Schwab MoneyWise ®

Ask Carrie: Retirement

Where's the Best Place for Extra Savings—a Roth 401(k) or Roth IRA?

by Carrie Schwab-Pomerantz
September 11, 2019

You can contribute to both a Roth 401(k) and IRA, but putting the max in your 401(k) first can keep things simple.
How Should Millennials Save for Retirement?

by Carrie Schwab-Pomerantz
September 09, 2019

Millennials value freedom and flexibility. Fortunately, today's retirement saving vehicles can offer them both.
How Can Couples Max Out Social Security Benefits?

by Carrie Schwab-Pomerantz
August 14, 2019

Have you and your spouse talked about Social Security strategies? Here's why you should.
Can You Contribute to an IRA If You Don't Have a Job?

by Carrie Schwab-Pomerantz
July 26, 2019

You have to have earned income to make an IRA contribution, but there are limitations and exceptions.
Is Maxing Out Your 401(k) Enough?

by Carrie Schwab-Pomerantz
July 25, 2019

The IRS-mandated maximum 401(k) contributions could leave you short. To find out if you’re on target, do the math!
Should You Tap Your 401(k) to Fund Your Down Payment?

by Carrie Schwab-Pomerantz
July 24, 2019

Is borrowing from your 401(k) the best approach when buying your first home?
Top 10 Financial To-Dos for Today's Grads

by Carrie Schwab-Pomerantz
June 05, 2019

Graduation brings new freedoms but also new responsibilities—especially when it comes to money. Are you ready?
Can You Rollover a Roth 401(k) to a Roth IRA?

by Carrie Schwab-Pomerantz
April 24, 2019

Rolling over a Roth 401(k) to a Roth IRA can be a great retirement strategy—if you're eligible.
Women and Social Security: Are You Maximizing Your Benefits?

by Carrie Schwab-Pomerantz
April 10, 2019

Women face unique financial challenges regarding retirement. Know your Social Security options before you file.
Are You Fooling Yourself When It Comes to Money?

by Carrie Schwab-Pomerantz
March 27, 2019

This April Fools' Day make sure you're not making some common—but foolish—money mistakes.
Does Working Past Age 70 Affect Your Social Security Benefits?

by Carrie Schwab-Pomerantz
December 19, 2018

While working past age 70 could mean higher Social Security benefits, it could also mean higher taxes and more.
Which Side of the Retirement Savings Statistics Are You On?

by Carrie Schwab-Pomerantz
October 10, 2018

Are you one of the few and fortunate Americans prepared for retirement? Now's the time to find out—and take action.
At What Age Should You Collect a Social Security Spousal Benefit?

by Carrie Schwab-Pomerantz
September 12, 2018

A nonworking spouse is eligible for a Social Security spousal benefit, but age and timing can affect how much.
How Can I Avoid Scams that Target the Elderly?

by Carrie Schwab-Pomerantz
September 05, 2018

Financial exploitation of seniors is on the rise, but you can make smart moves now to help safeguard your money.
Own Your Own Business? Are You Saving Enough for Retirement?

by Carrie Schwab-Pomerantz
August 15, 2018

As a sole proprietor, saving for retirement is hard. Fortunately, there are small business plans to make it easier.
No Retirement Savings at 50? Here's How to Get on the Fast Track.

by Carrie Schwab-Pomerantz
August 08, 2018

If you've let retirement savings lag, there are still tax-smart ways to catch up—even at age 50 and beyond.
Should You Be Debt-Free Before You Retire?

by Carrie Schwab-Pomerantz
July 11, 2018

Being debt-free before you retire can be a smart goal. But be sure to look at your complete financial picture.
Saving for Retirement: How Much Is Enough?

by Carrie Schwab-Pomerantz
June 27, 2018

No matter where you live, you may have to save more for retirement than you had anticipated. Here are some ideas for how to make it happen.
Is Keeping Your Car Worth the Cost?

by Carrie Schwab-Pomerantz
April 30, 2018

Ditching one of your cars can save you money but there are trade-offs to consider before tossing away your keys.
Can You Dip Into Your IRA to Buy a First Home? Should You?

by Carrie Schwab-Pomerantz
March 12, 2018

The IRS says you can use IRA money penalty-free for a first home purchase. But that doesn't mean it's a good idea.
Women and Money: Why It's Important to Take Control of Your Finances

by Carrie Schwab-Pomerantz
March 05, 2018

Financial independence is a great equality booster. Take steps now to take charge of your finances—and your life.
65 and Still Working: What to do with Medicare?

by Carrie Schwab-Pomerantz
January 31, 2018

Still working at age 65? That doesn't mean you should ignore Medicare. Get the facts to avoid possible penalties.
Will Collecting a Public Pension Reduce Your Social Security?

by Carrie Schwab-Pomerantz
January 24, 2018

Planning to collect both Social Security and a public pension? Unfortunately, Uncle Sam has other plans for you.
Have You Set Your 2018 Financial Goals?

by Carrie Schwab-Pomerantz
January 10, 2018

Setting financial goals for a new year is a great idea. Setting up a way to achieve them is even better!
Can I Protect My Retirement Income and 401(k) From Taxes?

by Carrie Schwab-Pomerantz
November 08, 2017

Income taxes are a fact of life even in retirement. Understand what's taxable, and at what rate, so there are no surprises.
Roth vs. Traditional 401(k)—Which Is Better?

by Carrie Schwab-Pomerantz
November 01, 2017

If your employer lets you decide between a traditional and a Roth 401(k), consider choosing both!
It's Open Enrollment: Are You Making the Most of Your Employee Benefits?

by Carrie Schwab-Pomerantz
October 25, 2017

Don't miss out on valuable employee benefits! Use Open Enrollment to fine-tune your choices.
This Halloween, Don't Let These 10 Common Money Mistakes Creep Up On You!

by Carrie Schwab-Pomerantz
October 18, 2017

These 10 money mistakes are all too common. This Halloween, watch out!
Can You Use IRA Assets to Purchase a Retirement Home? Should You?

by Carrie Schwab-Pomerantz
October 04, 2017

You can use IRA assets to purchase a retirement home, but make sure it makes financial sense.
Can You Get Social Security Benefits From Your Ex?

by Carrie Schwab-Pomerantz
September 27, 2017

Ex-spouse Social Security benefits can boost your income, depending on your circumstances. Get the facts.
What Is Wealth Part 2: How Important Is a Financial Plan?

by Carrie Schwab-Pomerantz
August 16, 2017

Putting off financial planning because it's too complicated? Here are three progressive steps to help you get started.
What Happens If You Take an Early Withdrawal From a 401(k) or IRA?

by Carrie Schwab-Pomerantz
August 02, 2017

Beware taking an early withdrawal from your 401(k) or IRA. It can cost you in more ways than one.
Independent Contractors: Is Your Money Working as Hard as You Are?

by Carrie Schwab-Pomerantz
May 24, 2017

As an independent contractor, you're not only your own boss—you're your own CFO. And there's a lot to think about.
Ex-Spouse Social Security Benefits: What's the Best Strategy?

by Carrie Schwab-Pomerantz
March 22, 2017

Even though you're divorced, you might be able to tap into your ex-spouse's work record for Social Security benefits—as long as you meet all the qualifications.
How Are Social Security Benefits Taxed?

by Carrie Schwab-Pomerantz
February 22, 2017

Social Security benefits plus added income may make you comfortable—but the IRS may also want its share.
Are You Ready for a Financially Healthy 2017?

by Carrie Schwab-Pomerantz
January 11, 2017

Need to detox your finances? This 30-day program can lead to lifelong financial health. Try it.
Yes, There are Retirement Benefits for a Nonworking Spouse

by Carrie Schwab-Pomerantz
November 01, 2016

Even if your spouse hasn’t worked outside of the home, he or she is entitled to certain retirement benefits, including Social Security.
Women and Money: Are You in Control of Your Finances?

by Carrie Schwab-Pomerantz
September 28, 2016

Historically, women have been less engaged in managing their finances. It's time to rewrite that history.
Laid Off and Worried About Money: What to Do Next?

by Carrie Schwab-Pomerantz
September 07, 2016

Handling your finances after a layoff takes careful planning, both to survive the present and help protect your future.
Retirement Savings: Making Up for Lost Time

by Carrie Schwab-Pomerantz
August 03, 2016

You've put off saving. Do you have to put off retirement? Not necessarily. But you do need to start saving now!
Do You Need Long-Term Care Insurance?

by Carrie Schwab-Pomerantz
July 20, 2016

LTCI can be smart to cover the costs of a long illness—but exercise a healthy dose of due diligence before you buy.
Postponing Retirement? Don't Postpone Planning for It!

by Carrie Schwab-Pomerantz
July 13, 2016

Being 65 doesn't mean you have to retire—but you do need to prepare for a smooth transition when the time comes.
Changing Jobs: What Should You Do With Your 401(k)?

by Carrie Schwab-Pomerantz
June 29, 2016

What you do with your 401(k) when you change jobs has a lot to do with both your current and future plans.
Does It Make Sense to Pay Off Your Mortgage?

by Carrie Schwab-Pomerantz
June 01, 2016

Whether or not to pay off your mortgage before you retire is a balance of practical considerations and peace of mind.
Roth IRA Withdrawals: The Exceptions Can Be as Important as the Rules

by Carrie Schwab-Pomerantz
April 06, 2016

With taxes, nothing is simple—including Roth distributions. Get the facts first to avoid taxes and penalties.
Maxing Out Your Tax-Deductible IRA

by Carrie Schwab-Pomerantz
March 23, 2016

Don't let confusion about IRA deductibility rules keep you from maximizing your retirement savings.
The Lowdown on 401(k) Loans

by Carrie Schwab-Pomerantz
March 16, 2016

There aren't strict rules on how many times you can take a 401(k) loan, but there can be far-reaching consequences.
Who Qualifies for Social Security Disability Benefits?

by Carrie Schwab-Pomerantz
December 09, 2015

Social Security disability benefits are paid to millions of Americans—but it can be tough to qualify.
Does an Ex-Spouse Qualify for Survivor Benefits?

by Carrie Schwab-Pomerantz
November 04, 2015

There are three basic qualifications for ex-spouse survivors' benefits. But there's even more to consider.
Saving for Your Child's Future? Define That Future.

by Carrie Schwab-Pomerantz
October 07, 2015

Saving for a child is a great idea but before opening an account, you need to think about your ultimate goal.
Will Debt Derail Your Retirement?

by Carrie Schwab-Pomerantz
September 23, 2015

Retired or not, your debts have to be paid. Best to come up with a realistic repayment plan ahead of time.
This Is What Marriage Equality Looks Like—For Your Finances

by Carrie Schwab-Pomerantz
August 05, 2015

Now that the Supreme Court has legalized same-sex marriage nationwide, it's essential for new couples to familiarize themselves with the financial benefits of marriage.
Suddenly Alone—Where Can You Turn for Help?

by Carrie Schwab-Pomerantz
June 10, 2015

It's hard to focus on finances after losing a spouse. But there are resources to turn to for help and support.
Women and Retirement: Can You Afford Not to Save?

by Carrie Schwab-Pomerantz
May 06, 2015

Women are living longer than men but saving less for retirement. Here's why they need to save more—and sooner.
Things You Want to Know About Investing but Are Afraid to Ask—Part 3

by Carrie Schwab-Pomerantz
April 22, 2015

Got investing basics down? Great. But before you invest, there are still a couple more questions to ask.
Social Security: Should You Wait Until Age 70 To Collect?

by Carrie Schwab-Pomerantz
March 25, 2015

While waiting to collect Social Security means a bigger monthly check, that's not the only thing to consider.
Required Minimum Distributions: What Are the Dates and Deadlines?

by Carrie Schwab-Pomerantz
March 18, 2015

Turning 70½ is a milestone for you—and the IRS. Get the facts about Required Minimum Distributions and avoid whopping penalties.
If You Have a 401(k), Do You Need an IRA, Too?

by Carrie Schwab-Pomerantz
February 25, 2015

While a 401(k) can be the backbone of your retirement plan, there's a good case for having an IRA as well.
Close to Retirement? Don't Miss These Dates and Deadlines!

by Carrie Schwab-Pomerantz
January 14, 2015

Close to retirement? Here are some age-related dates and deadlines to put on your calendar.
You've Inherited an IRA—Now What?

by Carrie Schwab-Pomerantz
October 01, 2014

Inherited IRA rules are different for spouses and non-spouses. Make sure you know the rules that apply to you
How Much Insurance Do You Need in Retirement?

by Carrie Schwab-Pomerantz
July 30, 2014

In retirement, some insurance is essential, and some is just a waste of money. Make sure you know the difference.
Who Qualifies for Social Security Survivor Benefits?

by Carrie Schwab-Pomerantz
May 28, 2014

It's hard to think of finances when a spouse has died, but don't ignore possible Social Security survivor benefits.
Social Security Basics—Five Things to Think About Before You Apply

by Carrie Schwab-Pomerantz
April 30, 2014

Are you maximizing your Social Security benefits? Here's what you should know before you apply.
Retirement Ahead: Do You Have Enough Exposure to Stocks?

by Carrie Schwab-Pomerantz
April 23, 2014

It's recommended that people gradually move away from stocks as they get older—but can you overdo it?
Can You Give Part of Your IRA to Your Family Tax Free?

by Carrie Schwab-Pomerantz
March 19, 2014

You may be willing to share your IRA with your family, but Uncle Sam wants his share, too.
What's the Best Retirement Plan for Your Small Business?

by Carrie Schwab-Pomerantz
January 29, 2014

Own a small business? Don't miss out on these opportunities to save more for retirement and decrease taxable income.

Investing involves risk, including possible loss of principal.

The information on this website is for educational purposes only. It is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner, or investment manager.

The Charles Schwab Foundation is a 501(c)(3) nonprofit, private foundation that is not part of Charles Schwab & Co., Inc. or its parent company, The Charles Schwab Corporation.

Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.