It’s open enrollment season, which means it’s time for most workers to choose benefits for the year ahead. Health insurance is one of the most popular benefits that workers review yearly, but there is...
Tag: Retirement planning
TreasuryDirect crashes as investors try to beat key I bond deadline
Shapecharge | E+ | Getty Images Investors crashed the Treasury Department website for Series I bonds on Friday as they clamored to lock in a record-high interest rate before a key deadline. I bonds ha...
‘We are facing a retirement crisis in our country,’ says head of TIAA, as ‘40% of Americans run the risk of running out of money’
“ ‘We are facing a retirement crisis in our country’” — Thasunda Brown Duckett, president and CEO of TIAA That’s CEO of TIAA Thasunda Brown Duckett, who oversees some $1.2 trillion of retirement asset...
Americans think they need $1.25 million to retire. Is that even enough?
Americans think they need $1.25 million to retire comfortably, new research suggests, but while that number may seem hefty — it still may not be enough. A study from Northwestern Mutual released this ...
Millions of working Americans are living paycheck-to-paycheck — and running out of cash as another recession looms
Inflation is taking its toll on people’s emergency funds. The share of workers who say they are living paycheck-to-paycheck has surged among middle- to high-income earners — 63% and 49%, respectively ...
Americans Say They Need $1.2 Million to Retire. Most Aren’t Saving Enough.
When it comes to retirement, Americans are simultaneously determining they need more stashed away to have a comfortable retirement and falling behind their savings goals. That’s according to two new s...
‘Ugly times’ are pushing record annuity sales. What buyers should know
Izusek | E+ | Getty Images Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers. Annuity sales in the third quarter of 2022 approac...
Young investors can retire rich—or super rich — by following these steps
Real life provides us with literally millions of individual financial scenarios, making it hard to dish out blanket investment advice. But if you’re in your early or mid 20s, you have a golden opportu...
My boyfriend has a nicer house, and says I should live with him. My mortgage is paid off. He believes I should pay half of his monthly costs. Is that fair?
Dear Quentin, My boyfriend owns a house with a 30-year mortgage balance of $150,000 on a 4% interest rate. He has $275,000 in cash and retirement accounts. He is retired. My house is paid off. I have ...
Personal savings have plunged — how to boost your savings in case of a recession
As red flags go, this is a big one. The personal savings of Americans have plunged this year, hitting $629 billion in the second quarter of 2022, according to data from the Federal Reserve Bank of St....
You must buy Series I bonds by Oct. 28 to get 9.62% annual interest
Insta_photos | Istock | Getty Images If you’re eager to secure 9.62% annual interest for Series I bonds for six months, the deadline is quickly approaching. You must purchase I bonds and receive...
How bad could it get for your 401(k)?
Probably the best argument for investing some more of our 401(k)s in the stock market right now is all the people telling us not to. As a general rule, it’s been a good time to be bullish when so many...
What to do with your cash if you’re retired or retiring soon
The saying goes, “cash is king,” but having a plan for how to make the most of it during a high-inflation environment is still the best strategy – especially for retirees and near-retirees. Read: Inf...
How to save above 401(k) deferral limits with after-tax contributions
If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer...
Opinion: The limit for 401(k) contributions will jump nearly 10% in 2023, but it’s not always a good idea to max out retirement investing
The federal government will allow you to save nearly 10% more for retirement in 2023. But it’s not likely that many will take advantage of the tax break. The simple reason: Most people don’t make enou...
Opinion: Liz Truss is out — why that might be good for your 401(k)
The British pound rose on the news that Liz Truss was standing down. (It’s now the best performing currency of the last month, if you can believe). The interest rate on British government bonds fell. ...
RMDs Will Be a Heavy Lift for Those Who Delayed Them
Retirees who have postponed taking this year’s required minimumdistributions (RMDs) from their 401(k)s and individual retirement accounts face a bitter task before year-end: withdrawing assets when po...
IRS sets new 401(k) limits — investors can save a lot more money in 2023
People can contribute up to $22,500 in 401(k) accounts and $6,500 in IRAs in 2023, the IRS said Friday. For 401(k)s, that’s an almost 10% increase from 2022’s contribution limit of $20,500. For IRAs, ...
How to save a bundle on your tax return
This is Part Two of our list of suggested year-end strategies. Part 1 discusses gaming the federal standard deduction, and managing capital gains and losses. The tax environment is getting friendlier ...
Want to get richer? You may need to stop looking at saving money like this, and start viewing it like this instead
While some experts say saving aggressively, early and often, is the best way to prepare for retirement, many economists suggest “savings rates should on average be low or negative early in life, high ...
This simple chart reveals how much you need to save at 35 to become a millionaire by 65
What it takes to become a millionaire Getty Images/iStockphoto If you’re in your 30s and already dreaming of retirement, you may be wondering: Just how much do I need to start socking away to retire? ...
Classic 60/40 investing strategy sees worst return in 100 years. How about 40/60?
Rules of thumb in investing appear to no longer apply in the carnage of 2022 in financial markets. Advocates for the 60/40 portfolio split, designed to capture the upside of stocks, but offer investor...
There’s no rush to buy I-bonds
This week’s worse-than-expected inflation report led to turmoil in more than one market, but you only read about one of them. The market that got all the headlines was in stocks, since in the wake of ...
Series I bond rate expected to fall to roughly 6.48% in November
Morsa Images | E+ | Getty Images Fixed rate for I bonds will ‘most likely be zero’ I bond rates have two parts, a fixed rate, which remains the same after purchase, and a variable rate, wh...
Opinion: There’s a rush to buy I-bonds to lock in a high yield, but there may be an even better deal next week
It’s hard to imagine that there could be a better deal for parking up to $10,000 in savings than Series I bonds, at this very moment. The 9.62% yield is top-notch, and you can count the hours before i...