IRAs

Retirement accounts and money to spend

Posted April 8, 2009 - 09:54 by Philip Brewer

Personal Finance

Statue of Athena with an Owl in Chicago's Union Station

Everybody knows that retirement accounts like 401(k)s and IRAs offer great tax advantages (and once upon a time--and maybe again someday--a corporate match). But people who have plans to spend the money before they reach retirement age worry about the restrictions on early withdrawals that come with the various retirement plans. Here's a cheat-sheet for working the angles.

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Certainties: Death, Taxes, And Change

Posted March 3, 2008 - 06:50 by Julie Rains

Taxes

clouds moving and weather changing

What's certain about life: death, taxes, and changes in tax laws. So my best tax advice is "keep up with tax laws." Coasting along with financial vehicles and investment strategies aligned with outdated tax laws may be dangerous. Stir in frequent changes to your personal circumstances and you’ll cook up some not-so-great decisions. I'll discuss some rules that have changed for parents, homeowners, business owners, borrowers, investors, and anyone with plans to retire.

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Your 401(k) is not an investment

Posted August 15, 2007 - 03:21 by Philip Brewer

Investment

Your 401(k) is not an investment. Neither is your IRA. Those are legal compartments for holding investments. Your investments are the mutual funds, stocks, bonds, and so on that you've bought. The compartments are where you keep your investments. The distinction makes a difference. When you decide where to invest your money--what investments to buy--you should ignore the compartments. Deciding what compartment to use for each individual investment should come later.

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