- Can I Retire at 50 With $1.5 Million?
Retiring at age 50 would be a dream for most people, as it would leave you with a few decades of time and, hopefully, health, to enjoy your life. The key to achieving this dream, though, is to put aside… read more…
- What Is the Average Social Security Check in 2025?
Since the Social Security Act of 1935, Social Security has been America’s social program to help fund Americans’ retirement. But how much can you expect to see when you collect Social Security? Can the average American live on the average… read more…
- Can I Retire at 45 with $5 Million?
If you have $5 million saved and are thinking of retiring at 45, the good news is you can certainly do so. The bigger question is how you’ll need to plan your retirement around that amount and your early retirement… read more…
- How a Roth IRA Grows Over Time
A Roth IRA can be a useful tool for accumulating the funds needed to pay for a comfortable lifestyle in retirement. That’s because it permits growth without owing taxes on investment gains, and also allows savers to withdraw funds in… read more…
- Too Many People Are Cashing Out Their 401(k) Plans
When leaving a job, there are a lot of things you have to remember to do when you leave – clean out your desk, say goodbye to your coworkers and pack up your secret stash of candy, for instance. Another… read more…
- Are Your Retirement Savings on Track? Compare Your Progress Against These Benchmarks
Saving for retirement takes a lot of time, discipline and planning. But tracking your progress along the way is easier when you set incremental goals. Luckily, T. Rowe Price has released precise savings guidelines to help people who are saving… read more…
- Why Schwab Says Now Is the Right Time to Consider an Annuity
If you’re looking for ways to generate more retirement income, now may be the perfect time to consider an annuity. Payout rates for guaranteed lifetime annuities are currently at their highest levels in over a decade, according to Schwab. While… read more…
- The Average American Saver Is Coming Up 22% Short in This Vital Area
Americans are coming up way short when it comes to building a sufficient nest egg for their golden years. According to Fidelity’s recently released 2023 Retirement Savings Assessment, Americans saving about 78% of what they’ll need in retirement (a 22% shortfall). In… read more…
- No Emergency Fund? Your Retirement Is at Risk
One of the biggest threats to your retirement savings isn’t inflation, a stock market swoon or even bad investment picks – it’s you. That’s because when a financial crisis hits, many workers start draining their retirement accounts in order to… read more…
- Survey Shows Plan Sponsors Are Looking at 401(k) Fees
Saving for retirement is a key part of financial planning for most people. Unless you have a vast inheritance coming your way or you’re OK working until your very last day, you’ll need to start squirreling away money so you… read more…
- This Tax Loophole Can Save Your Heirs Big. Here’s How T. Rowe Price Says to Use It
Deciding which accounts you’ll withdraw money from – and when you’ll take it – is an important decision in retirement. However, you may want to consider preserving assets held in a taxable brokerage account and passing them down to heirs.… read more…
- Do Seniors Ever Stop Filing Taxes?
When you retire or reach a certain age, there might be certain things you no longer have to do. You might get to skip the commute or qualify for some great discounts. But no matter your age, you don’t get… read more…
- How Does GoodRx Work?
Prescription drug prices are a barrier for many when trying to get the medications they need. Although health insurance reduces the price of many prescription drugs, costs remain high for numerous medications. GoodRx finds the pharmacy with the lowest prescription… read more…
- What Is a Retirement Annuity?
A retirement annuity is a basic annuity where you pay on a contract for a set period of time and in return receive income, often for life. Retirement annuities provide predictable income, giving people increased financial security and peace of… read more…
- Can I Retire at 55 With $2.5 Million?
It probably is possible for most people to retire at age 55 if they have $2.5 million in savings. The ultimate answer, though, will depend on the interplay between various factors. These include your health, your anticipated retirement lifestyle and… read more…
- Can the IRS Take Your 401(k)?
A 401(k) plan can help you build wealth for retirement while enjoying some significant tax benefits. You might assume that your retirement assets are untouchable, but that’s not always true. For instance, can the IRS take your 401(k)? You might… read more…
- Roth IRA vs. 457(b) Retirement Plans
Roth IRA and 457(b) plans give savers tax-advantaged ways to fund a secure retirement. Almost anyone can open a Roth IRA account with after-tax dollars that then grow tax-free. Only state and local government employees can have 457(b) accounts but… read more…
- How to Open and Set Up a Self-Directed IRA
While most individual retirement plans focus on stocks and bonds, self-directed IRAs allow you to invest in a broader range of assets, from petting zoos and laser tag arenas to residential real estate and silver bars. This account type allows… read more…
- 6 Advantages of Roth IRAs: What You Need to Know
Opening an individual retirement account is an excellent step in retirement planning. However, you’ll face a choice when doing so: will you pick a Roth or traditional IRA? Your contributions to one count towards the total annual limit for both… read more…
- Social Security to Run Dry in 2034
Recently, the Social Security Administration announced that its cash reserves will run out in 2034, a year earlier than earlier projected. When this happens, the agency will continue to pay benefits based on its ongoing tax revenue. This will require… read more…
- Target-Date Investors Have a New Favorite Vehicle
A volatile market is worrisome for many Americans, including — and maybe especially — those saving for retirement. Most retirement savers aren’t looking to make the huge gains professional investors are, just to grow their money slowly and steadily so… read more…
- What is an Annuity Income Rider?
An annuity income rider is an optional feature of many annuities that retirees can use to provide themselves with a guaranteed minimum income for as long as they live. Income riders add cost and complexity to annuities but give retirees… read more…
- The Pros and Cons of a Hybrid Annuity
A hybrid annuity combines the features of a fixed annuity and a variable annuity. Hybrid annuities offer guaranteed lifetime income like a fixed annuity, plus potential for growth like a variable annuity. Limitations of hybrid annuities include higher fees than… read more…
- Do You Need a Financial Advisor After You Retire?
Managing your money never entirely stops, especially since retirement means living exclusively off of your assets and investments. That said, your involvement with your money can change considerably. After a life spent actively building your portfolio, choosing assets and trying… read more…
- How to Roll Over Your 401(k) Into An Annuity
When you leave a job where you had a 401(k) it’s important to understand what your options are for rolling over your tax-advantaged plan. Cashing out is another option but can result in significant taxes. Many choose to roll their… read more…