the contribution is made. Contributions and investment gains accrue tax-free, but all withdrawals are taxable, no ...

Can I Defer Payment From My Variable Annuity?

All annuities – both variable and fixed – provide income insurance for life. However, unlike a fixed annuity where you realize a set return on your investment and know at the time of purchase how much you can expect to receive each month, the rate of return on a variable annuity ...

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