For those who wonder, “How much should I contribute to my 401(k)?” you’ve come to the right place. As much as we’d like to be able to tell you an exact amount to contribute, we can’t. It varies from one person to another, depending on how much you’ve already saved, how much you need to… Continue reading How Much Should I Contribute to My 401(k)?
Many companies offer the option to contribute to a 401(k), and the company will match a portion of those contributions. However, many investors leave this “free money” on the table by not contributing enough to receive the full 401(k) company match. If your employer offers a 401(k) company match, 2024 is the year to take… Continue reading 3 Reasons to Get the 401(k) Company Match in 2024
The Secure Act 2.0 is bringing numerous changes to your 401(k) in 2024. The 2022 legislation had over 90 provisions in it that encourage more people to save for retirement and to help grow their retirement savings. This year we saw many of these provisions take effect. And there are more changes rolling out in… Continue reading 5 Major Changes Coming to Your 401(k) in 2024
Contrary to popular belief, there is more to maximizing your 401(k) savings than simply contributing more. There are things you can do that don’t require you to spend a single penny. If you want to maximize 401(k) savings in 2024, the time to plan is now. Keep reading for 7 things you can do that… Continue reading 7 Things to Help Maximize 401(k) Savings in 2024
A recent CNBC Your Money Survey reveals 46% of 401(k) investors are unaware of the specific investments in their workplace retirement plan.¹ Considering 401(k)s are most people’s largest asset, this is troubling. However, advisors cited in the article argue that this lack of knowledge may not necessarily be a cause for concern. Their reasoning? Many… Continue reading Do You Know What’s in Your 401(k)? If Not, You Should
The IRS just announced contribution limits for qualified retirement plans for 2024. Keep reading below to find out exactly how much you can contribute for 2024, and start making plans now to do what you can to max out your retirement savings next year. 401(k) Retirement Plan Contribution Limits for 2024 401(k)s Employees with 401(k)s,… Continue reading Retirement Plan Contribution Limits for 2024
A major factor in achieving your financial goals is being engaged with your finances and investments. This includes your 401(k). According to CNBC, though 401(k)s are the “most common retirement savings vehicles, 63 percent of Americans don’t understand exactly how it works.”¹ Additionally, when people in the survey were asked common 401(k) investor questions, only… Continue reading Answers to the 10 Most Common 401(k) Questions
It’s common financial advice – save enough in your 401(k) to get the company match. It’s great advice (after all, who doesn’t want free money?), but it may not be yours to keep should you change jobs or withdraw from your 401(k). This is because each employer match follows its own vesting schedule. And, if… Continue reading Don’t Lose Your Match: The Danger of Ignoring Your 401(k) Vesting Schedule
While data shows more people are saving for the future, others are putting their financial futures at risk by taking 401(k) hardship withdrawals. 401(k) hardship withdrawals should be a last resort, but people are playing fast and loose with their retirement savings, as shown by recent reports from Vanguard, Bank of America, and Fidelity. According… Continue reading The Real Impact of 401(k) Hardship Withdrawals
The IRS recently announced a 2-year delay to the planned changes in catch-up contributions in 401(k)s and Thrift Savings Plans. The new rule requiring high-income investors to make catch-up contributions only to Roth 401(k) accounts will not take effect until 2026. This update comes as a relief to many who were concerned they might not… Continue reading IRS Announces 2-Year Delay to 401(k) Catch-Up Contribution Changes
