Forgetting to take your first RMD by April 1 in the year after you turn 73 can result in a significant tax penalty. “If you ...

A 403 (b) plan allows you to save on a tax-advantaged basis, deferring taxes on your income and any investment earnings or ...

A George Mason University finance professor gamed out three common strategies on RMDs to find the best option.

Most people enter retirement without any idea how to manage withdrawing their savings without running out of money. Here is ...

Illinois The state has a flat state income tax of 4.95% and exempts from taxation nearly all retirement income, including Social Security, pensions and 401 (k) and IRA distributions.

Key takeaways An after-tax 401 (k) lets you contribute taxable dollars to an employer retirement plan once you’ve reached your annual limit.

Many retirees favor tax-deferred accounts like traditional IRAs for their long-term growth potential. However, once Required ...

Fortunately, understanding the tax code and employing a few savvy strategies can help you keep more of your nest egg. By ...

Learn about the loan limits and eligibility criteria for borrowing from your 401(k) plan. Understand how much you can borrow ...

Here are the 41 states that don’t tax Social Security income: ...

Understand the consequences of withdrawing money from a 401(k) or IRA retirement account for emergencies and create a plan to ...