Let your retirement accounts grow and remain in place until retirement. About one in three investors cashed out their 401(k) before reaching age 59 1/2, per data from Fidelity Investments. When you change jobs, instead of cashing out a 401(k) account, just roll it over into an IRA. Don’t borrow from your 401(k) plan, either, unless it’s an emergency and you really have no better option. That’s another way of stealing from your financial future.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel United Methodist Church (UMC) in Montross, VA. Rev. Dr. Taylor promotes best practices by teaching financial literacy workshops and currently serves as Finance Chair in the Rappahannock River District for the UMC. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.