#retirement plan rollover

[retirenowis]

A Strategic Approach to College Savings Using Life Insurance for Long-Term Financial Security

Saving for college is a significant financial commitment, and families are constantly seeking strategies to ease this burden. One often overlooked option is saving for college with life insurance. This strategy offers flexibility and financial stability since it not only creates a safety net but also lets cash worth increase with time. Understanding the benefits of a life insurance college fund strategy can help families create a versatile and effective college savings plan.

What is Saving for College with Life Insurance?

Using a permanent life insurance policy—such as whole life or universal life insurance—saving for college with life insurance means building cash worth over time. Permanent life insurance policies generate cash value that is accessible to the policyholder for the duration of their lifetime, whereas term life insurance only offers coverage for a predetermined time. This growing cash value can be borrowed against or withdrawn to help cover the costs of college tuition, books, or other educational expenses.

Why Consider a Life Insurance College Fund Strategy?

A life insurance college fund strategy offers several unique advantages over traditional savings plans. Unlike 529 plans or other college savings accounts, the cash value in a life insurance policy can be used for any purpose, not just education. This flexibility ensures that if your child decides not to attend college, the money can still be utilized for other significant financial goals. Furthermore, the cash value grows tax-deferred, making this strategy a valuable tool for building long-term wealth.

How Does Life Insurance Help with College Savings?

The life insurance college fund strategy is particularly appealing because of the potential for tax-advantaged growth. As premiums are paid into the policy, a portion goes toward building cash value. Over time, this cash value grows, and when it’s time to pay for college, the policyholder can borrow against or withdraw from it. Since loans from life insurance policies are not taxed, it’s a tax-efficient way to access funds for higher education.

Flexibility and Security in College Planning

Unlike traditional college savings vehicles, saving for college with life insurance provides more flexibility. In cases where a child may receive scholarships or choose an alternative career path, the funds in a 529 plan can face tax penalties if used for non-educational purposes. Life insurance, on the other hand, does not have this limitation. The cash value remains available for a wide range of uses, offering financial security beyond education.

Start Early for Maximum Benefits

Starting alife insurance college fund strategy early is crucial for maximizing the benefits. The earlier a policy is purchased, the more time the cash value has to accumulate. By the time college expenses arise, there will be a substantial amount available to cover educational costs. Additionally, starting early ensures lower premiums, making it a more affordable long-term solution for families planning for the future.

Conclusion

Saving for college with life insurance is a flexible and tax-efficient strategy that provides both financial security and peace of mind. With a life insurance college fund strategy, families can build wealth, ensure protection, and fund educational expenses without facing the restrictions of traditional savings plans. Visit retirenowis.com for professional advice to investigate how this strategy might be customized to meet your financial objectives.

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[bitchesgetriches]

Hi Bitches! I have a 401k (I think?) from Fidelity, from my old full-time job. I was looking into Capitalize, your sponsor. However, I might be going back to school full time soon. I no longer am putting money into my 401k from my current job, should I bother possibly rolling it over now, when it currently isn't even active and being used?

Y E S.

Here's the thing: even if you aren't putting money into your 401(k), Fidelity is still CHARGING YOU FEES to keep it open. Those fees come out of the interest your retirement account is earning. And because your old employer chose the Fidelity plan, you have NO CONTROL over what those fees are. So by leaving it alone, you're losing money.

Roll it over to the IRA of your choosing. Gain back control. Even if you don't contribute any money while you're in school, you'll still save money on the fees your old employer agreed to but you did not.

Here's our Capitalize link again: https://hicapitalize.com/bgr

How to Painlessly Run the Gauntlet of a 401k Rollover

[stevenhodgellc]

Sometimes,... You simply have to take a moment,... carefully and closely,... look at your finances,... as say,... I NEED HELP! WE DO THIS "EVERYDAY". stevenlhodge.com

[fuscoinsuranceagency]

The Benefits of Investing in Physical Gold with Fusco Insurance, Retirement & Wealth Planning Services

The Benefits of Investing in Physical Gold with Fusco Insurance, Retirement & Wealth Planning Services

The Timeless Appeal of Gold Investing in physical gold has long been considered a wise financial move for those looking to diversify their portfolios and safeguard their wealth. Unlike paper currency, gold has intrinsic value and has stood the test of time as a reliable store of value. Here are some key benefits of investing in physical gold: Hedge Against Inflation: Gold is often seen as a…

[nyfederalgoldbuildingwealth]

Thrift Savings Plan Account | Nyfederalgold

Are you looking for a company to provide you Thrift Savings Plan Account? Nyfederalgold will offer you the best plan that perfectly goes with your portfolio. We have a team of professionals and experienced employees who will help you in every step.

Visit here:- https://nyfederalgold.com/

[matoitech]

my current starter king whose retiring in a week who i barely customized besides bad luck rma’s but he’s almost at natural retirement age so i figure ill show him once before he dies. and then next to him is my heir set to take over for him, a clean g3 flint w primal fangs i bred myself :-) he’ll likely get some app markings once he’s kinged but i do like him simple how he is

the two guys on the bottom are work in progress heirs, i’m working on breeding g2-g3 clean smilus and frail pies i can mut rep with. waiting for the smilus’s mom to be in heat again so i can try a crunchy and hopefully successfully clone her. the black n white guy already exists i bred him recently (without the mut ofc) and liked him, he’d just need a base and skin changer and making his marks all 100% opacity. i thought that was only 1gb in the oasis but apparently it’s 2 for each mark. sad! anyway i’ll have months before i really NEED a heir but currently i plan on doing both these at some point, id need to just keep some submales on a side and not rollover.. i do really want a primal king still (it would be a lot easier to breed the smilus i need that way..) but that pie is so swag. really depends what order i get the mut reps bred tbh

[whentherewerebicycles]

good morning!!! I feel happy!!!! maybe I’m going to have a baby!!!!! here’s the day:

7-8 coffee, lounge, call dad

8-9 shower/get ready, make bagel sandwich for breakfast yum yum

9-10 grant mtg

10-11 workshop planning mtg

11-12 break—leave comments on AK draft, apply to tutoring job, email CT back, email HR about retirement rollover

12-1 plan kickoff activities and figure out what materials I need to create if any

1-2 CER infrastructure mtg

2-4 break—email SA, email KL’s contacts maybe, aaaaaa I don’t even want to have a committee it’s too much work putting it together

coffee shop with liz for a bit while she grades I guess I can 100% finish the kickoff planning so I’m not stressed about it later and maybe do some budget planning too

walk the dogs for an hour

do a 10 min all too well house tidy

set a timer and read for at least 30 min

9:30pm video call with M in korea!!

lights out zzzzz by 10

[bereft-of-frogs]

it is friday. there be list

this is going to be a mega-list because it always feels like the thanksgiving week is like one long weekend, so this is going to be like....a week list rather than a weekend list

🧽 friday-

- work??? why.

- eagerly await comments on the only Star Wars time travel fic I’ll ever write but like…pretend to be cool about it like I don’t even care and I’m not staring at the ao3 inbox like 👀 (I care a lot)

- I should probably do annual enrollment before I screw something up and lose my health insurance (I’m sure that’s not actually how it works I think my last years choices just rollover if I don’t do it but I should still look at it like a responsible adult who’s in charge of my health insurance and retirement account)

- laundry

- I actually really need to clean ✨everything✨ we’re having a Friday night cleaning party

- I would continue onto my last four rewrites but this week has been a lot for some reason (I know why actually, monthly in office days meant I had to go in 3x and there were all these other people there booo) so I think after cleaning I’m just going to watch a movie and knit

😴 saturday - sunday

- catch up on sleeps

- work on rewrites

🍂 monday - wednesday

- ideally FINISH last rewrites. I’d like to get them done so after thanksgiving I can shift into longfic mode so ideally they’ll be done by wednesday

- work but in that fun ‘no one’s really getting anything done because it’s a short week’ way

🧶 thursday - saturday

- parents house for holiday! bringing knitting so I’m planning just to work on my scarf and not do much else (try to avoid watching football 🙄)

📚 saturday - sunday

- last formatting / spelling and grammar edits

- shift into longfic mode

[bitchesgetriches]

How to Painlessly Run the Gauntlet of a 401k Rollover

If we’ve taught you nothing else here at Bitches Get Riches, it’s that you should:

sign up for your employer’s retirement plan and

job hop your way to a nice fat salary.

Yet these two bits of career advice might seem to conflict with one another. After all, if you’re job-hopping your way up the salary food-chain, you might be leaving a trail of old retirement plans behind you to languish. What do you do with your old 401k when you move on to a new employer, or even embrace self-employment?

Enter the 401k rollover: the most hateful, obnoxious, and needlessly complicated bureaucratic process known to man.

Today we’re not only going to demystify the process of how to roll over an employer-sponsored retirement plan like a 401k—we’re going to make it beautifully, sinfully painless. It’s going to be so much fun you guys!!!!!

Keep reading

If you liked this article, consider tipping us!

[stevenhodgellc]

Sometimes,... You simply have to take a moment,... carefully and closely,... look at your finances,... as say,... I NEED HELP! WE DO THIS "EVERYDAY". stevenlhodge.com

[msb-lair]

My initial plans for sandsurge breeding pairs. These are, in order:

Jocund and Blithe, gened up yesterday and sitting on a 2-egg clutch right now.

Gallathea and Gowan, I'd like to gene them today but am waiting on a branches trade to appear at the swap stand. If one fails to materialize by getting-close-to-server-rollover, I'll go with the third pair as second instead.

Uensa and Usnea, an XXX/XXY of moon pairing. Have all the genes for them pre-purchased, except they'll be waiting on me having enough gems for a third pair of sandsurge genes. Unless I end up doing them second, in which case the tree dragons will be waiting.

Andromeda and Wonambi, an existing breeding pair of modern dragons of mine that I think would look awesome as sandsurge dragons. They're both XXY of eldritch, with the Y being peridot and honeydew. Though I am tempted to look for a replacement for Wonambi that'll give them a wider range of greens, and retire Wonambi as he currently looks to my keep forevers. It'll be a while until they get gened up, since breed change plus wasp plus gem tert will run 2250 gems each. So yeah, long term plan there. Also might go with spectre or soap for Wonambi so that there's a bit more variation in their offspring.

[youneedtoletmechange]

How To Lay out A Gold IRA

Precious metals, basically gold and silver, provide great portfolio diversification as well as a fence against market instability and inflation. Turning over a current 401k into a gold IRA has turned into a famous approach to both invest in physical read more here precious metals as well as plan for a safer retirement. So this has yet to be addressed: how can one lay out an IRA gold investment?

Adding physical precious metals to an IRA, first turned into an option in contrast to conventional 401k's following the formation of the Tax Payer Relief Demonstration of 1997. Reasonable metals in a gold IRA include gold, silver, platinum, and palladium, which must all be bullion coins or bars and of specific specified fineness. Uncommon coins and other collectable gold and silver coins are not passable in a gold IRA. Your precious metals agent will actually want to work with you and prompt you on which metals are ideal for your portfolio.

Prior to settling on a choice on which metals to buy for your Personally managed IRA, it is insightful to initially start the most common way of laying out an IRA. The best spot to begin is to have your precious metals representative contact your ongoing caretaker to find out if you can add physical metals to your ongoing IRA. Generally speaking, specific IRA plans and certain rules with your ongoing account won't allow for precious metals investments. You should then begin the course of a 401k rollover into a new, gold IRA account.

Your representative will then, at that point, help you select a caretaker who has some expertise in managing gold Ira's. When chosen, some desk work should be finished up, which includes the sum you will be moving into the new gold IRA account, any recipients to be included on the account, alongside some additional standard data.

An IRA gold investment arrangement for the most part takes somewhere in the range of 3-5 business days following the commencement of the cycle. When this is finished, the time has come to choose and put the metals into your IRA account! Remember, there are just sure items that are passable in an IRA, which your dealer ought to be all ready to provide to you.

[amarisbella21]

The Role of HSAs and FSAs in Group Health Insurance

In the landscape of employer-provided benefits, Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) play a critical role in managing healthcare expenses for employees. Both HSAs and FSAs are designed to complement group health insurance plans, helping employees save money on medical expenses while providing tax advantages. Understanding their differences and benefits can help both employers and employees make the most of these valuable tools.

Health Savings Accounts (HSAs)

HSAs are tax-advantaged accounts that can be paired with high-deductible health plans (HDHPs). These accounts allow employees to save money for medical expenses on a pre-tax basis, reducing their taxable income. The funds in an HSA can be used for a wide range of healthcare-related expenses, such as doctor visits, prescription medications, and dental, and vision care. One of the unique features of an HSA is that the money in the account rolls over year after year, unlike FSAs where funds typically expire at the end of the year or within a short grace period.

Employees can contribute to an HSA through payroll deductions, which are made before taxes, reducing their overall taxable income. Employers may also contribute to employees’ HSAs as part of their benefits package, though this is not required. The annual contribution limits for an HSA are set by the IRS and are typically higher than those for FSAs, making HSAs an attractive option for those looking to save for future healthcare costs.

Another key benefit of HSAs is their ability to grow over time. The funds in an HSA can be invested in a variety of options, such as mutual funds, stocks, and bonds, allowing the balance to grow tax-free. Upon retirement, funds in an HSA can be used for non-medical expenses, though they will be subject to regular income tax if used for non-medical purposes. However, for medical expenses, withdrawals remain tax-free.

Flexible Spending Accounts (FSAs)

FSAs are another tax-advantaged benefit that works in conjunction with group health insurance plans. Unlike HSAs, FSAs are not tied to high-deductible plans and can be used with any type of health insurance plan. They allow employees to set aside a portion of their salary on a pre-tax basis to cover eligible medical expenses. However, unlike HSAs, the funds in an FSA generally must be used within the plan year or a short grace period, depending on the employer’s plan. Any unspent money is typically forfeited, which is why careful planning is important when contributing to an FSA.

FSAs can be used for a wide range of expenses, including co-pays, deductibles, and prescription medications. Employees can also use their FSA funds for certain over-the-counter products and medical services, depending on the specific FSA plan. Employers may offer FSAs as part of their benefits package, allowing for contributions via payroll deductions.

While FSAs do not have the investment potential of HSAs, they are a useful tool for covering out-of-pocket medical costs. They also offer the advantage of being available to employees even if they don’t have a high-deductible health plan. FSAs are more flexible in terms of the types of insurance they can be paired with compared to HSAs.

Key Differences Between HSAs and FSAs

While both HSAs and FSAs offer significant tax advantages, there are a few key differences:

Eligibility: HSAs require enrollment in a high-deductible health plan, while FSAs can be used with any health plan.

Contribution Limits: HSAs typically have higher contribution limits compared to FSAs, making them more beneficial for those who can afford to contribute more toward their healthcare costs.

Rollover Policy: Funds in an HSA roll over year after year, whereas FSAs generally require employees to use the funds within a specific period or risk losing them.

Portability: HSAs are portable, meaning they remain with the employee even if they change jobs. FSAs are generally tied to the employer and may not be transferable when changing jobs.

Tax Benefits: Both accounts provide tax savings, but the growth potential in an HSA (due to the investment options) provides an added long-term benefit.

Conclusion

Both Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) offer valuable financial tools to help employees manage healthcare costs while providing significant tax advantages. HSAs are better suited for those with high-deductible health plans and long-term savings goals, while FSAs offer more flexibility for immediate medical expenses but require more careful planning to avoid losing funds at the end of the year. Employers offering these accounts as part of their group health insurance plan can help their employees take control of their healthcare spending, ultimately fostering a healthier and more financially secure workforce.

[bluespringsincometaxpreparation]

Here’s a surprising stat! Almost 1/3 of investors who had rolled over their 401(k) into an IRA still had their assets in cash or cash equivalents a year later! That was the finding of a 2024 Vanguard study reported in the July 22 edition of The Wall Street Journal. 🤯 And get this… rollovers still in cash after the first year will likely stay that way for at least 7 years! Younger investors (ages 20–29) are least likely to move out of cash, which is concerning since they have the most to gain from the power of time. If you—or anyone you know—has switched jobs, review your rollover and understand how it's invested. Make sure your retirement savings are working hard for you. Remember, once you turn 73, you must take the required minimum distributions from your 401(k), IRA, or other defined contribution plans in most cases. Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½. Also, remember that investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

[bitchesgetriches]

{ MASTERPOST } Everything You Need to Know about Retirement and How to Retire

How to start saving for retirement

Dafuq Is a Retirement Plan and Why Do You Need One?

Procrastinating on Opening a Retirement Account? Here’s 3 Ways That’ll Fuck You Over.

Season 4, Episode 5: “401(k)s Aren’t Offered in My Industry. How Do I Save for Retirement if My Employer Won’t Help?”

How To Save for Retirement When You Make Less Than $30,000 a Year

Workplace Benefits and Other Cool Side Effects of Employment 

Your School or Workplace Benefits Might Include Cool Free Stuff

Do NOT Make This Disastrous Beginner Mistake With Your Retirement Funds

The Financial Order of Operations: 10 Great Money Choices for Every Stage of Life

Advanced retirement moves

How to Painlessly Run the Gauntlet of a 401k Rollover

The Resignation Checklist: 25 Sneaky Ways To Bleed Your Employer Dry Before Quitting

Ask the Bitches: “Can I Quit With Unvested Funds? Or Am I Walking Away From Too Much Money?”

You Need to Talk to Your Parents About Their Retirement Plan

Season 4, Episode 8: “I’m Queer, and Want To Find an Affordable Place To Retire. How Do I Balance Safety With Cost of Living?” 

How Dafuq Do Couples Share Their Money? 

Ask the Bitches: “Do Women Need Different Financial Advice Than Men?”

From HYSAs to CDs, Here’s How to Level Up Your Financial Savings

Season 3, Episode 7: “I’m Finished With the Basic Shit. What Are the Advanced Financial Steps That Only Rich People Know?” 

Speaking of advanced money moves, make sure you’re not funneling money to The Man through unnecessary account fees. Roll over your old retirement accounts FO’ FREE with our partner Capitalize:

Roll over your retirement fund with Capitalize

Investing for the long term

When Money in the Bank Is a Bad Thing: Understanding Inflation and Depreciation

Investing Deathmatch: Investing in the Stock Market vs. Just… Not 

Investing Deathmatch: Traditional IRA vs. Roth IRA

Investing Deathmatch: Stocks vs. Bonds 

Wait… Did I Just Lose All My Money Investing in the Stock Market? 

Financial Independence, Retire Early (FIRE)

The FIRE Movement, Explained 

Your Girl Is Officially Retiring at 35 Years Old

The Real Story of How I Paid off My Mortgage Early in 4 Years 

My First 6 Months of Early Retirement Sucked Shit: What They Don’t Tell You about FIRE

Bitchtastic Book Review: Tanja Hester on Early Retirement, Privilege, and Her Book, Work Optional

Earning Her First $100K: An Interview with Tori Dunlap 

We’ll periodically update this list with new links as we continue writing about retirement. And by “periodically,” we mean “when we remember to do it.�� Maybe remind us, ok? It takes a village.

Contribute to our staff’s retirement!

Holy Justin Baldoni that’s a lot of lengthy, well-researched, thoughtful articles on the subject of retirement. It sure took a lot of time and effort to finely craft all them words over the last five years!

In case I’m not laying it on thick enough: running Bitches Get Riches is a labor of love, but it’s still labor. If our work helped you with your retirement goals, consider contributing to our Patreon to say thanks! You’ll get access to Patreon exclusives, giveaways, and monthly content polls! Join our Patreon or comment below to let us know if you would be interested in a BGR Discord server where you can chat with other Patrons and perhaps even the Bitches themselves! Our other Patrons are neat and we think you should hang out together.

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