On December 29, 2022, the SECURE Act 2.0 of 2022 was signed into law to enhance America’s retirement savings outlook. Since the original SECURE Act (Setting Every Community Up for Retirement Enhanceme...
Tag: Retirement
This 72-year-old is hoping to fund her retirement on GoFundMe
GoFundMe campaigns have been raising piles of cash for older Walmart workers who want to retire — but the heartwarming stories about sudden windfalls mask a dark reality about economic security and gr...
Retirement Catch-Up Contributions Get Bigger But Beware These Tax Changes
SmartAsset: Catch-up contributions get bigger – but some are taxable The benefits of aging include senior discounts, wisdom gained from experience and – when it comes to retirement saving – catch-up c...
New retirement withdrawal rule is a boon for wealthy seniors
New retirement rules in legislation signed by President Biden in December contain a handful of changes to required withdrawals from retirement accounts that score big brownie points with well-heeled s...
I Want to Stay Busy During Retirement. Can I Work Still?
Retired woman at her job Are you retired but interested in going back to work? Unless you’ve developed some hobbies or have significant interests outside your career, retirement can be a lonely place....
Retirement may be bad for your brain. Is working longer the solution?
When we retire from our jobs we may be giving up more than staff meetings, desk lunches and a paycheck. The social interaction and mental challenges found through work can be good for our mental healt...
This is the ‘biggest retirement decision you make,’ one expert says
As people prepare for retirement, there are many issues to consider, but one tops them all, according to one expert. “Where you live could actually probably be the biggest retirement decision yo...
How New Rules On Your Retirement Money Can Help You
401k rollover memo. getty You might not know why you should care, but as of last summer, financial advisors and their firms faced more stringent rules as it relates to retirement rollovers. We ask Jul...
Should you add $30,000 to your retirement with an after-tax auto Roth conversion?
If you are saving up to the employee limit in your workplace retirement accounts and looking to add more, you’ll be glad to hear that employers are making it easier than ever to make extra after-tax c...
Treasury Taps Retirement Funds to Avoid Breaching US Debt Limit
(Bloomberg) — The Treasury Department is beginning the use of special measures to avoid a US payments default, after the federal debt limit was reached Thursday. Most Read from Bloomberg The dep...
2022 was rough. But here are 5 brand new retirement savings and tax rules that could give you a big boost in 2023 — get to know them now
2022 was rough. But here are 5 brand new retirement savings and tax rules that could give you a big boost in 2023 — get to know them now After a year of record-breaking inflation and a volatile market...
The Biggest Retirement Legislation in Our Lifetimes
Last year’s combination of inflation, economic uncertainty, tanking stock, and bond markets threw a monkey wrench into millions of Americans’ retirement plans. Which is why we should all breathe a si...
New retirement withdrawal rule could backfire in costly way
A new law increasing the age you must withdraw from your retirement accounts may come with some unexpected and expensive consequences. President Biden inked in December pushes the age that retirees mu...
Nordstrom’s Chief Merchant Sets Retirement
Nordstrom Inc. chief merchandising officer Teri Bariquit is retiring after 37 years at the company. The Seattle-based retailer has started a search for a successor and will be considering both interna...
How to save for retirement when you’re in your 30s
This article was originally published on Bankrate.com. In your 30s, responsibilities pick up. You’re likely to buy your first home and grow your family. Marriage, a mortgage and little mouths to feed ...
Secure 2.0 Lets Retirees Delay RMDs. That Doesn’t Mean They Should.
Text size It’s worth doing the calculations to determine whether taking RMDs earlier may ease your tax bill. Dreamstime The Secure 2.0 Act gives savers 72 and under an extra year before you have to wi...
MYGAs and Fixed Index Annuities Are Popular. What to Consider.
Rising rates have made annuities of all stripes more interesting investments, but two in particular are worth a hard look right now. Multi-year guaranteed annuities—MYGAs, for short—are the insurance ...
How to Add Crypto to Your Retirement Account
Traditional retirement accounts are limited by regulations, require long commitments, and are not easy for everyone to access. The phenomenal returns realized by some cryptocurrency investors has capt...
The Rules of a 401(k) Retirement Plan
Since its inception in 1978, the 401(k) plan has grown to become the most popular type of employer-sponsored retirement plan in America. Millions of workers depend on the money they invest in these pl...
At This Size, Your Retirement Portfolio Is Too Big For Mutual Funds
getty You’ve learned why it’s important to avoid investment products once you enter your retirement. If you’re lucky, you can, and maybe you should, begin transitioning your investments to individual ...
5 Reasons Individual Stocks And Bonds Are Better Than Products
getty Before mutual funds became the de facto standard investment option in 401(k) plans, before 401(k) plans became the de facto standard retirement savings option, most people invested in individual...
Will Early Retirement Rot Your Brain?
retirement brain rot After years of scrimping and saving, investing wisely and working diligently your reward could be the luxury of an early retirement – and a big drop in your IQ. New research condu...
How Long Will $400k Last Me in Retirement?
SmartAsset: How Long Will $400k Last in Retirement Data from the Federal Reserve shows that the average savings in the United States at retirement age is just $255,200. So if you find yourself with $4...
The Absurdity of the ‘Predatory Lending’ Narrative Seen Through the Prism of Retirement
“He who understands it, earns it; he who doesn’t, pays for it.” The previous words are said to be those of Albert Einstein commenting on the genius of “compound interest,” but it’s difficult to find r...
We Are 70 Years Old, Have $99K in Retirement Income, a $1.4M IRA and Other Investments. Is It Too Late to Convert to a Roth?
Steven Jarvis, CPA My wife and I are 70 years old. We’ve paid off everything, including the house. Between my pension of $29,000 and Social Security, we’re getting a gross of $99,000 a yea...
Schwab Is Sending Out Settlement Checks. Here’s What to Know.
Clients of Charles Schwab ‘s robo-advisor have begun receiving distribution checks from a settlement the company reached with the Securities and Exchange Commission in summer 2022. Hundreds of thousa...
This simple, no-sweat portfolio makes money in all markets
Well now. This is interesting. Very interesting. And—potentially — very profitable. Especially if you want your savings to go to work and make you money in all environments—booms and slumps, crashes a...