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The federal Employee Retirement Income Security Act of 1974 — or ERISA — prevents creditors from making claims against funds in retirement accounts like 401(k)s, protecting the money you paid ...
3. Workplace retirement plans have an RMD exception. If you have a retirement plan at work, such as a 401(k) or 403(b), there’s an important RMD exception.
RMD stands for required minimum distribution, and once you hit age 73, you’ll have to start taking this minimum amount of money from many retirement accounts, such as a traditional IRA or 401(k ...
For example, Roth accounts are a great vessel for passing on tax-free retirement assets to your loved ones, while traditional IRAs and 401(k)s are better used during your lifetime. 3. Market ...
While the amount you can contribute each year to an HSA is lower than that of 401(k)s and IRAs, it still gives a nice boost to your retirement planning. Catch-up contributions are also available ...
You can withdraw HSA money tax-free for any reason after turning 65 ... This rule provides flexibility to use your HSA funds for anything you need in retirement. However, there’s a big catch ...
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