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According to a Morningstar Inc. recommendation released this week, a new retiree can safely withdraw 4% of retirement savings annually over the next three decades without emptying the till.
A 401(k) retirement plan can also be especially useful for people who want to put retirement savings on autopilot. To consider : Sometimes 401(k) plans have account maintenance or other fees.
The 401(k) plan — or its cousin, the 403(b) for government employees — provides a great way to save for retirement and comes in two varieties: the traditional 401(k) and the Roth 401(k):
Many plans offer Roth IRA option with contributions made after tax and withdrawals are tax-free. 457(b): These are plans that are typically for government and some nonprofit employees.
Finke compared some common retirement spending methods, specifically the 4% rule, the four-box method, and the Social Security/RMD strategy. An RMD, or required minimum distribution, is the ...
Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist, and the author of 14 books, including "In Control at 50+: How to Succeed in The New World of Work ...
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