Our Weekly Blog

When does it make sense to apply early decision instead of early action?

First we need to understand how a 401(k) loan works. Basically a 401(k) loan is a loan from yourself. Effectively you become your own bank. This means that when you borrow, you are paying it back, with interest, to your own 401(k) account.

When one holds a balance on their credit card at 20% and can pay the balance off, it is like getting a 20% return.

Perhaps most concerning is that when people are thinking about retirement income sources, they believe that earnings from work and their employer’s 401(k) or 403(b) are going to be major sources of income in their retirement years. These were the two areas of biggest disappointment, especially work for pay.

First, these scammers are very good at what they do. They have done it many times before and will continue doing it many more times. They tend to catch people at times where they might not be thinking clearly, and they instill a sense of urgency.

If you are trying to make the world a better place, giving to charities is probably part of who you are. And, if you are fortunate enough to have accumulated a large retirement account, you may have a special opportunity to use your IRA or 401(k) to make gifts that can reduce your tax burden.