When mortgage rates are low, should you refinance? Part 1: The basics
As I draft today’s post, mortgage rates aren’t the lowest ever, but they’re low enough to leave many homeowners wondering whether to refinance to the lower rate.
Required Minimum Distributions: An Overview of the Ins and Outs
It’s long been complicated for retirees to figure out when and how to take Required Minimum Distributions (RMDs) from their IRAs and similar retirement accounts. Recently, it’s gotten even more confusing. First there was the 2019 SECURE Act, extending the required age from 70 1/2 to 72 (effective in 2020 for those turning 70 1/2 after year-end 2019). Then came the CARES Act, which waived the 2020 RMD altogether for all IRAs and 401(k) accounts.
How To Borrow From Your 401(k) If You Have To
To assist Americans with pandemic-related spending emergencies, the CARES Act has temporarily made it easier for families to tap into their IRAs, 401(k)s, or similar retirement accounts. Even if you can now borrow or withdraw from your retirement reserves, that doesn’t mean you should. Still, some families are facing urgent needs right now. How do you take from your 401(k) today, and safeguard your future?