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Tag Archives: 401k

Help Me Retire: We have $1.6 million but most is locked in our 401(k) plans — how can we retire early without paying so much in taxes?

Dear MarketWatch,  I am trying to come up with a path to retire within the next two to three years and need some help. I will be 54 this summer and my wife is 48. Between us we make about $ 210,000 a year. We currently have about $ 1.6 …

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The Moneyist: I’m 28, have zero debt, a 401(k), Roth IRA and $45K in the bank. My parents want me to save for a home. I want a Tesla Model 3. Who’s right?

Dear Quentin, I’ve been flip-flopping back and forth between buying a new car or putting a down payment on my first home. With my parents being very money-minded and keeping a careful eye on my finances (still), I’m caught in a predicament. The original plan was to save up 20% …

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Help Me Retire: I’m pregnant, just lost my job to COVID and have $15,000 in a 401(k) — can my husband and I ever retire?

Dear MarketWatch,  I just turned 38 and my husband is 44. We don’t have a company retirement account, or individual one. He’s self employed and my last company didn’t have benefits. My husband cashed out savings (from previous job) for an emergency years ago. I have $ 15,000 in a …

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Outside the Box: More cuts to 401(k) matches are coming

To conserve cash, some employers are suspending contributions to their workers’ 401(k) accounts. And if this downturn plays out like previous recessions, more will follow. The handful of employers announcing suspensions in recent weeks include travel companies and retailers hit first and hardest by shrinking consumer demand, including Amtrak, Marriott …

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