The Future of Graduation Gifts: Turning Student Cash into Retirement Gold
Invest your graduation gift money into retirement savings. Start early, grow your wealth with the power of compound interest, and secure your financial future.
savings
Retirement Savings at Risk: Avoid this Common Pension Mistake in Divorce
Houston, TX – Divorce can often have far-reaching financial consequences, and a mistake in handling pensions during divorce proceedings could significantly impact an individual’s retirement savings. The mishandling of pension division can potentially lead to a much poorer retirement, leaving individuals without the necessary financial security in their later years. When couples divorce, assets such as pensions must be divided fairly and in accordance with the law. Failure to do so could result in one …
Here Are The Potential Consequences Of The Debt Ceiling Standoff For Your Retirement Plans
A meeting between President Biden and congressional leaders is scheduled to discuss the debt ceiling at a critical time when the country may be unable to meet its obligations. Economists and administration officials have warned that a potential default on the national debt, a first in U.S. history, could result in a financial disaster. This would severely affect the domestic economy and cause turbulence in global markets.
Retirement Planning: Why You Should Start in Your 20s
The median monthly Social Security benefit is $1,827, which likely is far from your current monthly income.
Investors Advised not to Panic Amid Market Volatility: Expert Perspective on Retirement Savings
The recent market volatility following the release of hot inflation data has caused concern among investors about how to handle their retirement savings. Many individuals rely on automatic contributions to their 401(k)s and IRAs, which raises questions about whether to make any changes in light of the shaky market conditions. Kerry Hannon, a financial expert at Yahoo Finance, emphasizes the importance of not panicking in response to market fluctuations. She provides valuable perspective on how …
Retirement Eligible: College Savings Funds Now Flexible for Future Use
NEW YORK (AP) — Families looking to save for their children’s college education now have a new option — using those funds for retirement instead. As of February 16, a provision in the federal budget law allows individuals to roll over funds from a 529 college savings account into a Roth individual retirement account, or Roth IRA. This means that after-tax money contributed to a 529 account can grow and be withdrawn tax-free for retirement. …
Jealousy and Financial Folly: Removing the Barriers to Personal Savings
RALEIGH, North Carolina – The debate on personal responsibility for saving and the challenges that come with it was the focal point of a recent conference at North Carolina State University. Experts gathered to discuss the financial storms and the obstacles to saving at the event sponsored by the Institute for Emerging Issues. The event included a question from a participant pondering when individuals should be held accountable for saving for themselves. The question sparked …
Retirement Savings Survey Reveals Widespread Financial Planning Concerns for American Workforce
SEATTLE, Washington – A recent survey conducted by Bankrate revealed that nearly half of the American workforce is concerned about not having enough money to retire comfortably. This has led to a growing interest in financial planning and retirement strategies to ensure a secure future. Wealth advisors are emphasizing the importance of considering the “Critical 10” when it comes to retirement planning. This concept highlights the significance of financial planning in the five years leading …
401(k) Savings at Risk: How Recent Legislation and New Partnerships Are Helping to Preserve Retirement Savings
Chicago, IL – Recent research shows that nearly 40% of workers who leave a job cash out their 401(k) plans each year, resulting in significant financial losses. This trend especially affects job switchers with small accounts, who often choose to cash out their accounts rather than rolling them over. As a result, they forfeit their savings and potential future earnings on that money. According to the Employee Benefit Research Institute, such “leakages” amounted to $92.4 …
Pension Gender Gap: Women Retire with 33% of Men’s Savings
LONDON, England – Women in the UK face a significant gender gap when it comes to pension savings, with many being £136,000 worse-off due to the unaffordable childcare system. A study revealed that women need to work an extra 19 years to retire with the same pension pot as men. This significant disparity in retirement savings is a cause for concern and highlights the need for policy changes to address this issue. The gender gap …