Dear Garden State Trust: Should I withdraw or borrow from my 401(k) plan to help pay for my child’s college expenses? —Puzzled on Funding Dear Puzzled: As a general rule, impairing your retirement savings to meet current spending needs is not a good idea, even for higher education expenses. There are other sources of funds…
Month: February 2022
Smaller RMDs in 2022
It is normal to think that once you retire, you no longer need to save or invest for retirement. Although many may switch from an accumulation to a distribution mindset when retirement starts, it is important to keep your money working for you as much as possible. One consideration is managing distributions from tax-favored accounts,…