If you have a 401(k) plan at work and need some cash, you might be tempted to borrow or withdraw money from it. But keep in mind that the purpose of a 401(k) is to save for retirement. Take money out of it now, and you’ll risk running out of money during retirement. You may also face stiff tax consequences and penalties for withdrawing money before age 59½. Still, if you’re facing a financial emergency—for instance, your child’s college tuition is almost due and your 401(k) is your only source of available funds—borrowing or withdrawing money from your 401(k) may be your only option.
Medicare won’t cover all of your healthcare costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Original Medicare, helping you fill the gaps in your Medicare coverage.
Approaching 65 and unsure about how to get started with Medicare? Then tune in for an overview of the various Medicare plans, as well as a discussion about timing for enrollment.
Think you’re ready to retire? In the next episode of CAPTRUST’s video series, Lessons in Financial Experiences (LIFE), we share ten tips to help to prepare you for a successful retirement.
Whether you’re in your 20s, 50s, or somewhere in between, it’s never too early to start thinking about how to create income when you leave the workforce. In this webinar recording, we identify various income options that you might have available, as well as how they work and how to prepare for the unexpected.
The economy is roaring back to life and we are entering a new phase of growth, much like we did 100 years ago during the Roaring Twenties. But there are still a few wildcards that could significantly change the landscape in the second half of the year. Watch this edition of CAPTRUST’s Market Update to learn more about these unknowns and their potential impacts on the economy.
In this article, we confront the debate surrounding the digital phenomenon known as Bitcoin—what it is, what it isn’t, and what U.S. Treasury Secretary Janet Yellen is saying about it.
At some point, many of us will need to take on responsibility for an aging loved one. And when that time comes, there is an enormous amount of pressure to consider all factors and make the best decisions regarding his or her health and finances. Where will your mother, father, wife, or husband receive the highest-quality care? Where will he or she be treated like a resident, not just a patient? Where is the cleanest skilled nursing facility with the best food? Where will your loved one feel safe?
