Being home alone is a retirement reality for many. According to government data, more than three in 10 women and two in 10 men at least age 65 live alone. For women, the odds of being solo increase with age, thanks in part to longer life expectancy; in 2018, 44% of women at least age […]
Category: Personal Finance
3 Reasons Your Retirement Savings Aren’t Growing as Fast as You’d Like
You contribute to your retirement accounts diligently, but it seems like your balance barely budges. Sound familiar? You’re not alone. But fortunately, you’re not out of luck either. There can be many causes for a stagnant retirement balance, but here are three of the most common and what you can do to solve them 1. […]
This rarely used tax loophole is helping some bitcoin holders save tons of cash
Bitcoin is down around 36% from its all-time high in November, but the dip has a good side, thanks to a quirk in the tax code that helps crypto holders shield their winnings from the IRS. The IRS treats cryptocurrencies like property, meaning that anytime you spend, exchange, or sell your tokens, you’re logging a […]
Here is the age when many Americans hope to retire
Many workers look forward to the day when they can retire. A recent survey from Natixis Investment Managers set out to find out exactly when most Americans hope to stop working. The average age is 62, the research found. However, it turns out when people to hang up their hats varies by generation. The youngest […]
Here are 4 ways to get your retirement savings plan back on track
Saving for retirement can seem like a far-off goal when other priorities — from day-to-day expenses to managing debts — feel more urgent. But if you don’t consistently put money aside toward your so-called golden years, you could fall behind. There’s a $4 trillion difference between the retirement savings workers will need and what they […]
5 ways to maximize your retirement savings: Get your full 401(k) match, front-load savings
The start of a new year is an opportune time for investors to evaluate their retirement savings strategy and make updates if necessary. Making the most of your retirement contributions today will allow you to spend more in retirement or retire sooner if you choose. As you look at your retirement strategy, consider these five […]
Is Traditional Retirement a Thing of the Past? Experts Weigh In
The dream of retirement is eternal, but the expectations of post-career life as a senior in America have evolved since the time of the gold watch and the employee pension. The pandemic has forced changes that will alter the concept of retirement in the future — and that evolution is already taking place. The Great […]
How small businesses can help employees prepare for retirement
Employees’ retirement plans took a hit as the pandemic forced workers to focus on immediate financial concerns rather than long-term savings, but for some employees — particularly those working for small businesses — the idea of a financially secure retirement has never been a guarantee. In the U.S., of the 5.8 million small businesses — […]
5 Financial Resolutions That Should Be on Every Investor’s List
A 2021 survey from insurer MassMutual reports that 26% of Americans had planned on making a financial resolution in the new year. A smaller percentage will focus their financial resolutions on investing specifically. If you’re in that second group, here are five investing resolutions to help you create a richer, happier future. 1. Document or […]
45,674 Reasons to Max Out Your IRA in 2022
For a lot of people, the dawn of a new year feels like hitting the reset button — and when it comes to saving for retirement, it actually is. On Jan. 1, we all start at $0 in annual IRA contributions, and we have the whole year to contribute up to the limit. In 2022, […]
‘Great retirement’ driven by older female baby boomers
(Bloomberg) –The surge in U.S. retirements during the Covid-19 pandemic was led by older White women without a college education, according to research by the St. Louis Federal Reserve. The so-called Great Retirement trend that saw workers leave the labor market — whether forced or by choice — was driven by baby boomers aged 65 […]
What you need to know about combining retirement accounts with your spouse
It’s likely you’ve spoken with your spouse about managing finances before you said your “I do’s,” yet there’s a good chance you left a big topic off the table, given it may not have been top of mind at the time — and that’s retirement. You and your partner’s golden years may be decades away, […]