Category Archives: pensions

3 Things to Consider When You Have An Old 401(k) You Don’t Know What To Do With

Nancy L. Anderson If you have a 401(k) with a former employer, it’s called an orphan. The name is fitting, since you aren’t really taking care of this account — it’s sitting there all by itself. In fact, according to the Bipartisan Policy Center, there are 25 million orphaned retirement accounts sitting with former employers today. If you find yourself in this group, you may be wondering how to deal with your ‘abandoned’ funds. You most likely… Read More »

Following The Herd Can Leave You Lost During Retirement

Forbes Finance Council Six times more people have died coming down Mount Everest than while climbing Mount Everest. The same can happen as you come down the mountain after retirement. How you distribute wealth, or “disinvest,” is even more important than how you invest. The savings decisions you are making today have far more implications than you might be seeing. Simply following “the herd” without exploring these consequences can spell trouble down the road. In… Read More »

Will Your Pension Be There When You Need It?

Michelle Singletary Clearly, people are concerned about their pensions. Many are well-funded. But others, including multi-employer and state pensions, are having financial trouble. And some federal workers wonder about the government’s pension promises to them. Karen Friedman is the executive vice president and policy director at the Pension Rights Center, and Joellen Leavelle is the group’s communications and outreach director. Last week, I invited them to answer readers’ questions about their pensions. Here are some… Read More »

7 Family Finance Tips to Consider for the New Year

Financial Planning Tips for a New Year | Advise from Financial Planners and Jordan Dechtman Wealth Management

As 2016 comes to a close, people across the country are starting to plan their New Year’s Resolutions. While exercise or losing weight are common goals, we’d like to recommend a resolution that can have a huge impact on your lifestyle: Creating a Financial Plan for 2017 As Mark Avallone writes in the article below, a few minutes to update your plan for the coming year can help you start the new year on the… Read More »

Financial Drawbacks of Remarrying Later in Life

Our last article looked at possible financial benefits of remarriage; this week’s looks at potential financial drawbacks. Some risks are obvious. A future divorce can be very detrimental. In nine states with community property rules, most wealth or debt accumulated during the marriage may be divided equally. The remaining states typically follow equitable distribution; a judge divides assets, which may include one spouse’s pension. Here are a few other potential drawbacks:   Pensions and Social Security.… Read More »