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Retirement Planning

Home Equity

As a knowledgeable professor in the field of finance, it is important to understand the concept of home equity. This refers to the value of your home after subtracting all debts, such as your mortgage, home equity loan, and home equity line of credit. As you near retirement, your home equity can become a significant financial asset, especially if you are open to selling your home and downsizing to a more affordable property.

Employer Matching Program

One common type of employer matching program is known as "50% of the first 6%." This means that for every dollar an employee contributes to their 401(k) plan, the employer w...

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Matching Contributions

A crucial aspect of 401(k) accounts is the employer contribution, which is determined by the individual's own contributions. This means that for every dollar the individual ...

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Primary Beneficiary Definition

A person or entity, known as a primary beneficiary, holds the first right to inherit an asset. Retirement plans, annuities, and life insurance policies typically allow the a...

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Tax-Free

A tax-free account that allows for the growth of earnings through interest, dividends, and capital gains without being subject to income tax. This type of account, such as a...

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