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Tag Archives: 401(k)

What Military Families Need to Know about the Changes to Military Retirement

by Shannon Razadin By now military families have heard about the impending changes to the military retirement system. Shannon Razsadin, executive director of the Military Family Advisory Network (MFAN), is here to break down what it means and explain who will be affected — and when. Why the change in military retirement? The DoD carefully considered the future of the force. The reality is, since the start of the all-volunteer …Read More

Ask An Expert: Should I Withdraw Money From My 401(k) to Pay Off Debt?

Dear reader, Paying off your debts with your 401(k) is not as practical and beneficial as it sounds, especially when you may have other avenues available to manage and eliminate your debt. If you are younger than 59 ½ when you withdraw money from your 401(k), you will be hit with a 10 % upfront early withdrawal fee and you will have to pay income tax on the amount you …Read More