- Average Retirement Savings for Married Couples By Age
According to a study from the career experts at Zety, 40% of respondents fear retirement more than death itself.1 And almost nine out of 10 respondents said their biggest fear in retirement is not having enough income, with many wondering how much a couple needs to retire. For married couples, planning retirement for two people can be… read more…
- Can You Lose Your 401(k)?
Employer-sponsored retirement plans are one of the best ways for working Americans to build wealth. They offer tax advantages, allow your money to grow over time and many employers even match your contributions. But the job market is changing and… read more…
- HSA Investment Strategy: Guide
With an HSA investment strategy, account holders can grow health care savings through mutual funds, ETFs or similar investments. While HSAs are commonly used for short-term medical expenses, the option to invest contributions allows for long-term compounding and potential tax-free growth. Choosing when and how to invest depends on individual healthcare needs, risk tolerance and… read more…
- Average Retirement Savings for Baby Boomers
The Baby Boomer generation is reaching retirement age in record numbers. With more Boomers retiring on a daily basis, it helps to understand how prepared they are to leave their jobs for good. In this article, we’ll discuss the average retirement savings for Baby Boomers, and provide tips for how to boost retirement income. Regardless… read more…
- Here’s a New Way to Generate Lifetime Income for Retirement
Many adults approaching retirement age have little to no retirement savings. In fact, the U.S. Government Accountability Office said that almost 50% of households headed by someone aged 55 and older had no retirement savings in 2016. And as the retirement age for Social Security rises, and inflation hits wallets across the country, it’s understandable that many… read more…
- How Your Employer Can Protect $150K of Your Retirement Savings
Borrowing money from your 401(k) can seem like a fast, efficient and low-cost alternative to taking out a personal loan or a line of credit. Since you’re both the borrower and lender, repaying a 401(k) loan means you earn interest from yourself. But 401(k) loans come with a considerable risk: the possibility of a costly… read more…
- Brokerage Account vs. Roth IRA
Brokerage accounts and individual retirement accounts (IRAs) offer two very different ways to invest. A Roth IRA, for example, can offer the advantage of tax-free distributions in retirement while a brokerage account doesn’t cap annual contributions. You might choose to open one account or both, depending on your needs. Understanding the differences between a brokerage… read more…
- Benefits of Using an HSA for Retirement
There is a variety of tools that can help you save for retirement. While many of us know about 401(k)s and IRAs, not as many may be familiar with health savings accounts (HSAs). These are savings accounts designed for people with high-deductible health plans. Funds from an HSA account can cover qualified medical expenses and… read more…
- Can I Reinvest My Required Minimum Distribution?
As you approach retirement, understanding the nuances of your financial obligations becomes increasingly important. Required minimum distributions (RMD) are a mandate that require individuals to withdraw a certain amount from their pre-tax retirement accounts annually, starting at age 73. But what if you don’t need these funds for immediate expenses? Can you reinvest your RMD… read more…
- Getting a Mortgage With Only Social Security Income
Retiring on a fixed income does not preclude you from getting a home loan. You may not qualify for a larger mortgage that requires more earned income. Still, you can get a home loan with Social Security alone. However, not having regular income from a job or retirement accounts will make securing a mortgage more… read more…
- Can Your Spouse Empty a 401(k) Without Your Consent? Senators Call on Government to Investigate
Saving for retirement is one of the most pressing concerns for many Americans, and how to safeguard those funds is an equally important consideration. Private employer-sponsored defined contribution plans have become the primary retirement account vehicle, with more than 90% of eligible workers contributing to a retirement plan this past year. However, unlike the traditional… read more…
- Your 401(k) Could Soon Get a $10,000 Catch-up Boost
The SECURE 2.0 Act is a follow up to the 2019 bill that made changes to the way Americans save for retirement. It was passed by Congress in December 2022. There are various important provisions in this retirement legislation, but one… read more…
- Best Retirement Planning Books to Buy in 2025
We’re living in the golden age of information. The proliferation of smartphones and WiFi has meant the answer to seemingly any financial question rests at your fingertips. While the internet provides endless opportunities for increasing financial literacy, books remain one… read more…
- Investing in Cryptocurrency With a Self-Directed IRA
Cryptocurrency can add diversification to your portfolio. Your brokerage may allow you to trade digital currencies through a taxable account but you could also use a self-directed IRA to invest in crypto for retirement. A self-directed IRA doesn’t follow the same rules as a traditional or Roth IRA. If you’re considering a self-directed IRA for… read more…
- Secure 2.0 Act: How Your RMDs Might Be Impacted
The Securing a Strong Retirement Act of 2022, dubbed SECURE 2.0 Act, will replace the current age for required minimum distributions (RMDs) with a sliding scale that would enable anybody who turns 74 after December 31, 2032 to delay RMDs… read more…
- New Bill May Allow Penalty-Free 401(k) Withdrawals for This Retirement Expense
When planning for the future, health care ranks as one of the highest concerns for both savers and retirees alike. Not only are health care costs rising by more than 5% every year, but rampant inflation and volatile market performances have also added extra pressure to retirement savings, making many older Americans wonder if they… read more…
- How to Calculate Your High-3 for Federal Retirement
The high-3 retirement calculation helps determine pension benefits for federal employees under the Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS). The high-3 average reflects the average salary from the highest-paid 36 consecutive months. This period isn’t always the final three years of employment This figure plays a key role in estimating… read more…
- Five Retirement Risks to Avoid
While 79% of Americans told Fidelity Investments in 2022 that they are confident about their retirement planning, 71% also said that they are concerned about the impact of inflation on reaching their retirement goals. Uncertainty can make people feel anxious about… read more…
- The IRS May Make Your Roth IRA More Valuable With This RMD Rule Change
The Internal Revenue Service has proposed rule changes that could significantly impact how beneficiaries will manage inherited retirement accounts. The proposed regulations, which were published last month, caught some in the financial services industry by surprise, as they offer a new interpretation of the SECURE Act and change the rules governing the required minimum distributions… read more…
- The Most Common Annuity Riders, and How They Work
Annuities are insurance products designed to provide you with a guaranteed stream of income, while an annuity rider can be added to an existing annuity contract to expand or enhance its benefits. There are different categories of annuity riders you might choose to add, depending on your financial needs. Understanding the different types of riders… read more…
- JPMorgan Launches New Retirement Tool to Help You Generate Income
There’s more to retirement planning than just saving your money. Wealth accumulation is a vital component of a successful plan, but it’s only half of the calculus. How you withdraw your hard-earned savings over the course of retirement is nearly equally as important. JPMorgan Asset Management announced the launch of a new tool to help… read more…
- Can I Retire at 60 With $300,000?
While it’s possible to retire at 60 with just $300,000, you’ll most likely need to maintain a modest standard of living. To understand what a 60-year-old with $300,000 might face, it’s important to consider their income both before and after Social Security, as well as post-retirement expenses. The specifics for your exact situation may vary,… read more…
- Can You Have More Than One 401(k)?
Wondering if you can have more than one 401(k)? The answer is yes, but with some qualifications. You can contribute to multiple 401(k) plans if you work for different employers. You may also do so if your employer offers both traditional and Roth options. However, the IRS sets combined contribution limits across all your 401(k)… read more…
- How to Retire at 52: Step-by-Step Plan
Many Americans dream of early retirement. It’s even the basis for movements like FIRE, which stands for Financial Independence, Retire Early. But if you want to retire as soon as 52, you need a solid strategy to help you get there. Retiring in your 50s leaves you with less time than the average worker, making it… read more…
- What Is a Registered Index-Linked Annuity (RILA)?
A registered index-linked annuity (RILA) is a specific type of annuity that’s designed to provide income while managing risk. A RILA tracks the movement of a stock market index in order to produce positive returns, while simultaneously giving the annuitant the ability to establish a maximum risk threshold. This version of an annuity could be… read more…