401k

By Byron Moore, posted February 20th, 2014

Question:  I just started a new job and the HR guy says I should put as much as I can into our 401K plan. He says I won't miss the money out of my paycheck, but I've got some debts I need to get paid off. Besides I really don't know anything about investing. I like the idea of getting it automatically done so I don't have to think about it. What do you think?

Answer: We love it when things are convenient.  

The following column was published in The News Star on Saturday, January 11, 2014.

Question: I will be retiring in a few years. I will have Social Security, money in my 401(k), some company stock I’ve acquired over the years and some cash. I think I’ll have enough, but I am not sure the best way to take out money when I need it. What’s the best way to take it out?

Answer: Last week, we began looking at the four most common ways to tap into your retirement funds for a regular income stream. We’ll do a quick recap, and then cover the third and fourth methods.

The following column was published in The News Star on Saturday, January 4, 2014.

Question: I will be retiring in a few years. I will have Social Security, money in my 401(k), some company stock I’ve acquired over the years and some cash. I think I’ll have enough, but I am not sure the best way to take out money when I need it. What’s the best way to take it out?

Answer: The best way is whatever method works best for you. It doesn’t matter what anyone else does.