'Sandwich generation' survey says Americans caring for children and aging parents are financially stressed
Sixty-six percent of Americans caring for kids and an aging parent said they are at least "somewhat stressed" about the costs of those responsibilities, a Policygenius survey said.
35% of millionaires say retiring securely will take 'miracle'
Some millionaires are anxious about retiring, with 35% saying doing so securely will take a "miracle," according to a survey from Natixis Investment Managers.
Contributions to retirement savings accounts reached all-time high amid COVID-19 pandemic
Savings contributions increased, hitting an all-time high and Roth 401(k) accounts have grown more popular. Here's how to determine the best savings plan for you.
Social Security benefits could not keep up with inflation in 2022: The Senior Citizens League
Social Security benefits could not keep up with inflation in 2022, according to a report by The Senior Citizens League.
Secure 2.0: More part-time workers will be eligible for 401(k) plans
Part-time employees who’ve worked two consecutive years and completed at least 500 hours of service each year can enroll in their company's 401(k) or 403(b) plans, beginning in 2025, as stated in the Secure 2.0 Act. Here’s what it means for you.
Secure 2.0 Act: Required minimum distribution age increases for IRAs
The required minimum distribution age (RMD) has increased from 72 to 73, meaning Americans can leave their investments in longer before needing to make withdrawals. Here’s what you need to know.
Most Americans don't know their life expectancy; that's a problem in retirement planning
A critical part of saving for retirement is figuring out how long the money needs to last. But most Americans do not know their life expectancy – and that worries researchers.
Social Security benefits can be taken to pay student loans in default
Up to 15% of a person’s Social Security benefits can be garnished to pay student loans in default.
New Year's financial resolutions: Americans look to boost emergency funds in 2023
Building up their emergency funds is a New Year’s financial resolution for many Americans, according to a survey by Personal Capital. Here’s how to boost your savings.
Secure 2.0 Act: Americans will be able to make tax-free transfers of 529 plan funds to Roth IRAs
Starting in 2024, Americans can make tax-free rollovers of eligible 529 plan funds to a Roth IRA in the same beneficiary’s name. Here's what that means for you.
Secure 2.0 Act will require companies to auto enroll workers into 401(k) plans
Companies that offer 401(k) plans will be required to automatically enroll their employees beginning in 2025.
Secure 2.0 Act: Student loan payments will count toward 401(K) matching contributions
The Secure Act 2.0 will let companies make 401(k) employer matches based on employees’ qualified student loan payments, beginning in 2024. Here’s how to pay down student loan debt quickly.
Secure 2.0 Act aims to revamp retirement savings system: What it means for you
The Secure 2.0 Act, which was been signed into law, may help Americans save more for retirement. Here’s what you need to know.
Nearly half of workers don't have a 401(k): Here's how you can start saving
Nearly half of private sector workers don’t have access to a 401(k) at work, but you can open an IRA and take other steps to save for retirement.
Year-end bonuses: Smart ways to use your extra cash
With the end of the year approaching, many workers anticipate getting bonuses from their employers. There are multiple good things people can do with them.
5 things to know about your 2023 taxes
There are a number of notable changes taxpayers should be aware of in the 2023 tax year as the IRS updates brackets, caps, and thresholds to account for inflation.
Adults worry inflation is creating retirement shortfall for parents, see home equity as solution: survey
Amid concern over whether aging parents will have enough retirement savings, a growing number of adults have embraced the idea of using their parents' home equity as a financial solution, according to an American Advisors Group (AAG) survey.
The 5 most tax-friendly states for retirement in 2023
With inflation hovering near a 40-year high, more retirees are looking to make a move to cut costs. Here are the most tax-friendly states in the U.S. for 2023.
IRA balances dropped nearly 25% amidst market volatility: Here's how to protect your retirement savings
IRA balances fell in the third quarter of 2022 in the midst of market volatility. Here’s how to keep your retirement on track in any economic cycle.
Inflation is top reason Americans need more savings for retirement: survey
Americans said that they needed 20% more than last year to retire comfortably, a Northwestern Mutual study said.