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A few definitions before you read today’s blog topic: What is a 401K A 401(k) is an employer-sponsored retirement savings option that allows you to contribute money from your paycheck into an investment account. Contributions to a traditional 401(k) are made pre-tax, which can lower your taxable income.  What is an IRA An individual retirement account (IRA) is a tax-advantaged savings account designed to help individuals save for retirement. Those with earned income (and their non-wage-earning spouses) are generally able to contribute to an IRA.  ————— I’m sharing two stories to showcase a common mistake that happens when you are leaving the workforce. It involvesRead More →