Most people vow to start the new year off with a commitment to save more or spend less. This year, recent changes in the tax laws could help. The IRS has made inflation adjustments to a range of key figures, from the amount you can put in a 401(k) retirement plan to the individual income […]
When do you plan to retire? Many individuals have an age at which they want to call it quits. And then there’s the age when you really stop working. If you’re lucky, those ages are one and the same. But research shows that they’re likely not. Transamerica Center for Retirement Studies recently found that a […]
The 401(k) is one of the most powerful tools in your retirement planning toolbox, but in order to make the most of it, you’ll need to have a good understanding of how it works. The most important thing you can do right now is to simply start saving. Roughly half of Americans are not contributing […]
Americans have been contributing a greater share of their salaries to their 401(k) plan accounts — and that could have a substantial impact on retirement savings over time. Savers stashed away an average 7.7 percent of pay in 2018, up from 6.8 percent just two years earlier, according to the most recent figures published by […]
“We owned homes all through our careers, and they turned out to be good investments,” Joe Stermitz told Business Insider. They lived all over the US in 16 different homes, both owned and rented. Before Joe retired in 2016, they lived in a 4,000-square-foot home in southern Washington. It just wasn’t for them anymore. These […]
Americans have been contributing a greater share of their salaries to their 401(k) plan accounts — and that could have a substantial impact on retirement savings over time. Savers stashed away an average 7.7% of pay in 2018, up from 6.8% just two years earlier, according to the most recent figures published by the Plan […]
When do you plan to retire? Many individuals have an age at which they want to call it quits. And then there’s the age when you really stop working. If you’re lucky, those ages are one and the same. But research shows that they’re likely not. Transamerica Center for Retirement Studies recently found that a […]
New parents will have one new source to tap for money — their retirement savings. The Secure Act, which was passed by Congress in December, is ushering in some of the biggest changes to retirement savings since the Pension Protection Act of 2006. But experts warn that tapping your retirement accounts, even if it is […]
Though Social Security will help you pay the bills once you retire and give up your paycheck, those benefits alone can’t sustain you. That’s why you need savings of your own, and if you don’t have access to a 401(k) through your job, an IRA is another great option for building a nest egg. But the last […]
The Secure Act passed by Congress at the end of 2019 is the biggest change in U.S. retirement savings policy since the Pension Protection Act in 2006. The Secure Act aims to expand retirement savings opportunities, give retirees more freedom on when to withdraw their retirement savings from IRA plans, and expand access to annuities […]
As 2020 takes hold, about half of Americans say they’re committed to saving more for retirement this year, according to a recent Fidelity survey. That’s good news because many are woefully behind. In fact, more than 1 in 2 Americans admit they’re not saving enough, and 38 percent say they still don’t have a retirement account. Experts applaud […]
Saving money isn’t always fun or easy — but it’s a necessary thing to do if you want to get your financial house in order. We all need near-term savings for emergency expenses, and we all need a solid amount of retirement savings to pay our bills in the future. If you’ve been known to neglect your […]
