401 - Not OK?
The 401K is perhaps the most popular savings tool today. It comes with impressive sounding benefits such as ‘tax deferred savings’, and ‘no fee management’. Unfortunately, there are many factors you may not have realized when you signed up. Whether you currently have a 401K or are considering one, Jay Beattey’s book is a ‘must read’.
Congress passed the CARES act shortly after the Coronavirus outbreak. One feature of the Act allows those ‘impacted by the virus’ to withdraw up to $100,000 from a qualified plan (401k, IRA, and others), without the usually 10% penalty (for those under 59-1/2)....read more
CAMBRIDGE, MASSACHUSETTS - MARCH 12: Harvard Sophomore Jordan Di Verniero, 19, sits with her belongings in front of Eliot House before returning home to Ormond Beach, Florida, for the rest of the semester on March 12, 2020 in Cambridge, Massachusetts. Students have...read more
In today’s market, there are products and options that are far superior to the now 45 year-old qualified plan – plans that are not one-sided partnerships.read more
Bonds are generally regarded as tax-inefficient because the interest payments are always taxed as ordinary income – the highest rates in the code. Unless of course, you buy tax-free municipal bonds. But it turns out those aren’t so tax-free either.read more