The 10 Best States To Retire Plus 5 To Avoid | 2022 Guide

Most people save for a lifetime so they can enjoy their retirement years. However, those savings go farther in some states than others. Millions of Americans are reaching retirement age each year, and many of them are making decisions about where to retire. Some choose to remain in the same place for various reasons, like Read more…

Cash Balance Plan: What Is It & How Does It Work | Full Guide

Pension plans are becoming harder to find these days when it comes to retirement planning. These plans typically cost more for employers, and more responsibility is being placed on the employee to contribute to retirement savings. Cash balance plans are a form of defined benefit plan that allows employers to place a certain percentage of Read more…

Profit Sharing Guide: What It Is & How It Works | Full Guide

A profit sharing plan is one kind of retirement plan that an employer may offer its employees. It allows the company to share part of the company’s profits with its employees thus giving them a sense of ownership in the company. This type of plan can be very lucrative for employees, though the employer has Read more…

Backdoor Roth IRA | What Is It & How It Works (Full Guide)

If you are familiar with retirement plans, then you probably already know how a traditional IRA works. Many people choose to place money into a Roth IRA so that they can enjoy the money tax-free at retirement. However, the IRS places income limits on the ability to contribute to a Roth IRA. So, what happens Read more…

401(a) Plan vs. 401(k) Plan: What Is The Difference? | Full Guide

  When it comes time to choose a retirement plan, the options can often be confusing. Since most retirement plans are employer-sponsored, the plans that are available to you might depend on your work situation. Many employees in the private sector have access to a 401k while those who work for educational institutions, government agencies, Read more…

401(a) Plan: What Is It? | Comprehensive Guide Inside

Unless you work for a government entity or a non-profit organization, you may have never even heard of a 401(a) plan. These plans are similar to 401(k) plans in some aspects, although there are a few major differences. The 401(a) can be a great way to save for retirement, so exactly how do they work? Read more…

403(b) Plan vs. 457(b) Plan: What’s The Difference? | (Full Guide)

Many people only associate retirement accounts with a 401(k) or an IRA. However, not all employers offer these retirement savings options. A 401(k) is generally only available to those employed in the private sector, so what about government employees and others who work in the public sector? Many employers in this space offer either a Read more…

403(b) Plan: What Is It? | Full Guide Inside

Retirement plans come in many different flavors and varieties. Each offers some unique advantages, while most also come with a few drawbacks. Your employer often plays a large role in which plans might be available to you to use for retirement savings. If you are a teacher, school administrator, government employee, doctor, or nurse, then Read more…