I’ve worked for a few companies that offered retirement plans. I also chose to save in a Roth IRA to prepare for retirement.   Understanding what a Roth IRA is and how it works lets you determine whether this investment product is right for your retirement goals. The following information can help.   What Is a Roth IRA? A Roth Individual Retirement Account (IRA) lets you invest after-tax dollars for retirement. The investment options include stocks, bonds, mutual funds, and e

Most employers offer a 401(k) plan as part of their employee benefits package. This defined contribution plan helps employees save for retirement.   Many employers offer matching 401(k) contributions up to a certain amount or percentage to encourage employees to save for retirement. The money employees have to live on in later years depends on the amount contributed and the performance of the underlying investments.   The following are the five main types of 401(k) plans.   1

If you are changing jobs or nearing retirement, understanding your options for your 401(k) account is essential. Controlling where your money is provides peace of mind.   Whether you withdraw your money or roll it into another retirement account impacts your financial goals and tax obligations. The following information can help guide your decision.   Option 1: Cash Out Your 401(k) Account Cashing out your 401(k) account typically is not recommended: You can ask your former e