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Inherited 401(k): Rules and Tax Information
https://www.sofi.com/learn/content/inherited-401k/
When you inherit a 401(k) retirement account, there are tax rules and other guidelines that beneficiaries must follow in order to make the most of their inheritance. Inheriting a 401(k) isn’t like getting a simple inheritance, e.g. cash, property, or jewelry. How you as the beneficiary must handle the account is determined by your relationship […]
How to Pay Less Taxes: 9 Simple Steps
https://www.sofi.com/learn/content/reducing-taxable-income/
Taxes are part of life, but many people would like to know if there are any ways to lower their tax bill. While paying no taxes isn’t likely, there are ways you can use the tax code to reduce your taxable income and tax liability. These range from knowing the right filing status to maxing […]
How Much Should I Have Saved in My 401k?
https://www.sofi.com/learn/content/how-much-should-i-have-in-my-401k/
Retirement is supposed to be the golden age of relaxation. Whether it be reading the garden, lazy days spent fishing, or early mornings on the golf course, when you retire, there are no bosses or daily meetings to preoccupy you. But what is the best way to get there? Saving for retirement can seem daunting, […]
9 Types of Investments & Their Pros and Cons
https://www.sofi.com/learn/content/different-types-of-investments/
There are numerous different types of investments, ranging from stocks and bonds, to real estate and commodities. In tandem, these different types of investments can help investors build a diversified portfolio, and in effect, may help them reach their financial goals. But having a solid understanding of the different types of investments is paramount, too, […]
HSA for Retirement: Rules, Benefits, and Getting Started
https://www.sofi.com/learn/content/using-hsa-for-retirement/
A health savings account, or HSA, not only provides a tax-free way to pay for medical expenses now, those tax savings can extend to retirement as well. An HSA provides triple tax benefits to the account holder. You set aside money pre-tax (similar to a 401(k) or IRA), it grows tax free, and withdrawals for […]