savings
Women want a secure retirement
In a recent report published by the National Institute on Retirement Security (NIRS), more than three-quarters of women surveyed said the typical American worker doesn’t earn enough to save for a secure retirement. The survey also concluded that women want…
Needed changes to 401K plans
Since their arrival 40 years ago in the retirement industry, the 401(k) has become the leader in nudging out corporate pension plans and IRAs. But they are not perfect. So, the federal government has begun implementing laws aimed at workers…
Will Medicare Part B premiums wipe out COLA
After the government released the inflation rate for April, Social Security analysts began to estimate the cost-of-living-adjustment (COLA) for 2025. As you may know, the Social Security Administration bases its COLA each year on average annual increases in CPI-W from…
Should you stay or should you go?
Should you stay or should you go? Many financial experts advise their clients to consider converting their 401(k) to a Roth IRA to lower taxes in retirement, but should you? Will the benefits of lower taxes outweigh other benefits if…
Counting on Social Security
The 2024 Social Security Trustee report found if Congress does not act, the combined trust fund reserves will be depleted by 2035. At that time, the income coming into the program will only be able to pay 83 percent of the…
Baby Boomers lack of retirement savings
Baby boomers have changed the face of the U.S. population for more than 70 years and continue to do so as more enter their senior years. According to a recent study, over half of boomers have little saved for retirement…
Ask yourself these three questions
Social Security is the largest source of income for most beneficiaries, replacing only 33 to 55 percent of earnings for the average worker. So, it is essential to make the most of your benefits. Katie Brockman suggests you ask yourself…
Is the 4% rule even relevant today?
In 1994, William Bengen introduced the idea of the 4% rule as a common rule of thumb in retirement planning to help you avoid running out of money in retirement. But times have changed, and so have retirement plans. However,…
2025 contribution limits for HSAs
The IRS has announced the 2025 contribution limits for Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), and High Deductible Health Plans (HDHP). The inflation-adjusted annual limit amounts for 2025 are smaller if you compare them to the largest-ever increase…
Retirement benefits of a HSA
Health Savings Accounts (HSAs) were established as part of the Medicare Prescription Drug, Improvement, and Modernization Act, signed into law by President George W. Bush on December 8, 2003, effective January 1, 2004. In the twenty years since the creation…