Remember 2019? It was in December of that year — which seems now like quite a while ago — the SECURE Act was signed into law. The Setting Every Community Up for Retirement Enhancement Act was designed to make it easier for people to save for retirement and makes retirement plans more accessible to more […]
Generalizations about money and retirement linger. Some cliches have been around for decades, while others have recently joined their ranks. Let’s examine a few: When I’m retired, I won’t really have to invest anymore. Society still sees retirement as an end instead of a beginning — a finish line for a career. For some, though, […]
What do your retirement plan participants wish you’d offer? Besides the chance to save and invest part of their paychecks, that is. The answer could be a little more help. Charles Schwab surveyed workers contributing to 401(k) plans, and 46 percent wanted help calculating how much they needed to save for retirement. Another 43 percent […]
If you had a timeline of the financial steps you should take in life, what would it look like? Answers to that question vary, but certain times of life call for certain financial moves. Some should be made out of caution, others out of opportunity. n What should do in your 20s? Start saving for […]
Traditional and Roth 401(k) plans both offer tax-advantaged ways to save for retirement. Which works best for you depends on your unique circumstances. Many employees now have — or soon could have — a new retirement planning option to consider: the Roth 401(k), which permits participants to save for retirement on an after-tax basis. In […]
There are many reasons we defer our dreams of financial independence. Here are five of the most common psychological barriers and how to overcome them: I can’t afford it. Sure, you have lots of competing uses for your money. Some types of spending are locked in each month — paying your mortgage, for example. And […]
There’s something powerful and serene about watching hot air balloons rise in the morning stillness, their burners propelling colorful shapes into the atmosphere. Retirement is a lot like untethered flight — life’s possibilities are limited only by your imagination and where the wind takes you. At one time, you could count on lifts from a […]
For many, football season means bundling up, tailgate parties and gathering around the TV with friends and family for exciting action. It’s also a good time to pencil out some goals and a game plan for retirement. Here’s a five-step playbook to consider in planning for retirement: Protect the quarterback: The most important player on […]
You might have read or heard that you need to replace about 80 percent of your preretirement income to maintain your standard of living in retirement. Although some research validates this guideline, consider that half of today’s retirees say their spending is higher or about the same as it was when they were working. The […]