Here are 5 ways to increase your 401k performance. 1. Wise up. Other than reducing 401k fees, the first (and most important) way to increase your 401k performance is to know what the performance really is. Many people don’t. They just gauge performance by comparing the bottom line from one period to the next. This […]
Retirement Planning
This category is the heart and soul of Wealth Pilgrim. Here you’ll find a host of information created to help you reach your retirement goals and enjoy the journey. These are nuts-and-bolts articles to help you understand where you are now, identify where you want to be and when you want to get there, and design a roadmap to help you do so.
What Are the Best Investments for Retirement Income?
If you’re looking for the best investments for retirement income, you’re not alone. With interest rates so low, lots of folks are asking themselves which are the best retirement investments to make right now. As I see it, there are still some good alternatives: 1. A Component Of Equity In Your Portfolio Remember, just because […]
IRA Beneficiary Rules to Protect Your Family
There are a few IRA beneficiary rules you need to know that can save your family money and grief. The first and most important rule is that your beneficiary form determines who gets your money when you are gone. It doesn’t matter if you have a family trust or will. The beneficiary form rules supreme. […]
Which Is Better – 403b or IRA?
A reader was thinking about her retirement income planning and needed to decide between contributing to a 403b versus an IRA. First, what is a 403b? These are retirement accounts available to certain employees. Basically, if you work for an educational institution, civil government or certain nonprofit organizations, your employer probably offers a 403b […]
Smart Retirement Income Planning When the Market Is Terrible
When the market is rough and interest rates are low, retirement income planning can seem all but impossible. At such a point, it’s easy to actually slip into a depression. I’ve seen it before. But I’ve assembled a list of ideas that just might turn your retirement nightmares into very sweet dreams: 1. Check Your […]
Best Retirement Plans for Self-Employed People
If you are self-employed you can open a variety of retirement plans. But which is best? I received an e-mail from Linda. She loves being self-employed, but she has a good question: I’ve been wondering about restrictions on multiple retirement accounts. I’m young and I max out my Roth IRA every year. I’m self-employed and […]