The mega backdoor Roth IRA is a strategy ‘highly compensated employees’ or HCEs at Fortune 500 can use to increase retirement savings and shelter investment growth from taxes in retirement.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
If you are terminally ill, your life insurance policy is a valuable resource. Not only can you use life insurance to provide adequate income to your survivors for their short- and long-term needs, but you also may be able to receive a portion of the death proceeds from your life insurance before you die in order to pay necessary expenses or to fulfill a dream.
Guaranteed Insurability Rider
When you are terminally ill, you pose an obvious risk to an insurance company, and you will probably be unable to buy additional life insurance coverage. However, if you purchased a guaranteed insurability rider (additional purchase option) when you bought your policy, you may be able to buy additional life insurance without providing proof of medical insurability.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning
How Fortune 500 Employees Can Avoid Penalties?
72(t) payments, also known as “substantially equal periodic payments,” are advantageous because they are exempt from the 10% early distribution penalty that usually applies to withdrawals before age 59 ½. You can take them from an IRA at any time, but only from a workplace plan after leaving Fortune 500.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
What Is It?
In General
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
When considering retirement or a job change from Fortune 500, it is imperative to learn about your eligibility for a lump-sum payment offered by your retirement plan.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
There are just a couple of things almost all Fortune 500 retirees need when they hit retirement: predictable income and protection against a cluster of risks, which include longevity risk, performance risk, and sequence-of-returns risk.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
Interest rates are trending upward, and if this trend continues ExxonMobil lump-sum payments will drop again in the fourth quarter of this year. The IRS has recently released the Segment rates for the month of May, recorded at: 3.23% / 4.59% / 4.69%. May's segment rates saw an increase of about 0.3% (in the second segment), which is a substantial jump for a single month. This ongoing trend upward looks to be an early indicator of bad news for ExxonMobil employees opting for a lump-sum in the future.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, ExxonMobil, Inflation
How much can you spend in your retirement from Meta without the risk of running out of money?
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
