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[ad_1] When you leave your job, you have a few options when it comes to your pension. You can take the pension payout over your lifetime, cash it out as a lump sum payout, or you can roll over your pension into an IRA. But what’s the best option for you? The short answer is: It depends. I know that’s not the answer you want to hear, but it truly does depend on your unique financial situation. For most people, rolling over their pension into an IRA is the best choice. In this article we’ll look at the reasons why rolling over your pension is often the best decision, as well as some situations where it might not be the best idea. #ap50216-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap50216-ww #ap50216-ww-indicator{text-align:right;color:#4a4a4a}#ap50216-ww #ap50216-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap50216-ww #ap50216-ww-indicator-wrapper:hover #ap50216-ww-text{display:block}#ap50216-ww #ap50216-ww-indicator-wrapper:hover #ap50216-ww-label{display:none}#ap50216-ww #ap50216-ww-text{margin:auto 3px auto auto}#ap50216-ww #ap50216-ww-label{margin-left:4px;margin-right:3px}#ap50216-ww #ap50216-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap50216-ww #ap50216-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap50216-ww #ap50216-ww-text-bottom{margin:5px}#ap50216-ww #ap50216-ww-text{display:none}#ap50216-ww #ap50216-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap50216-w-map{max-width:600px;padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap50216-w-map #ap50216-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap50216-w-map #ap50216-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap50216-w-map #ap50216-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap50216-w-map #ap50216-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap50216-w-map #ap50216-w-map-map svg{position:absolute;left:0;top:0}#ap50216-w-map #ap50216-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap50216-w-map #ap50216-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap50216-w-map #ap50216-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap50216-w-map #ap50216-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap50216-w-map #ap50216-w-map-map svg g .ap00646-w-map-state{display:none}#ap50216-w-map #ap50216-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap50216-w-map #ap50216-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap50216-w-map #ap50216-w-map-map svg g:hover{cursor:pointer}#ap50216-w-map #ap50216-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap50216-w-map #ap50216-w-map-map svg g:hover text{fill:#fff}#ap50216-w-map #ap50216-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap50216-w-map #ap50216-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap50216-w-map #ap50216-w-map-btn:hover{color:#fff;background-color:#508fc9} The best time to open a Roth account is today. There's no time like the present to begin preparing for your retirement. Click on your state now to find out more. HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas Open an Account Today What is a Pension? A pension is a retirement savings plan that is typically offered by an employer. pensions are tax-deferred, which means you don’t have to pay taxes on the money you contribute to your pension until you withdraw it in retirement. There are two types of pension plans: defined benefit and defined contribution. What is a Defined Benefit Plan? A defined benefit plan is a pension that pays you a set amount of money in retirement, based on your years of service and salary. These types of pension plans continue to dwindle as companies increasingly switch to defined contribution pension plans, such as 401k plans. According to US News and World Report, only 20 percent of private-sector workers have a defined benefit pension plan. Public sector employees are more likely to have a defined benefit pension plan. According to the National Institute on Retirement Security, over 80 percent of state and local government workers have a pension. The most common types of employment that still offer pensions are education (think teachers). Types of pensions payouts can include: Life only: You receive pension payments for as long as you live. 10-year certain: You are guaranteed to receive pension payments for at least 10 years, even if you die before then. Joint and survivor: pension payments continue to be paid to a surviving spouse after your death. Some pensions may offer additional payout options, but these are the most common. Typically, if the employee chooses the “joint and survivor” option the monthly payment is reduced because the payments have to last for two people. For example, I have one client who elected this option and was receiving $2,625 per month for himself and his wife. Had he elected the “life only” option his payment would have been $3,475 per month. What is a Defined Contribution Plan? A defined-contribution plan is a pension that allows you to contribute a set amount of money into the pension, typically through payroll deductions. The pension is then invested, and the money grows over time -the power of compounding interest! They are more commonly known as a 401k, 403b, or 457 plan. The amount of money you have in retirement depends on how much you and your employer contributed, as well as how much the investments earn. Also related: Choosing the Best Retirement Plan For You 401k plans can also offer a match, which is free money from your employer. For example, if your employer offers a 50 percent match on 401k contributions up to 6 percent of your salary, that means they will contribute 50 cents for every dollar you contribute, up to 6 percent of your salary. So if you make $50,000 per year and contribute 6 percent ($3,000), your employer would contribute an additional $1,500. What is a Pension Rollover? A pension rollover is when you take the money from your pension and roll it over into an IRA. In essence, you are foregoing the pension payments in retirement and instead opting to manage the money yourself in an IRA. According to IRS regulations, you have 60 days from the day you receive the pension payout to roll it over into an IRA. If you don’t do a pension rollover within that 60-day window, the money will be considered a withdrawal and you’ll have to pay taxes on it, as well as a 10 percent early withdrawal penalty if you’re under age 59 1/2. These rules closely resemble a 401k rollover. The 10% early withdrawal penalty is a big deal but easily avoidable by working with a qualified professional. #ap49478-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap49478-ww #ap49478-ww-indicator{text-align:right;color:#4a4a4a}#ap49478-ww #ap49478-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap49478-ww #ap49478-ww-indicator-wrapper:hover #ap49478-ww-text{display:block}#ap49478-ww #ap49478-ww-indicator-wrapper:hover #ap49478-ww-label{display:none}#ap49478-ww #ap49478-ww-text{margin:auto 3px auto auto}#ap49478-ww #ap49478-ww-label{margin-left:4px;margin-right:3px}#ap49478-ww #ap49478-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap49478-ww #ap49478-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap49478-ww #ap49478-ww-text-bottom{margin:5px}#ap49478-ww #ap49478-ww-text{display:none}#ap49478-ww #ap49478-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap49478-w-text{padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap49478-w-text #ap49478-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap49478-w-text #ap49478-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap49478-w-text #ap49478-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap49478-w-text #ap49478-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap49478-w-text #ap49478-w-text-btn:hover{color:#fff;background-color:#508fc9} Robo-Advisors keep an eye on the market's every move to protect your investments. For a diversified portfolio with the risk tolerances you need and the monetary goals you want, a robo-adviser can be a powerful ally. Get Started Why Should You Roll Your Pension into an IRA? There are several reasons why rolling over your pension into an IRA is a good idea. Here are five to consider: 1. More Investment Control First, rolling over your pension into an

[ad_1] Get ready for a week of amazing deals at Zulily! Zulily’s Wow Week of Deals: June 20-26, 2022 Zulily is running their hugely popular Wow Week of Deals next week, starting Monday, June 20th! New deals will be revealed each day through Saturday, June 26th! Bookmark this page and get ready to grab some BIG savings at Zulily! You’ll be able to score rock bottom prices on clothing, toys, home decor, gifts, shoes, outdoor fun, and more! These deals will be the lowest prices of the season and will include popular brands like Birkenstocks, Lululemon, Madewell, Melissa & Doug, Dyson, and Rocket Dog — just to name a few! You can also go here to find all the best Zulily deals we post each day, so that’s a great place to follow along for the best Wow Week of Deals next week. [ad_2] Source link

[ad_1] Russian gas flows to Europe fall short, threaten storage buildup [ad_2] Source link

[ad_1] It is no doubt that the Indian electric vehicle segment is hugely benefitting from the thrust of Central and State government subsidies. But beyond that, the initial cost of acquisition is also something that could be a deterrent. The domestic sales of electric three-wheelers for the first time surpassed its IC-counterpart, but is this a sign of the days to come? Or a temporary phenomenon?  The First & Last Mile Mobility Conclave 2022 hosted by The Financial Express, dwelled into a range of discussion point right from – ‘Making India Atmanirbhar In EV Manufacturing’; ‘Road ahead: Beyond FAME-II and state incentives’; ‘Challenges and opportunities in EV ecosystem’; ‘Road to climate conscious delivery’; ‘Can India achieve its EV Vision 2030?’ and ‘Emerging business models in the EV ecosystem.’ At the last session of the First & Last Mile Mobility Conclave 2022, an interesting panel discussion took place bringing together – Mr Amitabh Saran, Founder & CEO, Altigreen Propulsion; Mr Saurav Kumar, Founder & CEO, Euler Motors; Mr Uday Narang; Founder & Chairman, Omega Seiki Mobility and Mr Uttam Digga, Co-Founder, Porter. The session was Moderated by Mr Nilesh Wadhwa, Principal Correspondent, The Financial Express.  “What we have seen recently and is a general trendline. People have become more and more curious about EVs in general. We still feel that the penetration of EVs in our platform is not as high as we want it to be. Because there are different reasons for it, for instance how much kilometres the partner has to drive in a day, the tonnage will be carried is far higher. But as being the market leader in our industry, we have responsibility to push it.” Digga said. He mentioned at present there are around 1,500 e-three-wheelers on Porter’s platform plying primarily in Delhi and some in Mumbai and Bangalore. The idea is to scale this up significantly across the country. “Financing remains a key challenge. We have demand for over 40,000-50,000 e-three-wheelers. In fact, everyone has demand. The problem is financing. Without purchasing power will cost demand. We as a group have to make sure that more is done on financing,” remarked Narang. It is interesting to note in October 2021, Anglian Omega Group, the parent company of Omega Seiki Mobility had launched its EV financing arm Anglian Finvest.  “I believe that investing in IC-engine is a mistake. Financing should be here (EV space),” quipped Narang.  It was in October 2021, that Euler Motors’ launched its electric three-wheeler offering in the Indian market. Kumar said, “We started in 2018. We focussed on building a cargo e-three-wheeler, and in fact, there was virtually no financing available for the electric three-wheeler segment. We went ahead and deployed around 300 e3Ws of our own to partly understand what to build, what not to build, what will work and what will not in India. We launched the product after 4-years and by then thanks to bigger OEMs and better products in the market the overall take of the ecosystem especially for financing of electric three-wheeler has also been improved. It went from almost no one looking to finance an electric three-wheeler today we work with almost 25 financers. I think the situation has vastly improved. There is much more interest, and the ecosystem has come a long way. There is a greater confidence on the products that are coming out.”  “If you have a performing product compared to diesel and CNG vehicles. The transition will happen, it is mainly because the customer gets a better comfortable vehicle, the financer has comfort, that the guy will run the vehicle and their chances of them defaulting will be low,” shared Kumar. Altigreen which begin its journey with developing individual parts for the electric vehicle industry way back in 2014 has now launched its own electric three-wheeler product. In fact, the company in February this year raised Rs 300 crore funding led by Sixth Sense Ventures and Reliance Energy among others. Responding to a query on whether the company sees potential of retrofitment as a cheaper alternative in the e-three-wheeler market, Dr Saran replied, “When we started, we were proponents of retrofitment. But over a period of time, we realised that there is no subsidy from the government for retrofitment. When you look at the bulk of the vehicle, it is the drivetrain and other components including the battery get added to that. You do not get any subsidy on that, as a result the price of retrofit is very high.” He said for a potential retrofitment customer in the three-wheeler space, it is difficult to convince a person to invest 60-70 percent of the price of a new vehicle in their old vehicle. “You still get an old vehicle like it used to be, unless you are doing a lot of refurbishment. However, I believe for certain segments retrofit will be a good idea. Whether it is as full-electric or a series or parallel hybrid. There will be certain segments, especially with the CAFÉ norms come next year that some manufacturers will be forced to adopt it.” To view the whole conversation, tune in to First & Last Mile Mobility Conclave 2022.  [ad_2] Source link

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[ad_1] Exclusive-China's central bank accepts Ant's application for financial holding company- sources [ad_2] Source link

[ad_1] The proposed demerger of the Piramal Group’s pharmaceutical business is on track and is expected to be completed by the third quarter of this financial year. “It’s going as per schedule and I think by October-December quarter, we should be listed and demerged,” Ajay Piramal, chairman of Piramal Group, said. In October last year, Piramal Enterprises Ltd has approved the demerger of its pharmaceutical business – Piramal Pharma (PPL) via composite scheme of arrangement. PPL’s two wholly-owned operating subsidiaries will be also merged with it. Post the merger, PPL will become one of the largest pharma companies to be on NSE and BSE. It also had approved the amalgamation of PHL Fininvest with PEL, that will create a listed non-banking financial services entity. The merged housing finance company, post DHFL acquisition, will remain a wholly-owned subsidiary of PEL. Speaking at the FE’s Modern BFSI Summit, Piramal stressed on for a much more supportive financial system, where more credit can be given without “unnecessary risk”. In his address, Piramal also said that India is also stronger position than most countries, but to reach $10 trillion economy by 2030, growth of banking and financial sectors are “really important”. “Today, to grow at 8%, the growth in the financial sector has to be at least 16-18%. And if you see the numbers in the last several years, it has been just about 9% credit growth,” he added. “In India, private debt to GDP is just about 54%, whereas in China, if I am not mistaken, its almost like 190%. These are the growth engines that are there, but we are not doing that. And my feeling is that we will have many more banks and NBFCs in the country,” Piramal said. Today, India, for its size of population and size of economy, has just 45 banks, whereas the US has about 4,500 banks. “So, this is not sustainable,” he added. [ad_2] Source link

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[ad_1] First Thing: bodies found in search for Dom Phillips and Bruno Pereira  The Guardian US Suspect admits to murder of missing pair in Brazil  Reuters Suspect admits killing missing pair in Brazilian Amazon, authorities say  CNN The Guardian view on Dom Phillips and Bruno Pereira: justice for them, safety for others  The Guardian Suspect admits shooting Amazon pair Dom Phillips and Bruno Pereira, Brazil police say – BBC News  BBC News View Full Coverage on Google News [ad_2]

[ad_1] Marketmind: This is how it sounds like, when the doves cry [ad_2] Source link