Hardship withdrawals typically come with steep penalties. On top of federal and state income taxes, you might be required to pay a 10% tax on early withdrawals if you are under 59 ½.

Assessing the new over-65 deduction and its implications for Social Security taxation, as well as new rules for charitable ...

The whole trick to retirement savings is to put money away steadily and consistently. But one lesson that Generation X and boomers missed out on when the U.S. retirement system switched over to favor ...

Automating RMDs may be convenient, but it's not for everyone. If your financial situation is complex and your portfolio is ...

Many employers allow you to invest pre-tax money in your IRA right from your paycheck, so it’s easy and convenient. However, you’ll pay taxes on that money when you withdraw it, and possibly penalties ...

The Rule of $1 More explains how to plan for critical retirement thresholds. "You don't want to step off a cliff just because ...

Orman also thinks people should save at least 15% of their income for retirement when they’re younger (and beyond). And if you want to retire early, you may even want to aim higher. If you have access ...

The financial services firm’s guidance takes a different path than the traditional 4%-a-year strategy. Researchers compare ...

What can you tell me about spousal IRAs? My spouse and I are in our 50s and are looking for ways to boost our retirement ...

As such, by taking your required minimum distribution when the market is up and your retirement account's value is elevated, you're taking a relatively smaller chunk out of this account, leaving ...

Filing for Social Security early is a complex decision that depends heavily on your individual and family circumstances, including health and financial needs.

If you move your retirement date from 45 to 50, you're still enjoying an early retirement. This small change might be all you need to make your present a little more enjoyable. 3.