The bipartisan legislation recently signed by President Biden requires that all new retirement savings plans incorporate a savings autopilot
starting in 2025. This means that workers are automatically enrolled in their retirement plans unless they opt out, and their savings rates are
gradually escalated over time.
Inflation has been hitting everyone hard and going into 2023, there are several things you can be doing in order to protect the state of your
finances.
If you’re a decade or so away from retirement, you’ve probably spent at least some time thinking about this major life change.
Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program.
Legislation that could benefit people with individual retirement accounts (IRAs) and workplace retirement plans is currently moving through Congress.
Although most of us recognize the importance of sound retirement planning, few of us embrace the nitty-gritty work involved. With thousands of investment possibilities, complex rules governing retirement plans, and so on, most people don’t even know where to begin. Here are some suggestions to help you get started.
During your working years, you’ve probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert those savings into an ongoing income stream that will provide adequate income throughout your retirement years.
Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you have some investing experience or...
A portion of your benefits may be subject to income tax if your modified adjusted gross income (MAGI), plus one-half of your Social Security benefits, exceeds specific limits. Your MAGI equals: Adjusted gross income (or the adjusted gross income of you and your spouse...
Retirement savers have some reasons to celebrate in 2022. Many IRA and retirement plan limits are indexed for inflation each year. Although the amount you can contribute to IRAs remains the same in 2022, other key numbers will increase, including how much you can...