Retirement Savings

The Internal Revenue Service (IRS) means business. The federal agency tasked with collecting taxes has spent decades honing and fine tuning their rules. These include the rules around contributions to savings vehicles such as an Individual Retirement Account (IRA). If you follow the rules, you could be on a path to a sound retirement with […]

You may or may not already know this, but it’s possible to borrow from your own 401(k) retirement fund. It’s hardly ever a great idea, though. You’re really only taking away from your own financial future. The money you borrow is really already yours. Except once you borrow it, it will no longer be invested […]

Mortgages, car payments, insurance, utility bills, and other everyday expenses. It all piles up so quickly. All too often, you’ll feel like saving for retirement seems like a distant priority. However, a startling one-third of Americans have less than $5,000 put away for their post-work years. Even worse, roughly 21% have nothing saved at all. […]

The accepted wisdom in financial circles is that you should never take money from a retirement account early. Most advisers are strictly against the idea of withdrawing funds from a 401K, IRA, RRSP or TFSA. They will say it’s the same as stealing from yourself. And your future. However, the reality is that life happens. […]