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Category: Retirement Tips

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Categorized as 401(k) Mistakes, Retirement Savings, Retirement Tips

Do You Know What’s in Your 401(k)? If Not, You Should

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

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Categorized as Retirement Savings, Retirement Tips

Retirement Plan Contribution Limits for 2024

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

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Categorized as Retirement Savings, Retirement Tips

Answers to the 10 Most Common 401(k) Questions

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

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Categorized as Retirement Savings, Retirement Tips

IRS Announces 2-Year Delay to 401(k) Catch-Up Contribution Changes

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

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Categorized as Retirement Savings, Retirement Tips

Balancing Debt and Retirement Savings in 2023

With today’s economic landscape characterized by persistent inflation and rising interest rates, it’s no surprise that American households are feeling financial pressure.  This has many Americans grappling with crucial financial questions:  Should I pull back on my retirement savings contributions?  Should I focus on paying off debt instead of saving for retirement?  How do I… Continue reading Balancing Debt and Retirement Savings in 2023

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Categorized as Retirement Savings, Retirement Tips

Big Catch-Up Contribution Changes Coming in 2024

Starting in 2024, new rule changes to 401(k) catch-up contributions go into effect for investors ages 50 and over.  These changes impact not only where you can save more, but also if you’re even able to.  Some might argue this new law is essentially a tax increase. And that hurts investors who are closer to… Continue reading Big Catch-Up Contribution Changes Coming in 2024

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Categorized as Retirement Savings, Retirement Tips

Are Target Date Funds the Best for Your Retirement Goals?

Everyone seems to have an opinion about target date funds.  On one side, they make 401(k) investing easy.  On the other, there can be a significant difference in performance over time from target date funds versus other plan options.   In this article, we’re breaking down everything you need to know about target date funds so… Continue reading Are Target Date Funds the Best for Your Retirement Goals?

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Categorized as Financial Health, Retirement Savings, Retirement Tips

IRS Delays Certain RMD Rules: What You Need to Know

The Secure Act 2.0 brought about numerous changes to how we save for retirement, including when investors need to start taking required minimum distributions (RMDs). However, the IRS is making RMD changes yet again – this time delaying certain rules in order to provide a smoother transition not only for plan administrators, but also for… Continue reading IRS Delays Certain RMD Rules: What You Need to Know

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Categorized as Retirement Savings, Retirement Tips

Reclaiming Your Retirement: Catch Up on Retirement Savings after 40

June 26, 2023 In Retirement Savings, Retirement Tips If you’re over 40 and worried about your retirement savings, take a deep breath. You’re not alone, and it’s never too late to turn things around. In this article, we’re exploring 10 actionable strategies to help you catch up on retirement savings after 40. #1 Assess Your… Continue reading Reclaiming Your Retirement: Catch Up on Retirement Savings after 40

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Categorized as Financial Health, Retirement Savings, Retirement Tips

How RMD Changes Protect Your Retirement Savings

May 15, 2023 The original SECURE Act of 2019 extended the Required Minimum Distribution (RMDs) age from 70½ to 72 for retirement accounts. Now with the passing of the Omnibus Bill, SECURE Act 2.0 extends the RMD beginning date to age 73, starting in 2023. Not only does the new legislation push back the required… Continue reading How RMD Changes Protect Your Retirement Savings