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.
401(k) 'hardship' withdrawals surge to record high as inflation squeezes Americans
More Americans are using their 401(k) retirement plans to help cover financial hardships as consumers continue to confront persistently high inflation.
Only 38% of Americans have discussed their aging parents finances
It is critical that adults talk with their aging parents about their finances in order to ensure they are solvent as they head into retirement. However, only 38% of people have done so.
Robinhood delivering IRA match
Robinhood announced on Tuesday it is offering individual retirement accounts (IRAs) with a 1% match on contributions.
Americans prioritize retirement savings after COVID-19 pandemic, survey says
Many Americans said the COVID-19 pandemic made saving for retirement a financial priority but 51% did not believe they have enough income to save toward this goal, a Transamerica survey said.
Florida couple loses $25,000 in 'Grandparents Scam'
An elderly couple in Central Florida was scammed out of $25,000 in what deputies are calling an elaborate "Grandparents Scam."
Labor Department clears path for 401(k) plans to offer ESG funds
Labor rule reverses Trump era rule making ESG investing more difficult. Whether ESG adds value or just promotes a socialist agenda is still hotly debated.
Average 401(k) balances drop below $100,000: Fidelity
Retirement investors at Fidelity have seen the average 401(k) balance slip below $100,000 and the rate of saving has slowed.
Ken Griffin on FTX: 'One of the absolute travesties' for financial markets
Billionaire investor Ken Griffin, the founder and CEO of multinational hedge fund Citadel, warned that the collapse of cryptocurrency giant FTX could weaken confidence in financial markets at large and hurt the ability of younger investors to save for retirement.
Growing number of retirees spending more than they can afford: survey — here’s how to save in retirement
More than a quarter (27%) of retirees are spending more than they can afford in 2022, according to a survey from the Employee Benefit Research Institute (EBRI).
Best places to retire in the US updated as inflation woes persist: Which place is No. 1?
A new U.S. survey ranks the country’s 150 most populous metro areas based on things like health care, happiness and the No. 1 factor: affordability.
Social Security benefits to rise by record amount in 2023: Check how much money you could receive
The Social Security Administration announced earlier this month that benefits are set to increase by 8.7%, the highest in 40 years as retirees face high inflation.
Social Security increase 2023: What does it mean for retirees?
Social Security recipients will see the largest benefits increase in 40 years in 2023. Here’s what that means for your retirement savings plan.
IRS raises 401(k) contribution limit by record amount as inflation rages
Contribution maximums for 401(k)s and IRAs are increasing in 2023, the IRS announced Friday, meaning Americans can stow away more money for retirement.
Record-high Social Security increase could mean steeper taxes for some retirees
Retired Americans are set to receive one of the biggest Social Security increases ever, but the bigger paychecks could push them into a higher tax bracket.
Social Security recipients to see biggest COLA increase since 1981
The Social Security Administration on Thursday announced the cost-of-living adjustment for Social Security benefits, with recipients receiving a record increase.
Many Americans plan to withdraw Social Security benefits before age 70, leaving money on the table: survey
Although 86% of Americans nearing retirement age understood that waiting until 70 meant they could collect more benefits, only 11% planned to do so, a Schroders survey said.
Inflation tops financial worries among retirees: Goldman Sachs
In addition to inflation, surveyed retirees' top concerns were about future health care, potential reductions in future Social Security benefits and running out of money.
Social Security COLA update coming this week - and it could be huge
The Social Security Administration on Thursday will announce the cost-of-living adjustment for Social Security benefits, with recipients expected to see a record increase.