VIDEO ON MSN MONEY
For the younger crowd, the best thing to know about is alluded to: Substantially Equal Periodic Payments under rule 72t. I've always been obsessed with retiring as early as possible and used to invest in essentially cash accounts for the pre age 59 years. Rule 72t allows you to take a series of penalty free distributions from an IRA pre age 59. If you pay off your house preretirement and limit withdrawals to within the 15% tax bracket limits, maxing out the tax deferred accounts is a much better option than paying taxes now... Plus you gain all the bankruptcy protection and other features. If your plan offers 401k loans, the money is often accessible along the way if needed. That's part of what allows me the confidence to really max out my contribution and limit cash on hand...
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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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