Where Did Pensions Go?

Before 1978, most retirement plans were set up as pensions. Although the term “pension” can colloquially be referred to any kind of retirement account, usually what is meant by “pension” is a defined-benefit plan.[1] “Defined-benefit plan” is a technical term for a...

What is a Taxable Event?

Put plainly: a taxable event is a transaction that causes someone to owe money to the government in the form of taxes.[1] Seems simple enough, right? When it comes to retirement and savings, there are a few important taxable events that you might want to keep an eye...

59 ½: The Retirement Turning Point

When you turn 59 ½, there are things that begin to happen. Most importantly: you can begin withdrawing from your retirement accounts, such as 401(k)s and IRAs.[1][2] This age is also very important because it can mark a shift in your investment and retirement...