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Retirement Planning

Lump Sum Distribution

In the world of finance, there exists a term that may sound unfamiliar to some: a lump-sum distribution. It refers to the entire amount of money in a 401(k) account or other tax-qualified plan that is paid out to the recipient in one taxable year. This can be a significant event for an individual and requires careful consideration and planning. Let's delve deeper into the concept of a lump-sum distribution and its implications.

Traditional IRA

Traditional Individual Retirement Accounts (IRAs) were created with the intention of incentivizing individuals to save for their golden years. This is achieved through three...

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Qualified Retirement Plan Definition

A qualified retirement plan is a valuable tool for both employers and employees, offering tax advantages that are granted by meeting specific criteria outlined in the Intern...

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Employer Matching Program

One common type of employer matching program is known as "50% of the first 6%." This means that for every dollar an employee contributes to their 401(k) plan, the employer w...

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Earned Income

Income is a crucial concept in the world of finance. It refers to the financial return one receives for their physical or mental efforts and activities. This encompasses bot...

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