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Author: ahawks

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Categorized as Retirement Savings, Retirement Tips

Tax-Savvy Retirement: Mastering Your 401(k) Tax Implications

When it comes to investing for your financial future, understanding the tax consequences is important to growing wealth.  Because it’s not just what you make, it’s what you keep, that counts.  How tax savvy are you with regards to your 401(k)?  Are you aware of the 401(k) tax implications on withdrawals? Or the real benefit… Continue reading Tax-Savvy Retirement: Mastering Your 401(k) Tax Implications

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Categorized as Financial Health

Third Quarter Finance Tips to Turn Things Around

In mid-2024, Americans are still facing high inflation and high interest rates.  And they are saving less and spending less.  According to data from the Commerce Department, “The personal saving rate, the share of income that Americans are squirreling away, was 3.8% in January, well below the recent peak of 5.3% last May and the… Continue reading Third Quarter Finance Tips to Turn Things Around

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Categorized as Retirement Savings, Retirement Tips

Check Your Statements–There Are Record High 401(k) Savings in 2024

Fidelity Investments recently released a report on 2024 trends, and Q1 shows record high 401(k) savings in 2024. Read on to discover more about the current 401(k) savings rate, why rates have increased, and how you can save even more. Record High 401(k) Savings According to Fidelity’s Q1 2024 Retirement Analysis, “Total average 401(k) savings… Continue reading Check Your Statements–There Are Record High 401(k) Savings in 2024

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Categorized as Financial Health

Is Your 401(k) at Risk from Cyberattacks?

You’ve worked hard to build up your savings to ensure you have a comfortable retirement. What if cybercriminals stole from your 401(k)? Sadly, it’s happening, and experts are fearful it may happen more frequently with retirement accounts – with some even referring to the risk as “a sleeping giant.”¹ While most of the time it’s… Continue reading Is Your 401(k) at Risk from Cyberattacks?

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Categorized as Retirement Savings, Retirement Tips

6 Ways to Boost Your 401(k) Halfway Through the Year

Now that we’re halfway through the year, are you looking for ways to boost your 401(k) savings?  Many Americans are struggling to save like they used to, and their retirement accounts are taking a hit. According to recent data from the Commerce Department, “The personal saving rate, the share of income that Americans are squirreling… Continue reading 6 Ways to Boost Your 401(k) Halfway Through the Year

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Categorized as Financial Health

Budget-Friendly Summer Fun: 20 Free or Low-Cost Family Activities

It’s easy to see why people are searching for free or inexpensive things for families to do this summer – summer isn’t cheap! Mass Mutual reports, “Nearly half of Americans plan to travel this summer – a ten-point increase over last year – but an astounding 36% say they cannot afford to.”¹  As a result,… Continue reading Budget-Friendly Summer Fun: 20 Free or Low-Cost Family Activities

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Categorized as Retirement Savings, Retirement Tips

How to Become a 401(k) Millionaire

More Americans are entering the 401(k) millionaire club. In fact, 422,000 retirement savers are now labeled 401(k) millionaires¹.  It’s not a surprise we are seeing a rise in questions about how to become a 401(k) millionaire. If you’ve been wondering how to make it happen, you’ve come to the right place. Becoming a 401(k) millionaire… Continue reading How to Become a 401(k) Millionaire

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Categorized as Retirement Savings, Retirement Tips

Why Decreasing 401(k) Contributions Is a Bad Idea

A recent survey revealed that 24% of respondents are thinking about decreasing 401(k) contributions to free up more money.¹ We get it. Times are hard for some people right now. If you are stressed about your finances, you are not the only one.  Consider these findings from Empower’s 2024 Money Plans and Goals Survey:  70%… Continue reading Why Decreasing 401(k) Contributions Is a Bad Idea