Many Americans don’t have access to an employer-provided retirement plan. Traditional employer-based retirement plans are typically not available for contractors, freelancers, gig economy workers, and part-time workers. And only 42% of small businesses with fewer than 100 employees offer retirement benefits, according to a LIMRA 2019 study. “We have to encourage people to start saving […]
Half of American adults started 2022 with a desire to boost their savings. That admirable intention could prove easier for those who developed good savings habits at a young age. After all, it’s possible kids who get used to regularly depositing some allowance funds in their piggy bank won’t think twice about setting money aside […]
The pandemic was hard on our savings accounts, but it’s time to get back on track. Here’s how you can accomplish your goals to do just that before the end of the year. Whether you lost a job, changed jobs, found yourself helping out a family member, or had to make an expensive cross-country move, […]
“Pennies” over “percent”? A new study finds that a simple change in information architecture, such as how the savings rate is framed, can lead to a significant boost in savings behavior among lower-income employees. Conducted in association with the Voya Behavioral Finance Institute for Innovation, researchers from Carnegie Mellon University (Dr. Richard Mason), Cornell University (Stephen […]
The American workforce has experienced an influx in early retirements—so many in fact, that the surge has contributed to what is now being referred to as “The Great Resignation.” A large portion of participants in this mass exodus are individuals born between the years of 1946 and 1964, or more commonly referred to as the […]
Lottery frenzies build whenever the Mega Millions jackpot crosses the quarter billion-dollar mark, invoking visions of big houses, fancy cars, and other luxuries. I bet almost no one thinks much about the parallels between lottery winnings and annuities. If you wonder how lotteries and annuities are linked, consider that jackpot winners face a choice in […]
Every worker should be prioritizing retirement savings to ensure they have a secure future. Investing for your later years is important because you can’t live on Social Security alone. You’ll likely need to rely on your nest egg to make up the difference between the income you need and the amount your retirement benefits provide. […]
Every worker should be prioritizing retirement savings to ensure they have a secure future. Investing for your later years is important because you can’t live on Social Security alone. You’ll likely need to rely on your nest egg to make up the difference between the income you need and the amount your retirement benefits provide. […]
For anyone considering purchasing a horse, today’s story will be especially relevant, and it began with emails from “Kent” and “Miranda.” Kent, a business owner with a stressed-out staff, wrote: “A few months ago, someone suggested that a great way of dealing with all the tension we are facing is to spend time riding a […]
DAKOTA DUNES, S.D. — We haven’t had much snow, but we’ve had plenty of cold days this winter. How can you save money heating your home when it seems like your furnace runs non-stop? “This is a tough time of the year, because it’s cold and we need heat,” said Geoff Greenwood with MidAmerican Energy. […]
Some people forget their 401(k)s, while others cash them out when leaving for a new job. It’s important to know all your choices so you don’t squander any hard-earned retirement savings. In general, you have three options, according to the Internal Revenue Service. When you leave an employer and have a defined contribution plan such as […]
Adult life is bookended by your 20s on one end and your retirement on the other. It might be hard to imagine the latter from the perspective of the former, but what you do at the starting gun will have a big say in your condition at the finish line. If you don’t save for […]
