savings
Undermining the nation’s retirement readiness
Could a government-run retirement program to increase coverage do more harm than good to the nation’s retirement security? The Retirement Savings for Americans Act (RSAA) aims to expand retirement coverage for workers by creating a federal retirement plan for those…
A third of retirees are overspending
The 2024 study by the Employee Benefits Research Institute found that 31 percent of retirees were guilty of overspending in retirement. This figure is up from the first study conducted in 2020 which 17 percent of retirees said their spending…
Three key moves to make in 2025
Even though Social Security benefits only replace 33 percent to 55 percent of earnings for the average worker, Social Security is the largest source of income for most beneficiaries. Without Social Security benefits, about 4 in 10 adults 65 and…
How you can save more money in 2025
New year, new rules for retirement savers. In 2025, 401(k) savers can save $23,500, and those 60 to 63 can save an additional $11,250 for a total of $34,750. “This can be a great way for people to boost their…
Your tax bill could be much lower depending on where you retire
Most of us know the famous Ben Franklin quote about taxes; “Nothing can be said to be certain, except death and taxes.” However, times have changed when it comes to taxes. Retirees may or may not have to pay state…
Differences between Roth and traditional 401(k)s
We all know that Roth 401(k) and traditional 401(k) are great retirement savings accounts, but which is right for you? Your choice could mean the difference between higher taxes now or in retirement. Yes, contributions to these accounts and any…
Can I Count on Social Security Being There?
Younger folks especially wonder about Social Security being there for them when they retire. This article by David Crossman with Bedel Financial Consulting explains that it will be there. How it will look and the amount that is paid out…
Workers are tapping into their retirement accounts
A recent report by TransAmerica Center for Retirement Studies found that retirement savers are taking a loan from their 401(k), IRA, or other similar plans while still working. The report did say, “Seventeen percent have taken a loan and paid…
Don’t make these retirement planning mistakes
Planning for your retirement can be stressful and overwhelming, but you should not put it off. Although it may seem like light years away, retirement will come sooner than later. How do you ensure that your retirement is the one…
The sandwich generation
Are you part of the “sandwich generation?” The sandwich generation consists of workers supporting young relatives and aging parents. According to the U.S. Census Bureau, there are roughly five million intergenerational households in the United States. Jill Schlesinger reports on…