We all want to retire with enough money to pay our bills and enjoy a comfortable lifestyle. But saving for retirement takes work, and it means sacrificing other luxuries along the way. Here’s the good news, though: There are a few simple steps you can take to increase your retirement wealth and put yourself in a better […]
Though a number of your living costs may go down once your career comes to a close, there’s one expense that’s highly likely to rise: healthcare. In fact, many current seniors spend more money on healthcare than on any other individual expense, and future retirees are likely to see their costs climb even higher. In […]
Amid coronavirus and an economic crisis, saving for college may no longer be a priority — or even a necessity. With many families struggling to stay afloat, regular contributions to a 529 college savings plan could take a back seat to paying more pressing bills or daily expenses. At the same time, market volatility as […]
We all want to retire with enough money to pay our bills and enjoy a comfortable lifestyle. But saving for retirement takes work, and it means sacrificing other luxuries along the way. Here’s the good news, though: There are a few simple steps you can take to increase your retirement wealth and put yourself in […]
Despite partisan division on a number of issues in the nation’s capital, lawmakers from both sides of the aisle appear to agree on the need to help Americans save more for retirement. A proposed bill includes a number of retirement reform measures, including a few notable changes that would encourage people to start saving earlier […]
When you think about your money, your brain may be pulled in a number of different directions: the cash coming into your checking account, the expenses you pay each month, the charges on your credit card and the funds you’re investing to grow for retirement. Instead of juggling all those amounts in separate places, personal […]
When you applied for your job, you probably asked whether your company had a 401(k) and whether it matched employee contributions. But most people don’t dig any further than this. That might be all you need to know when you’re considering the job, but if you’re going to actually use your company’s 401(k), you need […]
Looking for ways to ramp up your retirement savings plan? Here’s an easy one to consider. Carve out an extra $150 from your budget to increase your 401(k) contributions. Then, invest the money in a solid mutual fund that gives you exposure to the largest publicly traded companies. Stick with that program for long enough […]
There’s good news and bad news from the IRS for Americans saving for retirement with IRAs, 401(k)s, and other retirement accounts in 2021. Let’s start with the bad news: Contribution limits won’t go up next year. And now the good news: The maximum income levels allowed to make deductible contributions to traditional IRAs, contribute to Roth IRAs, and claim […]
You probably wouldn’t quit your job or hand over your bank account information without knowing how these decisions could potentially affect your finances. But when it comes to Social Security, people often start benefits without understanding how their choices will affect their checks and their lifetime benefit. That’s an easy way to cost yourself money. […]
When you think of Social Security, a number of thoughts may pop up in your mind — some good and some bad. While it is not without flaws, Social Security is the biggest social program in America, and it is because of it that many seniors can pay their monthly bills. Since its inception, millions […]
For tens of millions of Americans, there isn’t a program that bears more importance to their financial well-being than Social Security. According to the Social Security Administration (SSA), 62% of current retirees lean on the program to account for at least half their monthly income. Additionally, more than 15 million retired workers are pulled out […]
