Retirement savers, take note: more employers have added a Roth savings option to their workplace 401(k) plans. And, due to a legislative change, it’s likely the remaining holdouts will soon offer it, too. About 93% of 401(k) plans offered a Roth account in 2023, according to an annual poll published in December by the Plan Sponsor Council of […]
Social Security has a big birthday coming up next year — it’s turning 90! It’s kept many millions of people out of poverty for decades and was recently supporting more than 71 million people with around $1.5 trillion in benefits for the year. Remember that these benefits aren’t government largesse, too — these folks paid […]
If you’re looking for attractive dividend-paying stocks, that’s a smart move. If you’re not, perhaps reconsider — because: Healthy and growing dividend-paying stocks tend to send you cash regularly, whether the market or economy is doing well or not. They tend to increase their payouts over time, too — often annually and often by enough to […]
DALLAS – Millions of retired public service workers will soon see increased Social Security benefits thanks to a last-minute vote in the Senate. The Social Security Fairness Act restores benefits to about 3 million former teachers, police and firefighters, and civil servants who also receive pension payments. The measure passed the House in November and […]
Social Security has a big birthday coming up next year — it’s turning 90! It’s kept many millions of people out of poverty for decades and was recently supporting more than 71 million people with around $1.5 trillion in benefits for the year. Remember that these benefits aren’t government largesse — these folks paid into […]
If you plan to retire soon, double-check your math, because a law passed in the ’80s has gradually increased the age when you can collect your full Social Security benefits. In 1983, Congress passed a law that gradually increased the age at which people may receive 100% of their Social Security benefits from 65 to 67, a […]
When Trenda Boyum recently met with her financial adviser for her annual financial checkup, the retired Rasmussen University president had just sold her suburban house to move near downtown Minneapolis. “It was a good opportunity to talk about my financial goals and actual numbers after the sale,” said Boyum, 58, who is divorced and works […]
Today is not a day for good news, many families are going to see life as they know shaken up. According to recent news from the SSA (Social Security Administration), some beneficiaries could see their applications and checks cancelled if certain requirements are not met. The SSA warned some time ago that many were at […]
Employee access to a payroll deduction plan improves retirement security, yet about half of working Americans lack access to such a plan, according to a new analysis of Census Bureau data by the AARP. About half of working Americans lack access to a payroll-deduction workplace retirement savings plan, and a monthly check from Social Security […]
Investing in the S&P 500 (^GSPC 1.09%) has historically been a great way for someone to grow their wealth. As a benchmark for the broad market, the index tracks 500 of the largest and most successful U.S. companies. While you cannot invest directly in the S&P 500, a number of exchange-traded funds (ETFs) track the index at a low cost. And […]
WASHINGTON – Congress on early Saturday passed a bill that would increase Social Security benefits for public sector workers. The Social Security Fairness Act, would eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which reduce Social Security benefits for certain retirees who also receive pension income. Together, WEP and GPO affect nearly 3 million Americans including […]
A few years ago, Wes Bellamy, 38, took stock of his investment accounts in preparation to buy a home in Charlottesville, Virginia. It was then that he noticed significant gains in his 401(k). Although Bellamy, who is the chair of the political science department at Virginia State University, had been saving diligently for nearly a decade and making […]
