#retirement-savings

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I moved from the US to Australia. My employer contributes over 11% to my retirement, and I don't pay property taxes.

Chelsey Nelson feels financially better off in Australia despite paying higher taxes.
#retirement-planning

What the new 401(k) limits and other changes mean for your retirement

In 2025, 401(k) contribution limits will rise, enabling individuals, especially those in their 60s, to save more for retirement.

The Most Common Mistakes I See Millionaire Retirees Making

Retirees with over $1 million must actively manage their portfolios to avoid costly financial mistakes.

What the new 401(k) limits and other changes mean for your retirement

In 2025, 401(k) contribution limits will rise, enabling individuals, especially those in their 60s, to save more for retirement.

The Most Common Mistakes I See Millionaire Retirees Making

Retirees with over $1 million must actively manage their portfolios to avoid costly financial mistakes.
moreretirement-planning
#financial-planning

If you don't have this much saved by 45, you are falling behind

Comparing retirement savings to averages helps understand personal progress, but individual goals and circumstances are crucial in planning for retirement.

A quarter of all working women are leaving free money on the table that could set back their retirement

A significant proportion of women are not saving for retirement, risking future financial instability.
Women face unique challenges in financial confidence and saving behaviors compared to men.

I'm a high earner who has always maxed out my 401k. I keep hearing about backdoor Roth IRA - what is it?

Maxing out a 401(k) may not be enough for high earners; exploring after-tax contributions and Roth strategies can lead to greater savings.

The typical baby boomer is facing at a $900k "hole" in their retirement savings

The cost of a comfortable retirement is increasing dramatically, affecting preparedness across generations.

If you're 40 years old, you should have at least this much saved

Retirement savings goals should be personalized, not based solely on averages, considering individual circumstances and market conditions.

If your household brings in $200k per year, this is how much you need saved for retirement by age 50

Many Americans are not saving adequately for retirement, with average savings at only $87,000.

If you don't have this much saved by 45, you are falling behind

Comparing retirement savings to averages helps understand personal progress, but individual goals and circumstances are crucial in planning for retirement.

A quarter of all working women are leaving free money on the table that could set back their retirement

A significant proportion of women are not saving for retirement, risking future financial instability.
Women face unique challenges in financial confidence and saving behaviors compared to men.

I'm a high earner who has always maxed out my 401k. I keep hearing about backdoor Roth IRA - what is it?

Maxing out a 401(k) may not be enough for high earners; exploring after-tax contributions and Roth strategies can lead to greater savings.

The typical baby boomer is facing at a $900k "hole" in their retirement savings

The cost of a comfortable retirement is increasing dramatically, affecting preparedness across generations.

If you're 40 years old, you should have at least this much saved

Retirement savings goals should be personalized, not based solely on averages, considering individual circumstances and market conditions.

If your household brings in $200k per year, this is how much you need saved for retirement by age 50

Many Americans are not saving adequately for retirement, with average savings at only $87,000.
morefinancial-planning

The childcare crisis may keep women from retiring

Women have about 30% less saved for retirement than men, largely due to the gender pay gap and motherhood penalty.

Tata Consultancy Services to deliver Irish pension scheme | Computer Weekly

TCS will manage Ireland's My Future Fund retirement scheme, automatically enrolling 800,000 individuals via its robust digital platform.
#401k-plans

Job-hopping could mean bigger salaries, but a $300K lifetime loss in retirement savings

Job-hopping can lead to significantly lower retirement savings, costing individuals over $300,000 by the end of their careers.

Countless Americans Are Making These Costly 401(k) Mistakes

Many Americans neglect to contribute to their 401(k), risking their retirement finances.
Early withdrawals from a 401(k) can lead to penalties and lack of retirement savings.
Not maximizing employer match leaves free money on the table.

Workers feeling more confident about meeting retirement goals: Charles Schwab

U.S. workers' confidence in meeting retirement savings goals has risen, with 43% feeling optimistic as inflation concerns eased.

The 3 Biggest Mistakes You Can Make With Your 401(k)

Americans are saving more for retirement, but challenges persist with median 401(k) balance low and concerns of outliving money.

Job-hopping could mean bigger salaries, but a $300K lifetime loss in retirement savings

Job-hopping can lead to significantly lower retirement savings, costing individuals over $300,000 by the end of their careers.

Countless Americans Are Making These Costly 401(k) Mistakes

Many Americans neglect to contribute to their 401(k), risking their retirement finances.
Early withdrawals from a 401(k) can lead to penalties and lack of retirement savings.
Not maximizing employer match leaves free money on the table.

Workers feeling more confident about meeting retirement goals: Charles Schwab

U.S. workers' confidence in meeting retirement savings goals has risen, with 43% feeling optimistic as inflation concerns eased.

The 3 Biggest Mistakes You Can Make With Your 401(k)

Americans are saving more for retirement, but challenges persist with median 401(k) balance low and concerns of outliving money.
more401k-plans
#pensions

Tax-free withdrawals from pension pots surge amid fears over autumn budget

Savers are withdrawing cash from pension pots due to fears of tax changes in the upcoming budget.

Automatically enrol young staff into workplace pension schemes, says IFS

Automatic enrollment into pensions for workers as young as 16 is necessary to ensure adequate retirement savings.

Tax-free withdrawals from pension pots surge amid fears over autumn budget

Savers are withdrawing cash from pension pots due to fears of tax changes in the upcoming budget.

Automatically enrol young staff into workplace pension schemes, says IFS

Automatic enrollment into pensions for workers as young as 16 is necessary to ensure adequate retirement savings.
morepensions
#social-security
from 24/7 Wall St.
2 weeks ago
Business

A Market Crash Could Ruin Baby Boomers: 5 Safe High-Yield Dividend Stocks and Advice

2025 Social Security COLA is only 2.5%, highlighting financial strain for retirees.
Market veterans caution Baby Boomers against stock market reliance, citing past crashes.

57% of millennials plan on leaving retirement savings behind for others - how does that compare to other generations?

Younger generations are more inclined to leave behind retirement savings for family or charitable causes compared to older generations.

A boomer lives on $1,768 monthly Social Security and says she's a few hundred dollars away from losing access to necessities

Financial constraints are leading to social isolation among older adults, particularly those without adequate retirement savings.

Here's What to Know About Social Security If You're Thinking of Retiring Overseas

More Americans retiring abroad due to rising healthcare costs and living expenses in the US.

A Market Crash Could Ruin Baby Boomers: 5 Safe High-Yield Dividend Stocks and Advice

2025 Social Security COLA is only 2.5%, highlighting financial strain for retirees.
Market veterans caution Baby Boomers against stock market reliance, citing past crashes.

57% of millennials plan on leaving retirement savings behind for others - how does that compare to other generations?

Younger generations are more inclined to leave behind retirement savings for family or charitable causes compared to older generations.

A boomer lives on $1,768 monthly Social Security and says she's a few hundred dollars away from losing access to necessities

Financial constraints are leading to social isolation among older adults, particularly those without adequate retirement savings.

Here's What to Know About Social Security If You're Thinking of Retiring Overseas

More Americans retiring abroad due to rising healthcare costs and living expenses in the US.
moresocial-security
#financial-security

Job Hopping Could Cost You $300,000 in Retirement Savings: Study | Entrepreneur

Changing jobs frequently can significantly reduce retirement savings, affecting long-term financial security.

Tread Lightly Before Discussing This Topic With Your Older Parents

Americans are working longer due to longer life spans and inadequate retirement savings.
Workforce is aging, with people over 60 becoming twice as common since 1984.

Job Hopping Could Cost You $300,000 in Retirement Savings: Study | Entrepreneur

Changing jobs frequently can significantly reduce retirement savings, affecting long-term financial security.

Tread Lightly Before Discussing This Topic With Your Older Parents

Americans are working longer due to longer life spans and inadequate retirement savings.
Workforce is aging, with people over 60 becoming twice as common since 1984.
morefinancial-security
#investment-strategies

Is It Too Early to Get Your Minor Children Saving for Retirement?

Starting retirement savings for children early leverages compound interest for significant future wealth.

How to Realistically Save for Retirement

Using automation tools for regular transfers simplifies retirement savings.
Focus on saving a good chunk of your salary (10%-20%) for retirement by investing in a diversified portfolio.

Is It Too Early to Get Your Minor Children Saving for Retirement?

Starting retirement savings for children early leverages compound interest for significant future wealth.

How to Realistically Save for Retirement

Using automation tools for regular transfers simplifies retirement savings.
Focus on saving a good chunk of your salary (10%-20%) for retirement by investing in a diversified portfolio.
moreinvestment-strategies

Private equity firms ploughing billions into fossil fuels, analysis reveals

Private equity firms are using public pension funds to invest in fossil fuels, significantly impacting climate change.

Nearly 800,000 American Baby Boomers Have Retired to This Affordable Country

Over five million Americans live overseas, often to stretch retirement savings further due to lower costs.
#financial-advice

Warren Buffett's Powerful Message to Any American Who Hopes to Retire One Day

Start saving for retirement early and consistently, as it is crucial for a comfortable financial future.

Opinion | Higher Taxes Are on the Horizon. Don't Let Them Spoil Your Retirement.

Roth I.R.A.s may protect from future tax increases, crucial in light of rising federal budget deficits and potential tax reforms.

Warren Buffett's Powerful Message to Any American Who Hopes to Retire One Day

Start saving for retirement early and consistently, as it is crucial for a comfortable financial future.

Opinion | Higher Taxes Are on the Horizon. Don't Let Them Spoil Your Retirement.

Roth I.R.A.s may protect from future tax increases, crucial in light of rising federal budget deficits and potential tax reforms.
morefinancial-advice

Lawyers for alleged gold-scam victims seek involuntary bankruptcy for California firm

Plaintiffs are pushing for Oxford Gold Group to enter Chapter 7 bankruptcy to recover over $6 million in lost retirement savings.
#wealth-growth

A Gen Xer who grew her savings from $50k to $350k in 10 years shares the FIRE methods she's using to get to $1 million

Miriam aims to achieve $1 million in savings and retire by age 55 through dedication to saving and investing.

The second quarter saw over 34,000 people become millionaires

34,000 new millionaires were created in Q2 2024 as retirement savers took advantage of favorable market conditions.

A Gen Xer who grew her savings from $50k to $350k in 10 years shares the FIRE methods she's using to get to $1 million

Miriam aims to achieve $1 million in savings and retire by age 55 through dedication to saving and investing.

The second quarter saw over 34,000 people become millionaires

34,000 new millionaires were created in Q2 2024 as retirement savers took advantage of favorable market conditions.
morewealth-growth

The promised fix to America's retirement crisis might not be much of a solution after all

Recent research shows auto-enrollment and auto-escalation in retirement savings plans are less effective than previously thought.
#financial-growth

Number of Retirement Millionaires Hits Record High | Entrepreneur

401(k) millionaires have reached a record high of 497,000, reflecting a growth trend in retirement savings.

Gen X makes progress with retirement savings: Fidelity

Gen X savers are showing significant growth in retirement savings, overcoming previous struggles with IRA contributions.
Fidelity reports a continuous increase in both 401(k) and IRA contributions, highlighting progress across various age groups.

Number of Retirement Millionaires Hits Record High | Entrepreneur

401(k) millionaires have reached a record high of 497,000, reflecting a growth trend in retirement savings.

Gen X makes progress with retirement savings: Fidelity

Gen X savers are showing significant growth in retirement savings, overcoming previous struggles with IRA contributions.
Fidelity reports a continuous increase in both 401(k) and IRA contributions, highlighting progress across various age groups.
morefinancial-growth

Lacking confidence in your financial decisions? Where to find help

Financial confidence among Americans remains low, particularly among younger and lower-income populations, emphasizing the need for better access to reliable information.

What's at stake in Switzerland's federal referendums on September 22nd?

Voting on the Biodiversity Initiative and Pension Reform will occur on September 22, 2024.

A boomer got $182,000 in student loans forgiven - plus a $1,800 refund. He can finally save for retirement and enjoy a spa day with his wife.

Larry's student-loan forgiveness enables him to save for retirement and secure health insurance after years of financial struggle.

How Deepfake Elon Musk' Became the Internet's Biggest Scammer

A.I.-driven deepfake scams have become a major risk, as illustrated by the case of an 82-year-old retiree losing $690,000.

A peak boomer fears she can't retire with $2,000 Social Security payments - and may have to move in with her sons

Many peak boomers like Becky Davenport face financial insecurity and struggle to save for retirement due to high living costs and medical expenses.

More senior households are carrying high levels of debt: EBRI

More older Americans approaching retirement carry higher debt levels, impacting retirement readiness.

Kamala Harris is an honorary member of Gen X. Here's how her finances compare to others of that generation

Vice President Kamala Harris represents a generational shift in politics from Baby Boomers to Gen X.
Gen X faces financial challenges due to the shift from pensions to defined contribution plans like 401(k)s and IRAs.

How One Man Lost $740,000 to Scammers Targeting His Retirement Savings

Sophisticated scams target retirees' savings with elaborate schemes, leaving victims with slim chances of recovery.

Financial Independence: How to Save and Pay Less to Uncle Sam - San Francisco Bay Times

Maximize tax-saving opportunities for retirement savings.

29 Nordstrom Items I Chose Over My 401(K)-Sorry, Dad

Allocating a percentage of every paycheck toward retirement is essential
Spending temptations can occasionally derail retirement savings goals from Nordstrom items

Many Older Immigrants in New York Are Struggling: I Have No Future'

Many older immigrants in New York City are living in poverty and struggling to make ends meet.
The number of older immigrants in New York City has been increasing at a faster rate compared to U.S.-born seniors since 2010.

Facing Financial Ruin as Costs Soar for Elder Care

The escalating costs of in-home care, assisted-living facilities, and nursing homes are devouring the savings and incomes of older Americans and their relatives.
Millions of families are facing the daunting decision between caring for their loved ones at home or placing them in a nursing home.
The population of Americans aged 65 and older is projected to increase by more than 50 percent by 2050.
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