Savings
Showing 50 results of 321
Converting Retirement Savings to a Roth IRA? Don't Do This
Jan 17 2025
You might want to convert all of your savings to a Roth in one go, but you could end up paying hundreds of thousands more in taxes than you have to....
kiplinger.com
Are These 401(k) Myths Impacting Your Retirement Savings?
Jan 15 2025
401(k) plans are a critical tool for many Americans striving to secure their retirement. These tax-advantaged accounts often represent a significant portion of an investor’s financial future. Ho...
401kmaneuver.com
Dragging Your Feet on Saving for Retirement? Here's How to Jump In
Jan 15 2025
Procrastinating when it comes to saving for retirement is all too common. But stalling for too long will hurt your long-term financial security and peace of mind. Here are five tips to break the cycle...
kiplinger.com
The average 401(k) balance by age
Jan 14 2025
The 401(k) is one of the most common investment vehicles to save for retirement. See how your long-term savings stack up....
empower.com
How To Manage Retirement Savings When Living Abroad
Jan 14 2025
Retiring abroad can be a dream come true if you have a good grip on your finances. Here's what you need to know to make it a reality....
kiplinger.com
State Auto-IRA Savings Could Affect Medicaid Eligibility
Jan 13 2025
Low-income retired couples with less than $3,000 in assets can get Medicaid to supplement their Medicare insurance or pay for a nursing home. This asset cap, set by state governments, mainly applies t...
crr.bc.edu
More SECURE 2.0 Retirement Enhancements Kick in This Year
Jan 11 2025
Saving for retirement gets a boost with these SECURE 2.0 Act provisions that are starting in 2025....
kiplinger.com
Average and median retirement savings at age 65? or 67?
Jan 11 2025
Why is this information seem impossible to find? Every article seems to talk about averages in 10 year rangers. For example, age 45-55, 55-65, 65-75. Considering many people start retirement when medi...
reddit.com
Late to the Retirement Savings Party? Five Tips for 2025
Jan 10 2025
If you did a poor job saving for retirement last year, don't despair. There are ways to build your nest egg in the new year....
kiplinger.com
How to Increase Retirement Savings in 2025
Jan 10 2025
If you know you need to make some changes in order to increase retirement savings in 2025, then keep reading. We’ve compiled 9 potential changes you can make to your saving, spending, and invest...
401kmaneuver.com
What’s the Present Value of Your Accumulated Savings?
Jan 10 2025
If you are not an actuary, you may not be familiar with present values. This basic actuarial concept is integral to determining your Funded Status (the present value of your household assets/sources o...
howmuchcaniaffordtospendinretirement.blogspot.com
Adjusting my mindset from will I have enough? to Yes! I can retire.
Dec 26 2024
I'm 62 (will be 63 on the 1st) and I have worked for the same company the last 22 years. When I started there I felt waaay behind on retirement saving and had just bought my house so had a 30 year mor...
reddit.com
Employees Reflect on Financial Wellbeing this Holiday Season
Dec 18 2024
Older workers share key financial lessons like saving for retirement earlier, maximizing…...
401kspecialistmag.com
2025 Retirement Savings Rules You Need to Know
Dec 17 2024
The 2025 retirement savings rules may provide new opportunities for individuals to save more in their 401(k) plans. This is due to the passing of SECURE Act 2.0 which passed in 2022, which many provis...
401kmaneuver.com
Unpacking The B.O.S.S. Retirement Scorecard Part 2 (Ep. 5)
Dec 17 2024
Many people believe that saving a million dollars is the golden ticket to a perfect retirement. However, without a comprehensive plan, that million can quickly diminish. Let’s break down why.&he...
bossretirement.com
Why People Are Deciding To Unretire And The Benefits Of That Choice
Dec 16 2024
Reasons for unretirement range from underestimating your savings, to being bored and craving mental stimulation, to looking to benefit society....
forbes.com
Universal Savings Accounts Are Like Roth IRAs, But With a Twist
Dec 15 2024
Republican lawmakers and conservative think tanks are proposing a new type of tax-advantaged savings account. Think Roth IRAs, but not just for retirement....
kiplinger.com
Empower Review 2025: Your Guide to the Empower Financial App
Dec 13 2024
Discover the features, pricing, pros, and cons of Empower in our 2025 review. Learn how Empower's budgeting tools, automated savings, and cash advance options can help streamline your personal finance...
thinksaveretire.com
10 Steps To Prepare Your Finances For Retirement
Dec 12 2024
After years of saving during your working years, what changes should you make to prepare your finances for retirement? When your paycheck stops, you’ll depend on your portfolio to fund […...
theretirementmanifesto.com
2025’s Super Catch-Up 401(k) Contribution: What You Need to Know
Dec 12 2024
If you’re between the ages of 60 and 63, 2025 marks a golden opportunity to supercharge your retirement savings. Thanks to the SECURE 2.0 Act, the IRS is rolling out a special “super catch...
401kmaneuver.com
HSAs are ?: Health Savings Accounts for Early Retirement
Dec 12 2024
This year my family switched from our EPO health insurance plan to a High Deductible Health Plan with a Health Savings Account (HSA)....
faangfire.com
Where to Put $100k in Savings Per Year
Dec 12 2024
FAANG Savings Prioritization. Discover strategic investment scenarios for mid-level FAANG employees and tech professionals looking to optimize $100k in annual savings. This guide covers various financ...
faangfire.com
Four Actions to Lessen Retirement Stress for Women (and Men)
Dec 09 2024
Saving for retirement is anxiety-inducing for everyone, especially women. Following this four-part action plan can help improve your financial security....
kiplinger.com
What is a Health Savings Account (HSA)? And, Why It’s a Great Retirement Savings Option
Dec 07 2024
What is a Health Savings Account? Explore 4 ways it saves you money and why you might want to use one for retirement savings. The post What is a Health Savings Account (HSA)? And, Why It’s a Gre...
boldin.com
Six Year-End Deadlines for Retirees in 2024
Dec 05 2024
Here are six key end-of-year 2024 deadlines that retirees and those saving to retire won't want to miss....
kiplinger.com
The Savings Playbook, a Logical and Meaningful Way to Prioritize Where You Save Money
Dec 05 2024
The savings playbook is a methodology for determining the most impactful way to use your money. Check it out, #4 surprises people. The post The Savings Playbook, a Logical and Meaningful Way to Priori...
boldin.com
Unpacking Common Retirement Challenges(Ep. 3)
Dec 04 2024
Did you know that the average retired couple could end up paying hundreds of thousands of dollars in taxes on their retirement savings? Join Tyson Thacker and Ryan Thacker, as…...
bossretirement.com
The Wealth-Building Powers of Health Savings Accounts (HSAs)
Dec 03 2024
Health savings accounts could be the most underutilized wealth-building tool out there. Here’s who should use them and how to maximize their benefits....
kiplinger.com
Mega Backdoor Roth IRA: Supercharging Your Retirement Savings
Nov 26 2024
Ever since I started saving for retirement in 1999, I’ve been a proponent of tax-deferred retirement vehicles like the 401(k) and skeptical of tax-now vehicles like the Roth IRA. Working in bank...
financialsamurai.com
Black Friday is Just Around the Corner: Is It Worth It?
Nov 24 2024
Black Friday is nearly here, and for many shoppers, it’s an annual opportunity to grab discounted items, often with deals that promise major savings. But is this shopping frenzy really worth it,...
thinksaveretire.com
Half of Retirees Stress Over Spending Retirement Savings
Nov 24 2024
Roy Gori will stay on as an advisor at Manulife after retirement to support the transition...
401kspecialistmag.com
9 Year-End Money Moves to Make Now
Nov 23 2024
Boost your retirement savings, lower your taxes and get the most out of your health insurance....
kiplinger.com
Thrift Savings Plan Contribution Limits for 2024 and 2025
Nov 21 2024
Thrift Savings Plan contribution limits are rising to $23,500 in 2025 from $23,000 in 2024. Plus, new catch-up limits for people 60-63....
kiplinger.com
Advice - moderate savings, hopefully 3 years to go, wife retiring 6 years later
Nov 19 2024
Hello there. Age 64 now and would like to retire @ 67. Have about $375K in 401K plus $85K in my wife's 401ak but she is 8 years younger and plans tonwork to 65 before retiring herself. Musts before I ...
reddit.com
65-year-old Utah couple find $292,567 in retirement tax savings
Nov 19 2024
At 65 years old, Mike and Patty from Lehi were reaching retirement age and were in a good position. Mike had worked for 20-plus years for a local Salt Lake…...
bossretirement.com
New Rules for Retirement Savings Taking Effect in 2025
Nov 13 2024
Many employees will be able to contribute more money to tax-advantaged workplace plans....
kiplinger.com
Should I separate out Long Term Care funds into a separate account?
Nov 10 2024
We’re recently retired with more than sufficient savings to fund our retirement. We’ve decided to self-fund our Long Term Care from our savings. I’m trying to decide whether or not t...
reddit.com
Looking for a great retirement option that is affordable!
Nov 10 2024
I'm 59 and my retirement savings situation is not great. I'm single, female, and live in Texas. I do own a home right now, I have about $140k in equity. I am still working full-time and I'm planning t...
reddit.com
Seven Retirement Moves to Make Before 2025
Nov 09 2024
From applying for Social Security and donating to charity to maximizing your savings accounts, ere are retirement moves to make before 2025....
kiplinger.com
Super.com Review 2024: Is Super.com legit?
Nov 08 2024
Explore Super.com, a versatile savings platform offering cash-back rewards, travel discounts, and exclusive deals across categories....
thinksaveretire.com
2025 401(k) Contribution Limits: Bigger Savings, Better Retirement
Nov 08 2024
The 401(k) contribution limit for employees in 2025 has increased to $23,500, up from $23,000 in 2024. The employer contribution limit also rises to $46,500, bringing the combined employee and employe...
financialsamurai.com
New 401(k) Contribution Limits for 2025
Nov 08 2024
Savers using employer-sponsored retirement accounts can boost savings and have more opportunity for compounding....
money.usnews.com
Help! I’m 64 and forced to retire with little savings.
Nov 07 2024
Hi. Like the title says, I lost my job at 64. I was laid off and the industry that I am in is very depressed so the chances of getting a similar job soon is pretty low. In fact I don’t really wa...
reddit.com
Retiring Next Year? Do THIS With Your Retirement Savings!
Nov 07 2024
5 Steps to prepare your savings within 12 months of your retirement....
keilfp.com
New SECURE ‘Super Catch-Up’ Contribution for Ages 60-63
Nov 04 2024
SECURE 2.0 changes will allow older workers to increase their retirement savings next year. Here's what you need to know....
kiplinger.com
Three Advantages of These Underrated Accounts for Retirees
Nov 01 2024
Using taxable accounts for some retirement savings in the 10 years before and after retirement can give you greater flexibility and benefit your heirs....
kiplinger.com
Chime Review 2024: Is Chime the Right Bank for You?
Nov 01 2024
Discover how Chime's SpotMe cash advance, no-fee banking, and early direct deposit make it a top choice for digital banking. This review covers Chime’s key features, including its savings tools,...
thinksaveretire.com
How Do You Compare? Average Cash Savings, Home Equity, Retirement Savings and Other Balances of the American Middle Class
Oct 31 2024
Worried about money? You're probably in better shape than average! Compare your balance to the average cash, savings, home equity of others. The post How Do You Compare? Average Cash Savings, Home Equ...
boldin.com
What to Do If You’re Nearing Retirement with Less Savings Than Expected
Oct 30 2024
If you are nearing retirement and have less savings than expected, you are not alone. Many Americans feel the same way. The 2023 Protected Retirement Income and Planning (PRIP) study from the Alliance...
401kmaneuver.com
The Minimum Savings You Need To Retire in All 50 States
Oct 26 2024
Are you concerned you haven't saved enough for retirement? Here are the average annual expenses and minimum savings amounts needed to get by in all 50 states....
kiplinger.com
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About Savings
Saving for retirement is an important financial goal that can help you secure your financial future and ensure that you have the resources to live comfortably after you stop working. There are many ways to save for retirement, including:
Contribute to a 401(k) or other employer-sponsored retirement plan: Many employers offer 401(k) or other retirement plans that allow you to save and invest a portion of your income for the future. These plans often offer tax advantages and may even include employer matching contributions, which can help you save more.
Open an individual retirement account (IRA): An IRA is a type of investment account that is specifically designed for retirement savings. There are several types of IRAs, including traditional IRAs, Roth IRAs, and SEP IRAs, which are designed for self-employed individuals.
Save and invest on your own: If you don't have access to a 401(k) or IRA, or if you want to save more for retirement, you can also save and invest on your own. This can be done through a brokerage account, where you can buy and sell a variety of investments, such as stocks, bonds, and mutual funds.
Save and invest in other ways: There are also other ways to save for retirement, such as through a pension plan or by purchasing an annuity. It's important to consider all of your options and choose the one that best fits your needs and financial situation.
No matter what method you choose, it's important to start saving as early as possible and to contribute as much as you can to your retirement account. The more you save and invest now, the more you'll have to live on during retirement.