Saving for retirement is essential, and a 401(k) plan can be an effective way to have a comfortable retirement. Yet, according to a 2023 survey, 4 in 10 workers with a 401(k) don’t contribute.¹ If you are hesitant to set aside a bit or more of your paycheck for your retirement, consider these 5 perks… Continue reading 5 Perks of Saving for Retirement in a 401(k)
The Roth 401(k) is gaining in popularity due to employers offering it inside their plans and also thanks to provisions in the Secure Act 2.0 that only pertain to the Roth option. The question is, is it right for everyone? Read on to see if the Roth 401(k) is the right choice for you. How… Continue reading Should I Consider the Roth 401(k)?
There is a looming retirement crisis. It’s not a possibility. It’s about to be a reality for many Americans. According to a survey by Clever, “Two-thirds of retired Americans say the U.S. is in a retirement crisis (66%). The average retiree owes $15,393 in non-mortgage debt, and 40% worry they will outlive their retirement savings.”¹… Continue reading Over Half of Americans Think There’s a Retirement Crisis
Will your 401(k) savings last in retirement? It’s a question on the minds of a lot of 401(k) investors. Despite that, most people underestimate how much money they will need in retirement. Experts tend to recommend saving 80% of your pre-retirement income. If you and your spouse bring in $120,000 annual income, you should save… Continue reading How Long Will Your 401(k) Savings Last in Retirement?
There are few things more taboo than talking about money and death. But, if you are a parent approaching retirement, it is imperative to have the aging parent money talk with your adult children. Unfortunately, this doesn’t happen as often as it should. According to a Wells Fargo survey, only 38% of Americans with aging… Continue reading The Silent Crisis: Americans’ Reluctance to Discuss Aging Parents’ Finances
In an ideal marriage, both spouses want the best for each other. This includes a comfortable retirement. Unfortunately, there is one 401(k) mistake married couples make without even realizing they are doing it. It may seem small, but it can make a big impact on your retirement future. The mistake? Not communicating and clearly deciding… Continue reading The #1 401(k) Mistake Married Couples Make
Saving for retirement is critical, but many in their 20s and early 30s put it off. It’s easy to see why. It’s not cheap to build a new life, buy a home, or start a family. Add in inflation, the high cost of housing, and rising interest rates, and it is understandable why many in… Continue reading Saving for Retirement When You Are In Your 20s
June 19, 2023 In Uncategorized And just like that, we are halfway through 2023. If only there were a Q3 personal finance to-do list you could consult… Based on the title of this article, it’s easy to see you’ve come to the right place for Q3 personal finance tips. Now that we have reached the… Continue reading Q3 Personal Finance To-Do List
May 29, 2023 In Uncategorized Summer is expensive for parents, which is why it is the perfect time to teach kids about money. With kids out of school, parents have to either spend money on childcare, camps, or entertainment. It adds up. Fast. Pre-pandemic, families were already spending quite a bit during the summer months.… Continue reading 15 Fun Ways to Teach Kids about Money This Summer
May 8, 2023 Contrary to what most experts advise, there are times when it may not make sense to roll over your 401(k). We even advise most investors against leaving behind an old 401(k). However, there is an IRS rule that – if you qualify – may help you have more money and avoid penalties… Continue reading When It May Not Make Sense to Roll Over Your 401(k)
