Not all company 401k plans are created equally. Find out how your’s compares to others.
When you turn age 50, you become eligible to contribute more money to your 401(k) plan. The tax deduction you can claim on these catch-up contributions could save you over $1,000 on your annual tax…
Your age often dictates your retirement saving priorities. In your 20s and 30s, you need to get some money into a retirement account so that it can start growing on your behalf. Once you have…
Boost your balance. Used correctly, a 401(k) account allows you to take advantage of employer contributions, tax breaks and automatic saving. But you also need to take care to avoid excessive fees and penalties that…
Contributing more to tax-deferred accounts is a straightforward way to boost your wealth. It’s difficult to come up with the funds to increase your contributions up to the government allowable limit each year, but putting…
Many employers are tweaking their 401(k) investment options, typically reducing the number of funds available and adding low-cost index fund options. They’re also increasingly looking for ways to convince workers to save more and make…
While some millennials are content to play “Money Tree” on their iPhones, others play for keeps. With discipline, patience and knowledge of how the real-life game works, nearly any member of Generation Y can reach…
Investors will be able to contribute $500 more to a 401(k) or save in a myRA in 2015.
Maximize your retirement savings by avoiding these common pitfalls.
Between employer contributions and the ability to defer income tax on your own contributions, 401(k) plans often help you come out ahead in retirement saving. However, high fees, expensive investments, poor plan design and a lack of company contributions can sometimes diminish these benefits.
Stung by a recession that sapped investments and home values, but
expressing widespread job satisfaction, older Americans appear to have accepted
the reality of a retirement that comes later in life and no longer represents a
complete exit from the workforce. Some 82 percent of working Americans over 50 say
it is at least somewhat likely they will work for pay in retirement, according to
a poll released Monday by the Associated Press-NORC Center for Public Affairs
Financial planners always tout the benefits of 401K savings plans. But under some circumstances, savers might be better off putting their money elsewhere.
A 401(k) is meant to go untouched until a person
retires, but more than a quarter of Americans use
their retirement accounts to pay current
The economic recovery may be slow, but 401K
balances are at a 12-year high. The average
account balance has jumped to nearly $76,000.