What Are RMDs? Introduction Required Minimum Distributions (RMDs) are mandatory withdrawals from retirement accounts such as 401(k)s, 403(b)s, and traditional IRAs. If you have an Empower Retirement Plan, it’s essential to understand how to add RMDs to ensure compliance with IRS regulations while optimizing your retirement savings. In this guide, we will explain: How to … Read more
Is the Yale Retirement Plan a 401(k)? A Complete Guide Introduction Planning for retirement is a crucial aspect of financial security, and employer-sponsored retirement plans play a significant role in this process. If you are affiliated with Yale University, you may be wondering whether the Yale Retirement Plan is a 401(k) and how it compares … Read more
Understanding Socioeconomic Status: The Core Domain Encompassing a Person’s Finances and Living Situation In the realm of personal development, social sciences, and financial planning, one of the most pivotal concepts is the domain that encompasses a person’s finances and living situation. This core domain—commonly referred to as socioeconomic status (SES)—plays a critical role in shaping … Read more