savings
A SEP IRA offers distinct advantages if you’re self-employed
A 401(k) plan is a company-sponsored retirement account to which employees can contribute income, while employers may match contributions. But what if you are self-employed? Simplified Employee Pension Plans (SEP IRAs) help self-employed individuals and small-business owners get access to…
The secret weapon in your retirement savings arsenal
Do you have a health savings account? If so, you have a secret retirement plan. A health savings account is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical…
Strive for a balance between saving for retirement and living
We hear this all the time -Americans aren’t saving enough for retirement. All the recent reports state the average retirement savings is $141,252, with the median 401(k) balance being just $35,345. However, can you be striving too much to meet…
Changes may be coming to your 403(b)
If you have a 403(b), you may need to re-evaluate your retirement plans and how your plan beneficiaries will receive their funds. The IRS has treated 403(b) plans like individual retirement accounts (IRAs); however, that is about to change. Under…
Should you stop contributing to your retirement savings?
With inflation outpacing wage growth, yes, you can cut back on retirement savings, but realize you may need to push back your retirement date by doing so. Should you stop contributing altogether or lower your contributions? Mike Winters talked to…
Retirement Savings – Millennials are ahead of their parents
Who’d have thought it? There has been so much press in the last decade on how younger generations spend money in profligate ways, from the newest I-phones to streaming services to $20 avocado toast. But Nicole Goodkind of CNN Business…
More on Women and Social Security
As a follow-up to yesterday’s headline article about the retirement issues women face, we came across another a forbes.com article by contributor David Rae exploring the most significant worries women face when approaching that stage of their lives. Again, running out…
Jump-Starting Your Retirement Savings Plan
Quite a bit has been written about the inadequacy of savings across a wide spectrum of future retirees, and many times the culprit seems to be confusion on how to accomplish the process. The Motley Fool’s Christy Bieber, in a post…
The Market Downturn and Your Social Security Strategy
These are strange times, indeed. As 2020 dawned, who’d have seen us plummet into a bear market in a space of less than three weeks? For that matter, who would have thought we’d be self-quarantining ourselves and implementing something called “social…
The “Retirement Crisis”…More than Just Fixing Social Security
Anyone tuned into the news about America’s retirement system are keenly aware of Social Security’s solvency dilemma and the actions being debated in Congress to fix the problem. But according to Financial Regulation News’ Douglas Clark, the problem is broader than…