If you’ve made the mistake of thinking that a 401(k) loan and a hardship withdrawal are exactly the same, boy, are you in for a surprise. Lots of differences with major consequences exist.
If you’re not good at saving money, saving for your retirement can be stressful and overwhelming. But don’t let the pressure get you down. There are several tips and tools to help you prepare for your retirement years. Knowing your retirement options can put you on the right path, as can a retirement savings calculator, by which you can estimate the future value of your retirement savings. […]
As the plan administrator for my company’s 401K I have a window seat into all the activity for our 401K plan. What I’ve seen over the past year is a flurry of individuals taking out loans. Some individuals literally pay off a loan one week and begin another loan the following week, never giving their[…]
We’re talking about mortgages again. I promise you that I am not beating a dead horse but since this is the most expensive thing that most of us will every pay for, and since so many people are defaulting, I can’t help but covering this topic from many different angles.
I wrote a post called, 30 Year Mortgages Are For Suckers which ruffled a bit of feathers. Some of you agreed and some disagreed, but I want to back my argument up with the viewpoints of some financial gurus as well.
Free Money Finance has a fabulous help a reader section where he posts questions that his readers has asked him and allows his reading audience to weight in. When Pia left a detailed comment on a post and wanted some advice on what to do with her financial situation, I thought, why not open it up to everyone since lots of people have money problems? Pia agreed, and below is her story. Be nice and civil everyone. Remember, this is a real person with a real problem in real life.