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Ted Martin

If you follow the news — or even if you don’t — you’re probably aware that the country is debating the future of Social Security. However, this discussion, while important, may be obscuring another key issue: namely, that many people are finding their employer-sponsored retirement plans are falling short of providing the expected level of benefits.

Clearly, this is a scary prospect for many workers. Consequently, you will want to act now to bolster your retirement savings. read more »


If you’re like many people, you may not enjoy participating in surveys, but you’re curious about the results — particularly if they contain information that touches on your life. For example, if you’re concerned about saving for retirement, you may be quite interested in some of the findings from the Employee Benefit Research Institute’s 2003 Retirement Confidence Survey:

  • Fewer than four in 10 workers say they have calculated how much money they will need to have saved by the time they retire.
  • Three in 10 workers say they have not saved for retirement. read more »

Are you retiring soon? Changing jobs? Leaving your company? If so, here’s one of the most important questions you’ll need to ask yourself: What should you do with your 401 or other tax-advantaged retirement plan?

You could, of course, cash out your 401 and take a lump sum distribution. After all, the money is yours, and it’s readily available. However, there are some big negatives to cashing out your 401. First, you’ll have to pay ordinary income taxes on the money, possibly including an immediate 20 percent withholding. Also if you’re under 55, you may have to pay a 10 percent penalty. read more »

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