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Tag: retirement

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When is the best time to claim Social Security?

  • Posted on July 28, 2023July 29, 2023
  • by BrightDime

Most of us have a vague idea of how Social Security works, or at least we’ve seen that money comes out of our paychecks for it. The basic idea is…

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What can you do with a 401(k) from a previous job?

  • Posted on March 19, 2022
  • by BrightDime

If you leave a job where you had a 401(k) you’re faced with a decision: what do you do with the 401(k) account at your old job? The money in…

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What is a rollover IRA?

  • Posted on March 12, 2022November 9, 2022
  • by BrightDime

A rollover IRA is an Individual Retirement Account that is funded by closing a 401(k) (or similar account) at a previous job and moving those funds to the new individual…

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What does “vesting” mean?

  • Posted on March 4, 2022March 4, 2022
  • by BrightDime

Vesting refers to the process of a financial benefit becoming yours over time. The most common example is a 401(k) match. (There are other types of compensation that might vest,…

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Which type of IRA should I contribute to?
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Which type of IRA should I contribute to?

  • Posted on January 16, 2021July 26, 2022
  • by BrightDime

IRA’s, or Individual Retirement Accounts, are tax advantaged accounts for saving and long term investing for retirement. The two most common types are Roth and traditional. You can make contributions…

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What’s the difference between a Roth and traditional IRA?
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What’s the difference between a Roth and traditional IRA?

  • Posted on January 12, 2021July 26, 2022
  • by BrightDime

An IRA (or Individual Retirement Account) is a tax advantaged account for saving and investing for your retirement. IRAs are not connected to your employer like a 401(k) is and…

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What should I do to wrap up my finances for the year?
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What should I do to wrap up my finances for the year?

  • Posted on December 4, 2020July 26, 2022
  • by BrightDime

Even if this year did not turn out as you hoped, you can still end the year on a positive note with your money! Below are TEN quick-hit items that…

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Am I losing money by not using a 401(k)?
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Am I losing money by not using a 401(k)?

  • Posted on September 10, 2020January 14, 2023
  • by BrightDime

A 401(k) plan is a savings and investing option, sponsored by employers, that gives employees like you a tax-advantaged way to put aside money for retirement. Named for the subsection…

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Is taking money from my 401(k) a good idea?
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Is taking money from my 401(k) a good idea?

  • Posted on September 4, 2020July 26, 2022
  • by BrightDime

Financial stress is running pretty high right now. Perhaps your job has been impacted. Maybe you’re seeing unexpected health expenses. The kids are home instead of at school. There’s a…

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What you can do with a tax refund or an unexpected windfall?
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What you can do with a tax refund or an unexpected windfall?

  • Posted on July 22, 2020July 26, 2022
  • by BrightDime

If you’re one of the lucky Americans who will get a tax return this year you may be faced with a pleasant dilemma: what do I do with this extra…

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