Savings
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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
Budgeting and Saving During Residency
Oct 26 2024
Over half of all residents say they aren’t paid enough, and that’s a fair point, given that we basically live ... Read more...
physicianonfire.com
Albert App Review 2024: Pros, Cons, and More
Oct 25 2024
Explore the 2024 Albert App Review, covering its budgeting, savings, investing, and cash advance features. Learn the pros and cons, safety measures, and whether Albert Genius is worth the subscription...
thinksaveretire.com
Savings Boost from Auto-Enrollment Wanes Over Time
Oct 24 2024
Forty percent of U.S. private-sector workers in a 401(k) retirement plan are in plans with automatic enrollment, and the widely agreed-upon story is that these plans work well. Now comes a more nuance...
crr.bc.edu
The Road to Better Retirement Outcomes with MFS’ Jeri Savage
Oct 23 2024
In this episode, discover retirement saving trends, financial priorities, and misconceptions…...
401kspecialistmag.com
Bankrate Partners with SmallBusinessLoans on SMB Financing
Oct 23 2024
In this episode, discover retirement saving trends, financial priorities, and misconceptions…...
401kspecialistmag.com
Multiple Job Transitions Could Result in $300K Retirement Savings Loss
Oct 13 2024
Forty-four percent of workers in a Vanguard dataset either increased or maintained their…...
401kspecialistmag.com
Your Retirement: Don’t Be Another Statistic
Oct 09 2024
Americans are not saving enough for retirement. In a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute for Retirement Security shares, “Most Americans ...
401kmaneuver.com
Are Adjustable Rate Mortgages Right for You in a High Interest Rate Environment?
Oct 08 2024
Are short-term savings using an adjustable rate mortgage worth the risk of rate hikes? In this podcast, we cover how adjustable rate mortgages (ARMs) work, how they differ from fixed-rate mortgages, a...
buzzsprout.com
Ode to the Passbook Savings Account
Oct 04 2024
On December 1st, 1986, my Mom took me to open my first bank account at the local Dollar Bank branch. I was 11 years old and a little skeptical of giving the bank teller my $21.60. I walked out with a ...
retirebeforedad.com
The Roth Conversion Sweet Spot: Maximize Retirement Savings (And Avoid Costly Mistakes)
Oct 01 2024
Listener Nael opens up a discussion about Roth conversions. There are benefits to doing Roth conversions, but can you do too many? Are there any downsides to Roth conversions? Reaping the tax benefits...
buzzsprout.com
How to Prepare for Retirement Within 5 Years: 401k, Savings & Investment Changes
Oct 01 2024
Graham and his wife are in their early 50s and plan to retire in 5 years. He wonders if they should continue maxing out their 401ks, how their investments should change, and what they should do with s...
buzzsprout.com
How to Know When You Should Stop Saving for Retirement (and What to Do Next)
Oct 01 2024
Drew, a burnt-out, financially responsible 40-something father of two, hopes he can scale back from his stressful job and still be okay when it’s time to retire. James offers a practical and phi...
buzzsprout.com
Here's How Gen Xers Are Catching Up on Retirement Savings
Sep 30 2024
Gen Xers still have time to maximize retirement contributions, educate themselves about finances and plan carefully...
money.usnews.com
Need to Save More for Retirement? You're Not Alone, Says Study
Sep 29 2024
A new Bankrate survey shows that 57% of Americans feel behind on their retirement savings. Here's what you can do....
kiplinger.com
Five Tax Strategies to Preserve Your Retirement Savings
Sep 29 2024
From Roths to HSAs to creative Social Security timing, retirees have many options to minimize their taxes. You might be surprised what a difference it can make....
kiplinger.com
Here's What The Interest Rate Cut Means For Retirees
Sep 27 2024
Find out how the Federal Reserve’s interest rate cut could affect your retirement savings, investments, and mortgage payments....
forbes.com
Age Plus 20 Rule for Retirement Contributions - 496
Sep 24 2024
How much should you save in pre-tax accounts vs. post-tax accounts? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "age plus 20" rule for retirement savings, Roth 401(k) contributions ...
purefinancial.com
Gen Z Names Savings, Not Debt Management, as Top Financial Goal
Sep 22 2024
Yet, HR leaders and managers say reducing debt is the youngest working demographic's main goal...
401kspecialistmag.com
FinFit Partners with Sunny Day Fund on Emergency Savings
Sep 22 2024
FinFit clients will be able to add Sunny Day Fund emergency accounts to FinFit's existing…...
401kspecialistmag.com
Voluntary separation (VSP) offer has my head spinning
Sep 21 2024
I’m 60, and I’d planned to retire in 18 months at 62. Our current savings is about 20x our expenses, but I was hoping to get to 25x. Well, our company has offered many of us a voluntary se...
reddit.com
A High Savings Rate Covers a Multitude of Sins
Sep 20 2024
Saving lots of money comes with one downside. You have to spend less. But having a high savings rate can set you up for the rest of your life. The post A High Savings Rate Covers a Multitude of Sins a...
whitecoatinvestor.com
How to Save More Money: 23 Smart and Mostly Easy Ways to Boost Your Savings
Sep 20 2024
Don't think you could possibly save more money for retirement? These tips will help you shift your mindset for a secure and happy future. Read now! The post How to Save More Money: 23 Smart and Mostly...
boldin.com
HSAs are ?: Health Savings Accounts for Early Retirement
Sep 19 2024
This year my family switched from our EPO health insurance plan to a High Deductible Health Plan with a Health Savings Account (HSA)....
andrenader.substack.com
Retirees Living in Someone Else’s Home See Big Savings
Sep 19 2024
More than one in five older Americans is living with other adults – adult offspring, parents, grandchildren, extended family, friends – who are not their romantic partners. A new study exa...
crr.bc.edu
12 Steps to Protect Your Retirement Savings From Market Volatility
Sep 13 2024
Even when the market ebbs and flows, you can keep your retirement investments stable with these proactive strategies....
kiplinger.com
Saving to Be a 401(k) Millionaire? Plan for Taxes Now
Sep 11 2024
Your tax bite in retirement could be excruciating. Here's why super savers need to get serious about protecting themselves....
kiplinger.com
Investors Proactively Managing Retirement Savings
Sep 10 2024
More are also taking interest in lifetime income options, notes Nationwide's new Protected…...
401kspecialistmag.com
Reduce client regrets on retirement savings with these tips
Sep 07 2024
Most Americans wish they had started saving for retirement sooner and that they hadn't withdrawn money early from retirement accounts, a recent study says....
financial-planning.com
IRS Seeks Comment On A New Savings Plan For Retirement Funded By The Treasury
Sep 06 2024
The super-charged saver’s match builds on the existing saver’s credit as an opportunity to improve the long-term financial security of low- to moderate-income Americans....
forbes.com
7 Times to Stop Saving for Retirement
Sep 06 2024
Push pause on retirement contributions to cover life events and the unexpected....
money.usnews.com
The Ideal Retirement Withdrawal Rate: How to Make Sure Your Savings Last as Long as You Need Them to
Sep 04 2024
Learn about the ideal withdrawal rate and the 4% rule. Plus, understand a more personalized approach to retirement withdrawals. The post The Ideal Retirement Withdrawal Rate: How to Make Sure Your Sav...
boldin.com
Saving for Your Future Stranger
Sep 04 2024
How do we view our future selves? For most people, it's that of a complete stranger. It could be a reason why some don't save for retirement. The post Saving for Your Future Stranger appeared first on...
whitecoatinvestor.com
How to Protect Your Retirement Savings in an Election Year
Sep 04 2024
Here’s how to stabilize your retirement portfolio and protect your savings in a volatile election year....
money.usnews.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.