401K Archives

27 02, 2025

Understanding the Role of 401(k) Plans in Retirement Savings
Understanding the Role of 401(k) Plans in Retirement Savings

Understanding the Role of 401(k) Plans in Retirement Savings

Evan Lamont2025-01-29T14:13:39-08:00February 27, 2025|401K, Retirement, Retirement Goals, Retirement Planning|

A 401(k) plan is one of the most widely used tools for retirement savings, offering tax advantages and long-term growth opportunities. By understanding how these employer-sponsored plans work, you can optimize their benefits and create a strong foundation for your financial future. What Is a 401(k) Plan? A 401(k) plan is a retirement savings account provided by employers. It allows employees to contribute a portion of their income, often on a pre-tax basis, to grow their retirement savings over time. Contributions grow tax-deferred, meaning taxes are paid when funds are withdrawn during retirement. Some employers [...]

3 Options for Your 401(k) When Leaving Your Job

BML Wealth Marketing2020-09-20T20:47:11-07:00September 20, 2020|401K, Financial Planning, Income Planning, Retirement Planning|

If you’ve ever left a job, you may have had to decide what to do with your old 401(k). You might have rolled it over into a 401(k) at your new job or even forgotten about it when you were younger. But if you’ve recently lost your job, retired, or left your job for another reason, you may be wondering how to make the most of your 401(k). There are many options, and the right one depends on your age, retirement goals, and overall financial situation. To start, here are three options for your 401(k) [...]

Don’t forget about Your Old 401(k)s

BML Wealth Marketing2020-04-16T16:10:40-07:00October 15, 2019|401K, Retirement Income|

Do you have multiple 401(k)s? If you left your money in a former employer’s 401(k), you may want to reconsider as you near retirement. According to the Bureau of Labor Statics[1], Baby Boomers have held an average of 12 jobs by the time they turn 50. When you leave a job, the money you contribute to your 401(k) is still yours, and you may also be able to keep your employer’s contributions depending on your vesting schedule. There are a few options for your old 401(k)s: You can cash out of the plan, leave the [...]