If saving $23,000 in your 401(k) next year isn’t enough, don’t worry. There’s a way to double that amount or even more with the right strategy—and it’s completely legal. While the IRS sets a maximum for employees’ contributions, there are exceptions for people over 50, high earners, and the self-employed, allowing them to contribute more to their retirement funds.
Biden’s Plan to End Hidden Costs in Retirement Planning
President Biden aims to eliminate junk fees in retirement planning. These fees, which often catch people off guard, undermine the transparency and reliability of financial advice. By removing hidden costs, Biden hopes to create a more fair and efficient system for retirement planning.
Historic Mutual Funds Sale: Take Advantage of Stock-Market Turmoil
The recent stock-market turmoil has resulted in a historic sale in mutual funds. Closed-end funds are now available at their largest discounts to intrinsic value in years. Don’t miss this opportunity to invest wisely amidst market fluctuations.
New Series I Bond Offers a Hearty Fixed Rate for the Long Haul
With a new rate of 5.27%, the Series I Bond presents a great investment option for long-term financial growth. This bond ensures a stable fixed rate that can help secure your financial future.
Considering a Roth IRA Conversion in Retirement?
If you’ve been forced into retirement at 64 and have $1.3 million saved up, you may be wondering whether converting it to a Roth IRA is a wise decision. Assessing the potential benefits and drawbacks of converting your funds is essential when making such financial choices.
The High Costs of Caring for Aging Family Members
Caring for aging family members can take a toll—emotionally and financially. Understand the potential costs involved to better prepare and navigate this stage of life.
Enhancing 401(k) Balance Efficiency through Mandatory Withdrawals at 70½
Requiring workers to take retirement withdrawals at the age of 70½ could be a wise financial move. This strategy can help individuals utilize their 401(k) balance more effectively and ensure maximum benefit during retirement.
More Retirement News:
- 2 Magnificent Stocks to Build Wealth for Retirement
- Want to Retire at 62 With $1 Million? Here’s How Much to Save Each Month
Maximizing Your Retirement Portfolio with Top-Ranked Dividend Stocks
Research and Insight
Understanding the ever-changing rules about required withdrawals from retirement accounts is essential. We break down the confusing new rules in this section, providing you with valuable insights and information.
The Importance of Retirement Savings for Gen Xers
The Downside of Working Longer in Retirement
Retirement Planning Beyond Finances
Retirement is not just about money; it encompasses various aspects of life. In this section, we emphasize the significance of considering factors beyond finances when planning for retirement. From maintaining social connections to pursuing personal interests, there is much more to retirement than meets the eye.
Balancing Climate Fixes and Middle Class Retirement Plans
As the world faces increasing concerns about climate change, it’s essential to address how bold climate fixes could impact middle-class retirement plans. We delve into this topic and discuss potential solutions that can preserve retirement security while contributing to climate sustainability.
Sharing Advice with Family, Friends, and Clients
As you navigate the complexities of aging and retirement planning, it’s important to seek second opinions. Sometimes, a fresh perspective can make a significant difference. We encourage you to share this advice with your loved ones and clients to help them make informed decisions.
Overcoming Challenges in Inherited Trusts
Navigating Life After Achieving Goals
Trendy Housing Options for Retirees and Empty Nesters
Retirement opens up new possibilities, including exploring different housing options. This section highlights trendy housing choices that retirees and empty nesters can consider. From downsizing to active adult communities, there are plenty of exciting options available.