- Can You Retire on $1.5 Million Comfortably?
To figure out if $1.5 million is enough for retirement, you’ll need to factor in Social Security, pension and other income, as well as fixed and variable costs. For instance, your lifestyle and how long you will live in retirement… read more…
- Should You Take Advantage of Robinhood’s 1% Match on IRAs and Roth IRAs?
After bursting on the financial scene during the meme-stock hoopla and attracting hordes of investors at the beginning of the pandemic lock-downs, trading platform Robinhood will start offering Individual Retirement Accounts – and offering investors a 1% “match” on their… read more…
- 4 Retirement Planning Moves That Can Save Big on Taxes, Including Capital Gains
When it comes to investing for retirement it’s not just a matter of how much you make – it’s also a matter of how much you keep. The surest way to boost the returns on your retirement money can come… read more…
- When to Pay Off Debt or Save for Retirement
For many people, debt is the biggest obstacle to saving for their retirement. In particular, millennials and Gen Z workers often have to choose between contributing to their 401(k)s or paying off tens of thousands in student loans. The time value… read more…
- How to Roll Over a 403(b) to an IRA
A 403(b) is a tax-advantaged retirement account built for employees of tax-exempt organizations and public school teachers. It works like other tax-advantaged retirement accounts, including 401(k)s offered by private employers and IRAs offered to individuals. In some cases, like when… read more…
- Could Working After Age 70 Increase Social Security?
Working after age 70 could increase your Social Security benefits, if you’re earning a high salary or didn’t have a robust earnings history in your younger years. Let’s break down how you can increase your benefits and how it can… read more…
- If You Delay Retirement, You Should Also Delay This
For many reasons, including rising costs of living and longevity, Americans are delaying their retirement. While workers in the past would try to hang it up at around 62, workers now are frequently planning on working into their 70s. If… read more…
- What You Need to Know About Retirement Income Replacement Rate
Ensuring you have enough money socked away for retirement is a difficult task. Calculating exactly how much you’ll need in the future — with the moving target of unexpected healthcare costs and the uncertainty of your life expectancy — can… read more…
- The Secure 2.0 Act Was Signed into Law. Here’s What You Need to Know
The SECURE 2.0 Act was passed by Congress as part of a year-end spending bill. This retirement plan legislation is an expanded version of the SECURE Act of 2019, which aims to improve retirement laws on savings accounts. The bill was… read more…
- Alternatives to Annuities for Retirement Income
Annuities are a popular choice for retirees concerned they might outlive their retirement savings. These retirement savings vehicles work a bit differently than traditional or Roth retirement accounts. Instead, annuities are a type of contract you enter into with an… read more…
- Why Delaying Social Security Is More Lucrative Than Ever
Americans are contending with rampant, pandemic-ignited inflation, which is expected to clock in at 10.6% for November compared to a year ago. To counter this high-inflation environment, Social Security payments are set to have a massive hike next year. The… read more…
- Don’t Let Your Old 401(k) Become an Orphan: Here’s What to Do
U.S. workers have left more than $1 trillion in 401(k)s with former employers. That might not be all bad, especially if those plans are doing well. However, sometimes they aren’t, and these tax-advantaged accounts are neglected by their owners. Before… read more…
- Want to Make Sure Your Retirement Contributions Are Actually Going Into Your 401(k)? This New Rule Could Help
Money deducted from your paycheck for contributions to a 401(k) retirement savings plan, or to repay a loan from your plan, is supposed to go directly to the investments you’ve selected. If it doesn’t, the U.S. Dept. of Labor and… read more…
- How Much Does the Average 70-Year-Old Have in Savings?
Part of retirement planning includes determining how much to save and invest so you can enjoy the type of lifestyle you desire. Setting your savings target by age can be a good way to organize your strategy and gauge how… read more…
- What Happens to Your 401(k) When You Quit a Job?
If you’re quitting a job, you may be pleased to leave behind certain disgruntled coworkers and perhaps an overbearing workload. But one thing you may want to take with you is your 401(k). And yet, contrary to what you might… read more…
- Social Security Payment Schedule for 2025
Every year, the Social Security Administration issues a calendar of when the various Social Security benefits are going to be paid for the following year. All Social Security benefits are paid electronically. The Social Security Administration stopped sending paper checks… read more…
- Empty Nester? This Avoidable Mistake Could Jeopardize Your Retirement
Saving for retirement is a lifelong undertaking. It involves keeping your retirement goals in mind as you have children, get different jobs and move from place to place. However, a recent study from the Center for Retirement Research at Boston College… read more…
- How to Retire at 63: Step-by-Step Plan
Technically speaking, leaving the workforce between the ages of 61 and 65 is considered to be early retirement. However, according to the Life Insurance and Market Research Association, about 51% of Americans retire between the ages of 61 and 65. The average… read more…
- How Does a 401(k) Work When You Retire?
After retirement you can start withdrawing the money you have accumulated over the years in your 401(k). However, a number of rules govern retirees’ 401(k) distributions. For instance, in most cases to avoid penalties you have to wait until after… read more…
- How to Start a Retirement Fund
Saving for retirement is an important part of financial planning for nearly all Americans. There is currently a gap of $28 trillion between what Americans have saved for retirement and what they actually need, and that’s expected to grow to… read more…
- Cost of Home Care vs. Nursing Homes
Many people get the opportunity to analyze whether it is more affordable to get home care or to live in a nursing facility. Whether it’s your aging parents, or if you’re getting up there in years, you may be comparing… read more…
- Can You Borrow from an IRA Without Penalties?
The Internal Revenue Service prohibits individual retirement account owners from borrowing against funds in their accounts. Still, a number of exclusions and workarounds can allow at least temporary use of IRA funds before reaching retirement age. The effort calls for… read more…
- The Secret For Women to Make Retirement Income Last? Get a Financial Advisor
Women struggle to make their retirement funds last, according to a recent study from Alliance for Lifetime Income (ALI), an insurance and investment group, that produced a “State of Women 2022” report with HerMoney.com. That’s because their earnings are hamstrung… read more…
- Should You Pause 401(k) Contributions in a Bear Market? Morningstar Compares Alternatives
Morningstar recently compared the numbers on different scenarios for investors who may be thinking of pausing their 401(k) contributions. The result was not favorable for those who opted to stop contributing to their retirement plans, and the data showed that… read more…
- Making a 401(k) Withdrawal for a Home Purchase
Buying a home is an important financial milestone. In fact, it’s most likely one of the largest purchases you’ll make in your lifetime. You may be tempted to make a 401(k) withdrawal for a home purchase, especially if you need… read more…