Retirement Services

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Category: Retirement Savings

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Categorized as 401(k) Mistakes, Financial Health, Retirement Savings

401(k) Hardship Withdrawals – What You Need to Know

February 20, 2023 A record number of Americans are taking hardship withdrawals and tapping into their 401(k)s.  According to Fidelity, “Participants taking hardship withdrawals from their accounts rose to 2.4% last year, up from 1.9% in 2021.”¹ This represents the highest share of hardship withdrawals recorded by the financial services firm.  Vanguard also recorded a… Continue reading 401(k) Hardship Withdrawals – What You Need to Know

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Categorized as Retirement Savings, Retirement Tips

12 College Financial Planning Tips for Parents

February 13, 2023 In Retirement Savings, Retirement Tips Paying for college is expensive, which is why college financial planning should really begin as soon as each child is born. But, let’s be honest. Sometimes life gets in the way, and, before you know it, college is right around the corner, and you haven’t done as… Continue reading 12 College Financial Planning Tips for Parents

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Categorized as Financial Health, Retirement Savings

What 401(k) Investors Need to Know: Market Update for Q1

What 401(k) Investors Need to Know: Market Update for Q1 January 23, 2023 In Financial Health, Retirement Savings Last year was a bumpy ride for the market, and many investors are rattled.  We’ve talked before about how the market goes up 80% of the time. But this also means it goes down 20% of the… Continue reading What 401(k) Investors Need to Know: Market Update for Q1

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Categorized as Retirement Savings, Retirement Tips

The Real Cost of Retirement: Are You Saving Enough?

January 16, 2023 In Retirement Savings, Retirement Tips Social Security benefits in 2023 will see the highest increase in 40 years, but will it be enough to cover the real cost of retirement? In 2023, there will be an 8.7% increase for COLA (Cost-of-Living Adjustment), up from the 5.9% adjustment in 2022.¹   This amounts to… Continue reading The Real Cost of Retirement: Are You Saving Enough?

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Categorized as Retirement Savings, Retirement Tips

SECURE Act 2.0: How It Affects Your Retirement Savings

January 9, 2023 In Retirement Savings, Retirement Tips The SECURE 2.0 Act, which was signed into law December 29, 2022, introduces major changes to the retirement system and how you save for retirement. The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 builds on the SECURE Act of 2019. Both aimed to help… Continue reading SECURE Act 2.0: How It Affects Your Retirement Savings