Roth IRA Archives • Bitches Get Riches

{ MASTERPOST } Everything You Need to Know about Retirement and How to Retire

May 2, 2023April 12, 2024 Piggy Leave a comment

You and your motley team of thieves have infiltrated the highly secured and top-secret Retirement Archives. You’ve made it past the trained guard dogs, the snipers, the laser grid, the biometric scanners. And now, you’re in position to steal the most valuable knowledge of all: how to save and invest to retire some day in dignity and comfort.

Retirement know-how: you don't need to heist it anymore!

Retiring: it’s not just for The Olds anymore!

Over the years we’ve written about how to set yourself up to retire while you’re young, how to stick with a retirement plan during your working years, and even how to achieve FIRE (that’s “financial independence, retire early,” a forced acronym if ever there was one). Here is the sum of our retirement advice, gathered together for intellectual cramming purposes.

Season 4, Episode 5: “401(k)s Aren’t Offered in My Industry. How Do I Save for Retirement if My Employer Won’t Help?”

December 14, 2022December 13, 2022 Lauren Torres ("Kitty") 5 Comments

Today’s question asker works in the service industry, which means their job doesn’t offer retirement accounts like a 401(k), 403(b), or a pension. This is the case for lots of people! Although these tax-advantaged retirement accounts are a cornerstone of personal finance advice, they’re only offered by 14% of U.S. companies. If you work for yourself, part time, in a tips-based job, or for a very small employer, a 401(k) may not be an option for you.

Does this mean you should just give up on the idea of saving toward your retirement?

When your job doesn't offer retirement accounts, do you just GIVE UP on saving for your retirement? HAHAHA NO

Good news, bitches. You don’t need a traditional retirement account to save towards your retirement. The classic 401(k), 403(b), and pensions are not your only options! Good options for retirement savings exist for everyone, regardless of their industry or employment status. We’re going to tell you about them today.

How to Painlessly Run the Gauntlet of a 401k Rollover

March 29, 2022August 2, 2022 Piggy 27 Comments

If we’ve taught you nothing else here at Bitches Get Riches, it’s that you should:

sign up for your employer’s retirement plan and
job hop your way to a nice fat salary.

Yet these two bits of career advice might seem to conflict with one another. After all, if you’re job-hopping your way up the salary food-chain, you might be leaving a trail of old retirement plans behind you to languish. What do you do with your old 401k when you move on to a new employer, or even embrace self-employment?

Enter the 401k rollover: the most hateful, obnoxious, and needlessly complicated bureaucratic process known to man.

Today we’re not only going to demystify the process of how to roll over an employer-sponsored retirement plan like a 401k—we’re going to make it beautifully, sinfully painless. It’s going to be so much fun you guys!!!!!

Investing Deathmatch: Traditional IRA vs. Roth IRA

September 18, 2017March 25, 2022 Lauren Torres ("Kitty") 12 Comments

Two methods of investing in the stock market enter the ring.

Only one will leave victorious.

Welcome back to another installment of… INVESTING DEATHMATCH!!!!!!!!!

If you’re one of our Patreon supporters, there are four things I know for sure about you. One: you’re beautiful on the inside and out. Two: you’re powerful, also on the inside and out (like, you are spiritually intimidating and also extremely muscular). Three: You have excellent taste in blogs run by women who are emotionally in their mid-seventies but physically in their early thirties.

The fourth and most important thing I know about our Patreon supporters: Once a month, they get to choose a topic for an upcoming blog post. And this month they selected a battle royale between traditional IRAs and Roth IRAs.

So if you enjoy this week’s post, you have our gorgeous, strong, good-taste-having, democratically empowered Patreon supporters to thank for it. Please consider becoming one, or continue to aspire to grow up to be one.

Now let’s get down to the EXTREMELY ANALYTICAL CARNAGE.

Dafuq Is a Retirement Plan and Why Do You Need One?

February 13, 2017November 22, 2021 Piggy 1 Comment

For young’uns like us, old age and retirement couldn’t seem farther away. And yet the thing about retirement is it goes way smoother if you prep for it in advance. Which is why all of us—yes, even you fresh-faced recent graduates—need a retirement plan.

The term “retirement plan” itself is a bit misleading. It suggests there’s a singular, one-size-fits-all tool for preparing to live out your sunset years in the lap of luxury. In reality, not only is there no one single retirement savings tool that works for everyone. But most people use multiple “retirement plans.”

Join me, dear readers, as I guide you through an entirely-too-detailed tour of the most common forms of retirement plans. Keep your hands and arms inside the vehicle at all times and please don’t feed the wildlife.