https://www.thrivent.com/insights/retirement-basics Retirement basics en-US Fri, 29 Nov 2024 21:26:10 GMT https://www.thrivent.com/insights/retirement-basics/what-is-magi-retirement-income-how-does-it-affect-you Your modified adjusted gross Income (MAGI) affects everything from taxes you pay on Medicare to your options for saving for retirement. Here's how MAGI works and strategies for a more tax-efficient retirement. Fri, 29 Nov 2024 21:26:10 GMT https://www.thrivent.com/insights/retirement-basics/what-is-magi-retirement-income-how-does-it-affect-you https://www.thrivent.com/insights/retirement-basics/cash-balance-pension-plans-explained With the decline of traditional pensions and the rise of cash balance programs, it's important to know how a cash benefit program could boost your retirement savings. These employer-sponsored plans offer guaranteed retirement benefits and a cash value that accumulates based on salary and years of service. See how they work and how they compare to a 401(k). Wed, 18 Dec 2024 18:59:19 GMT https://www.thrivent.com/insights/retirement-basics/cash-balance-pension-plans-explained https://www.thrivent.com/insights/retirement-basics/a-simple-guide-to-the-many-types-of-retirement-accounts The different types of retirement accounts may feel like an alphabet soup of names, benefits and eligibility. Get details on the differences and how to choose what's best for you. Wed, 18 Dec 2024 17:56:16 GMT https://www.thrivent.com/insights/retirement-basics/a-simple-guide-to-the-many-types-of-retirement-accounts https://www.thrivent.com/insights/retirement-basics/what-is-a-403b-understanding-your-public-sector-retirement-plan A 403(b) plan is a powerful tax-advantaged retirement savings tool for public sector employees. This article explores how 403(b) plans work, covering 2026 contribution limits, Roth and traditional options, and investment choices like mutual funds and annuities. Learn how these plans can help maximize your retirement savings. Wed, 29 Jan 2025 19:39:35 GMT https://www.thrivent.com/insights/retirement-basics/what-is-a-403b-understanding-your-public-sector-retirement-plan https://www.thrivent.com/insights/retirement-basics/ira-vs-401k-the-differences When it comes to building retirement savings, IRAs and 401(k)s are two powerful tools with unique tax benefits and limitations. Understanding the differences can help you choose the best option to support your retirement dreams—whether that's family time, community involvement or charitable giving. Thu, 06 Mar 2025 20:37:27 GMT https://www.thrivent.com/insights/retirement-basics/ira-vs-401k-the-differences https://www.thrivent.com/insights/retirement-basics/what-is-a-pension-how-does-it-work If you earn a pension during your working years, you have a source of retirement income that can last as long as you live. That's a guarantee some other retirement savings options don't offer. Here's everything you need to know about pensions. Thu, 17 Apr 2025 22:57:35 GMT https://www.thrivent.com/insights/retirement-basics/what-is-a-pension-how-does-it-work https://www.thrivent.com/insights/retirement-basics/how-sep-iras-work-what-business-owners-need-to-know SEP IRAs are a simple retirement plan option for small businesses and self-employed individuals. Learn how they work, what the IRS requires and how to decide if they're right for you. Tue, 20 Jan 2026 14:54:07 GMT https://www.thrivent.com/insights/retirement-basics/how-sep-iras-work-what-business-owners-need-to-know https://www.thrivent.com/insights/retirement-planning/pension-rollover-to-a-roth-ira-how-it-works-when-to-consider-it Learn how a pension rollover to a Roth IRA works, the tax implications and when this strategy may make sense for your retirement plan. Wed, 22 Apr 2026 19:31:36 GMT https://www.thrivent.com/insights/retirement-planning/pension-rollover-to-a-roth-ira-how-it-works-when-to-consider-it https://www.thrivent.com/insights/retirement-basics/the-benefits-of-traditional-iras Traditional IRAs provide the possibility for tax-deductible contributions and tax-deferred growth, a combination of features that can help your dollars go significantly further. Even if you have a 401(k) plan at work, an IRA can help you supplement your savings so you're financially ready for retirement. Mon, 09 Mar 2026 17:02:52 GMT https://www.thrivent.com/insights/retirement-basics/the-benefits-of-traditional-iras https://www.thrivent.com/insights/retirement-basics/whats-the-difference-between-401k-and-403b-plans Compare 401(k) and 403(b) retirement plans and learn about their shared benefits and key differences, including the types of employers offering each plan, vesting schedules and investment options. Get guidance on choosing the right plan based on employer offerings and individual financial goals. Mon, 13 Jan 2025 21:26:22 GMT https://www.thrivent.com/insights/retirement-basics/whats-the-difference-between-401k-and-403b-plans https://www.thrivent.com/insights/retirement-basics/roth-vs-traditional-ira-learn-key-differences-and-how-to-choose Roth and traditional IRAs are excellent retirement savings vehicles. Understanding the differences between these account types can help you plan for the best retirement possible. Wed, 09 Apr 2025 20:06:43 GMT https://www.thrivent.com/insights/retirement-basics/roth-vs-traditional-ira-learn-key-differences-and-how-to-choose https://www.thrivent.com/insights/retirement-basics/retirement-plan-contribution-limits Saving enough for retirement takes time, dedication and coordination. When you put money into an employer-sponsored plan or an individual retirement account (IRA), you get certain tax benefits as an incentive for saving for your future. Fri, 09 Jan 2026 15:20:04 GMT https://www.thrivent.com/insights/retirement-basics/retirement-plan-contribution-limits https://www.thrivent.com/insights/retirement-basics/what-is-a-401k-and-how-can-you-make-the-most-of-it Explore how 401(k) plans work, the benefits of participating—including employer matches and tax-deferred growth—and important considerations like eligibility, contribution limits, and withdrawal rules. Wed, 22 Jan 2025 15:59:54 GMT https://www.thrivent.com/insights/retirement-basics/what-is-a-401k-and-how-can-you-make-the-most-of-it https://www.thrivent.com/insights/retirement-basics/how-iras-work-an-overview Whether you plan to volunteer, help raise grandchildren or take up pickleball, retirement is the time to chase your dreams. For most adults, building enough assets to live comfortably without a paycheck requires a comprehensive savings strategy. Individual retirement accounts, or IRAs, can play an important role. Wed, 04 Oct 2023 19:35:08 GMT https://www.thrivent.com/insights/retirement-basics/how-iras-work-an-overview https://www.thrivent.com/insights/retirement-basics/whats-an-rmd-and-how-does-it-affect-retirement-savings Many people spend their entire working lives building up retirement savings. But while the focus on retirement planning often centers around saving, there's less conversation around withdrawal strategies and how they relate to your taxes. Fri, 08 Sep 2023 13:51:20 GMT https://www.thrivent.com/insights/retirement-basics/whats-an-rmd-and-how-does-it-affect-retirement-savings