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401k plans, IRAs, Roth accounts, pensions, annuities, Social Security, and withdrawal planning. Build the balance you need and make it last.
When you’re young, it feels like retirement is so far away. And there are competing priorities for your money, like vacations, saving for a house, or buying a new car. It’s no surprise the Federal Reserve found that only 37% of adults…
Saving for retirement isn’t always easy, but there are significant income tax benefits to low- and moderate-income families who choose to prioritize these long-term savings. The Retirement Savings Contributions Credit (otherwise known as the “Saver’s Credit”) is a tax credit designed to…
Study after study shows that Americans aren’t saving enough for retirement. News articles about this problem usually conclude by urging workers to step up their savings and set aside at least 10% of their income in their workplace 401(k) plan. But…
When it comes to retirement savings, there’s good news, bad news, and more bad news. The good news is that most Americans today have access to a workplace retirement plan, such as a 401(k). A 2018 study at Stanford University…
In late December 2019, President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). Many of the changes volleyed around Capitol Hill for years, and proponents tout them as the most comprehensive retirement…
If you work for a public school or nonprofit organization, you might have the option to participate in a 403(b) plan. What is this lesser-known retirement plan, and should you sign up? Before you make your decision, understand how a…
In order to contribute to an individual retirement account (IRA), you must have earned income, right? Although that’s true for most people, the IRS makes an exception for nonworking spouses. The government acknowledges that in some households, one spouse stays…
How long do you need to work to retire? Fifty years? Forty? According to Jacob Lund Fisker, you may be able to retire in just five years. One of the early popularizers of the modern FIRE movement (financial independence, retire…
Short for “financial independence, retire early,” the FIRE movement has spread like a blaze among many younger and middle-aged workers. These workers maintain a high savings rate, often through relatively frugal lifestyles, to build wealth quickly. With their savings, they…
Retirement has changed faster than most Americans realize. Your retirement will look very different from your parents’ and grandparents’ retirement. Defined benefit plans like pensions have been shrinking for decades, giving way to defined contribution plans like 401(k)s. These, in turn,…
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