The Word on Wait Loss

Joan contributes $200 each month and
earns an interest rate of 6%.

Starts Investing	Account Balance at 65*	Years Lost	Lost Value
30	$276,058	0	$0
35	$195,851	5	$80,207
40	$135,916	10	$142,142
45	$91,129	15	$182,929
50	$57,662	20	$218,396
55	$32,653	25	$243,405
60	$13,965	30	$262,093
*Interest earned is compounded annually. This is provided as an estimation and is no guarantee for future performance

401(k) vs. IRA

Regardless of your stage in life or current plans for retirement, saving is something you should seriously consider. Thankfully, Uncle Sam has given you two main ways to do it: through an employer-based retirement plan-like a 401(k) or 403(b)-or an Individual Retirement Account (IRA). Check out this chart and decide which will work for you.

Top 10 Resources for Retirement

We've narrowed down the best places to persue when you're looking for retirement rankings, ideas and information.

1) The go-to for where to grow old, these recommendations will keep you and your wallet happy. GO

2) You'll get a kick out of every non-financial retirement tip this Yenta yaps about. Our favorites include fodder on wardrobe and wellness. GO

Something you won't find? Starting a financial plan! SimpliFi is seriously simple.

Correct!
You are one step closer to being a 401(k) expert! I bet you can't get the next one...
next question..

Incorrect...
When you turn 70.5 years old, mandatory distributions being in April.
next question..

Incorrect...
False, penalties occur if cash is pulled out before the age of 59.5 years old.
next question..

Incorrect...
True, 401(k) plan is the most widely held retirement account in the U.S.
next question..

Incorrect...
More than 65 million Americans contribute to their 401(k)s.
next question..

Incorrect...
False, the term came from the Revenue Code section 401.
next question..

Incorrect...
True, to participate in a 401(k) you MUST be an employee of a company that sponsors such a plan.
next question..

Incorrect...
There are 2 types of 401(k)s, Tradtional 401(k) and Roth 401(k). Traditional's provide pretax benefits while Roths provide tax free withdraws.
next question..

Incorrect...
True you can take your savings, including your matched contributions, that have vested with you when you change employers.
next question..

Correct!
You are one step closer to being a 401(k) expert! Let's see how you did!...
Calculate My Score!

Incorrect...
401(k)'s were created in 1981.
next question..

Incorrect...
True this is called Hardship Withdraw and you must qualify before removing the money. Other Hardship Withdrawals include: first home buyers, funeral expenses, death expenses, and medical bills.
Calculate My Score!