Skipping meals. Doing without important medications. Struggling to pay for a place to live. Those are the kinds of things you’ll face as someone who retires without a nest egg. And in many cases, retirement is involuntary. Even greeters get laid off.
So if you think you can’t afford to start building a nest egg now, think again. » Read more
You might be thinking of cashing out your 401k when leaving a job. It can be especially tempting to do so in two circumstances: when there’s “only a little bit” in the 401k, and when there’s a whole lot of money in it. If you’re doing a hardship withdrawal as a last resort — such as to stave off foreclosure or feed your family — that can be another matter, but there are still things you should be aware of. » Read more
A 401k is a great benefit, especially if your company matches a portion of it. Saving for retirement is extremely important, and a 401k allows you to do that pretty painlessly. But what happens to the money in it when you leave your job before retirement age, either voluntarily or due to a layoff? » Read more
My high school German teacher hated it when people were late to class. But, there always seemed to be one smart-aleck student who would come in late anyway, announcing “better late than never”.
“But better never late”, my teacher would reply.
That same idea can be applied to funding retirement. » Read more