Avoid mistakes with traditional IRAs when changing jobs or starting a business.

From Nasdaq: 2025-04-12 06:09:00

In a busy life, it’s easy to make mistakes with traditional IRAs when switching jobs or starting a business. Avoid losing money by rolling over your 401(k) funds directly into an IRA to prevent taxes. Tapping into your IRA early can result in a 10% penalty, but exceptions exist for specific situations like homebuying or medical expenses. Saving for retirement is key, but maximizing Social Security benefits could provide an extra $22,924 annually. Learn these “Social Security secrets” to boost your retirement income. Remember, the views expressed are those of the author and may not reflect Nasdaq, Inc.



Read more at Nasdaq: 2 Missteps to Avoid If You’re Counting on Your IRA for Retirement