#retirement-savings

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#debt-management

5 Milestones You Should Hit by Age 40 If You Want to Retire Wealthy

Establish a financial plan and emergency fund before turning 40.
Max out retirement contributions early to ensure financial independence.
Pay off high-interest debt to increase retirement savings.

Dave Ramsey says to never do it but I'm liquidating my 401(k) and pay off my debts

It's inadvisable to cash out 401(k) accounts for debt repayment; long-term savings must be prioritized over short-term financial relief.

Suze Orman says this is the one expense you must cut in retirement

Retirement for many Americans relies heavily on Social Security, which proves challenging during economic instability.

These are Baby Boomers Top Financial Priorities

Baby Boomers prioritize retirement savings, debt repayment, and building emergency savings as they approach retirement.

5 Milestones You Should Hit by Age 40 If You Want to Retire Wealthy

Establish a financial plan and emergency fund before turning 40.
Max out retirement contributions early to ensure financial independence.
Pay off high-interest debt to increase retirement savings.

Dave Ramsey says to never do it but I'm liquidating my 401(k) and pay off my debts

It's inadvisable to cash out 401(k) accounts for debt repayment; long-term savings must be prioritized over short-term financial relief.

Suze Orman says this is the one expense you must cut in retirement

Retirement for many Americans relies heavily on Social Security, which proves challenging during economic instability.

These are Baby Boomers Top Financial Priorities

Baby Boomers prioritize retirement savings, debt repayment, and building emergency savings as they approach retirement.
moredebt-management
#financial-planning

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.

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.

This 401(k) Super Funding Limit Goes into Effect in the New Year

Increasing 401(k) contributions is essential for retirement savings, especially for those aged 50 and older.

The Biggest Questions to Ask Yourself Before You Put a Dime Into a 401(k)

Understanding your 401(k) options is essential for maximizing retirement savings.
Employer matching contributions can significantly boost your retirement funds.

Suze Orman explains why this common mistake can cost you up to $700,000 in retirement

Focus on your needs over wants to improve financial health in retirement.

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.

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.

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.

This 401(k) Super Funding Limit Goes into Effect in the New Year

Increasing 401(k) contributions is essential for retirement savings, especially for those aged 50 and older.

The Biggest Questions to Ask Yourself Before You Put a Dime Into a 401(k)

Understanding your 401(k) options is essential for maximizing retirement savings.
Employer matching contributions can significantly boost your retirement funds.

Suze Orman explains why this common mistake can cost you up to $700,000 in retirement

Focus on your needs over wants to improve financial health in retirement.

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
#personal-finance

Money expert Clark Howard says this brilliant retirement strategy is like hitting "the easy button"

Target-date funds simplify retirement investing by automatically adjusting asset allocation over time based on a specified retirement date.

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.

I'm approaching $100k in my 401(k) - should I decrease my contributions going forward?

Maximizing retirement savings is crucial and should not be sacrificed for home purchases.

Over 40? This Is How Much You Should Have in the Bank

Retirement savings should match personal lifestyle and salary, not just aim for averages or benchmarks.

Money expert Clark Howard says this brilliant retirement strategy is like hitting "the easy button"

Target-date funds simplify retirement investing by automatically adjusting asset allocation over time based on a specified retirement date.

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.

I'm approaching $100k in my 401(k) - should I decrease my contributions going forward?

Maximizing retirement savings is crucial and should not be sacrificed for home purchases.

Over 40? This Is How Much You Should Have in the Bank

Retirement savings should match personal lifestyle and salary, not just aim for averages or benchmarks.
morepersonal-finance
#budgeting

If your family brings in $100k per year, this is how much you need saved for retirement by age 40

Inflation has significantly impacted Americans' ability to save, resulting in high credit card debt and hindered retirement savings.

The Most-Searched Senior Discounts in America

Senior discounts are essential for budget-conscious retirees, offering savings on various products and services.

If your family brings in $100k per year, this is how much you need saved for retirement by age 40

Inflation has significantly impacted Americans' ability to save, resulting in high credit card debt and hindered retirement savings.

The Most-Searched Senior Discounts in America

Senior discounts are essential for budget-conscious retirees, offering savings on various products and services.
morebudgeting
#pensions

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.

Why States Are Offering Workers at Private Companies Access to I.R.A.s

States are implementing auto-I.R.A.s to help address the retirement savings gap for private-sector employees.

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.

The impact of Labour's National Insurance hike on pension pots - London Business News | Londonlovesbusiness.com

The 1.2% increase in employer NI contributions could lead to lower salary increases and pension contributions for employees.

Most people who are due to be signed up for new pension scheme unaware of it

The upcoming My Future Fund scheme indicates a shift in Ireland's pension structure to enhance retirement savings awareness and accessibility.

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.

Why States Are Offering Workers at Private Companies Access to I.R.A.s

States are implementing auto-I.R.A.s to help address the retirement savings gap for private-sector employees.

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.

The impact of Labour's National Insurance hike on pension pots - London Business News | Londonlovesbusiness.com

The 1.2% increase in employer NI contributions could lead to lower salary increases and pension contributions for employees.

Most people who are due to be signed up for new pension scheme unaware of it

The upcoming My Future Fund scheme indicates a shift in Ireland's pension structure to enhance retirement savings awareness and accessibility.
morepensions
#401k

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.

Gen X just saw a big bump in 401(k) millionaires

Record highs in Wall Street boost 401(k) millionaire accounts by 9.5%, benefiting mainly Generation X.

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.

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.

I just discovered errors in my 401(k) due to HR mistakes - is this common?

Regularly reviewing financial accounts can uncover significant errors and save money for employees.
Diligent oversight of retirement accounts is crucial, as errors may impact all employees.

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.

Gen X just saw a big bump in 401(k) millionaires

Record highs in Wall Street boost 401(k) millionaire accounts by 9.5%, benefiting mainly Generation X.

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.

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.

I just discovered errors in my 401(k) due to HR mistakes - is this common?

Regularly reviewing financial accounts can uncover significant errors and save money for employees.
Diligent oversight of retirement accounts is crucial, as errors may impact all employees.
more401k

The more I study the economy, the more I fear 401(k)s are doomed - am I overreacting?

Many people question the viability of saving for retirement amidst rising inflation and financial inequity.
#gen-x

Gen Xers are stumbling in saving for retirement as they face caring for both kids and parents

Caring for both children and parents significantly impacts Gen X's 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.

Gen Xers are stumbling in saving for retirement as they face caring for both kids and parents

Caring for both children and parents significantly impacts Gen X's 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.
moregen-x

I'm 35 with a $775k in my 401k - I should keep contributing to the 401k or put extra money in a brokerage account?

Consider diversifying retirement funds for flexibility rather than only focusing on 401(k) contributions, especially if your employer doesn't match.
Maximizing employer matching in a 401(k) is essential for a substantial retirement boost.

These Are The Most Important Withdrawal Rules For Your 401(K)

New SECURE 2.0 guidelines change withdrawal rules for 401-K plans, notably eliminating RMDs for Roth accounts and creating new hardship exceptions.
#baby-boomers

The Silent Retirement Killer Draining Baby Boomer Savings

Rising housing costs are significantly impacting baby boomers' retirement savings and financial stability, leading to potential downsizing or re-entering the workforce.

5 biggest financial regrets and lessons from baby boomers

Baby boomers regret not saving more for retirement, making it crucial for younger generations to learn from their financial experiences.

The Silent Retirement Killer Draining Baby Boomer Savings

Rising housing costs are significantly impacting baby boomers' retirement savings and financial stability, leading to potential downsizing or re-entering the workforce.

5 biggest financial regrets and lessons from baby boomers

Baby boomers regret not saving more for retirement, making it crucial for younger generations to learn from their financial experiences.
morebaby-boomers
#tax-planning

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.

Jill On Money: Year end money moves 2024

Plan year-end finances early by maximizing tax-saving opportunities.
Adjust your tax withholding and retirement contributions to optimize savings.

Tax tips for HENRYs: 5 end of year moves if you are High Earner Not Yet Rich

HENRYs struggle financially despite high incomes, due to costs of living, rising expenses, and a heavy tax burden.

Shape Up Your Personal Finances for a Fantastic Year-End - San Francisco Bay Times

Conduct early tax planning to avoid future surprises and maximize deductions.
Ensure retirement accounts are on track with maximum contributions and necessary distributions.
Align investment strategies with personal financial goals and adjust as needed.

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.

Jill On Money: Year end money moves 2024

Plan year-end finances early by maximizing tax-saving opportunities.
Adjust your tax withholding and retirement contributions to optimize savings.

Tax tips for HENRYs: 5 end of year moves if you are High Earner Not Yet Rich

HENRYs struggle financially despite high incomes, due to costs of living, rising expenses, and a heavy tax burden.

Shape Up Your Personal Finances for a Fantastic Year-End - San Francisco Bay Times

Conduct early tax planning to avoid future surprises and maximize deductions.
Ensure retirement accounts are on track with maximum contributions and necessary distributions.
Align investment strategies with personal financial goals and adjust as needed.
moretax-planning
#financial-security

The typical millennial is staring directly at a $1.5 million "shortfall" in their retirement goals

Millennials face a significant retirement savings gap, with average savings far below their targets.

What should I do about a previous pension that's getting sold to another company?

Pensions, once viewed as secure, now face risks due to company bankruptcies, emphasizing the need for informed retirement planning.

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.

If your household brings in $200k per year, this is how much you need saved to retire at 65

Most Americans lack sufficient retirement savings, with median savings at only $87,000 and many having none at all.

The typical millennial is staring directly at a $1.5 million "shortfall" in their retirement goals

Millennials face a significant retirement savings gap, with average savings far below their targets.

What should I do about a previous pension that's getting sold to another company?

Pensions, once viewed as secure, now face risks due to company bankruptcies, emphasizing the need for informed retirement planning.

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.

If your household brings in $200k per year, this is how much you need saved to retire at 65

Most Americans lack sufficient retirement savings, with median savings at only $87,000 and many having none at all.
morefinancial-security

An investor says he put 98% of his retirement funds in Trump Media stock and won't bail because Trump has a 'secret' plan

Investors are heavily betting on Trump Media despite its volatility, showcasing faith in its potential recovery despite significant financial losses.

How do farmers retire?

Farmers are more likely to maintain retirement accounts but save less than the general population.

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.

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

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.

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.

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.
more401k-plans
#social-security

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.

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.

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.
moresocial-security

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.

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.

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.

The Most Common Mistakes I See Millionaire Retirees Making

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

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.

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.

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.
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