Absolute Retirement Solutions

Retirement Strategy

IRA 401K Retirement

Can I Make an Early Withdraw From My IRA or 401(k) Without Incurring a Penalty?

It’s not uncommon for people to experience circumstances under which they feel the need to withdraw from their retirement accounts before reaching their retirement age. Early withdrawal from an IRA or 401(k) account typically results in hefty penalties, which makes this a less than ideal option. Generally, if you take a distribution from a qualified …

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Rolling Over a 401(k) or IRA into an Annuity

Many retirees and people approaching retirement wonder what to do with the funds in their qualified retirement accounts. One option to consider is using part of those funds to purchase an annuity. Unlike most funds held within a qualified retirement plan, an annuity can turn a lump sum of money into a guaranteed income that …

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How Can Young Professionals Start Planning For Retirement?

One of the biggest mistakes you can make when it comes to retirement is waiting too long to come up with a plan. Many people don’t start thinking about retirement until it’s quickly approaching, and it can be difficult to reach savings goals with short-term investing strategies. For many young professionals in their 20’s, possibly …

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Strategies To Help Increase Your Social Security Benefits

Many people rely on Social Security as a big part of their retirement income. When you are no longer receiving paychecks from work, it is essential that you maximize your benefits. These are some tips and considerations to help you get the most out of your benefits! Work Longer Your Social Security payments are based …

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How to Combat Inflation in Retirement

Inflation refers to the general rising of prices of goods and services. As inflation continues, the purchasing power of the dollar decreases. Fortunately for many people in the workforce, salaries tend to increase consistent with inflation. However, for those who are no longer working and relying on their savings to provide fixed income, inflation can …

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5 Tips to Reduce the Tax-Impact of Retirement Account Withdrawals

Many retirees have multiple streams of income from different accounts. How and when you decide to start taking withdrawals from these accounts impacts what you pay in taxes. The rules can be a bit complicated and it’s not uncommon for retirees to incur penalty fees for making mistakes. These are some strategies for avoiding penalties …

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What Is The 4% Rule For Retirement Withdrawal Strategy?

If you are planning for retirement, you may have heard of the “4% rule”. This guideline, which was created in the 1990s by a respected financial advisor by the name of William Bengen, states that retirees can withdraw 4% of their total savings each year, adjusted for inflation, and not run out of money in …

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5 Common Retirement Mistakes That You Should Avoid

Retirement is supposed to be a time to enjoy your family and pursue the passions that you couldn’t in your working years. Unfortunately, many retirees struggle financially because they either failed to plan ahead or aren’t using efficient strategies to minimize taxes and maximize benefits. Retirement planning is incredibly complex and involves a variety of …

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