Savings
Showing 50 results of 368
Managing Mom and Dad’s Money
Jul 19 2024
My Dad retired in 2002 with a 403(b) and lifelong teacher’s pension. Unsure of his retirement savings, some fellow retired teachers recommended a financial advisor who “specialized in reti...
retirebeforedad.com
Women Are Saving Less for Retirement but Living Longer
Jul 16 2024
Women are saving less for retirement than men – and not just by a little. Prudential’s 2024 Pulse of the American Retiree survey found, “Across all age groups, women are particularly...
401kmaneuver.com
The $25 Trillion System of Retirement Savings Needs Fixing
Jul 13 2024
Fifty years after Congress passed a landmark retirement law, 401(k) and I.R.A. accounts enrich mostly higher-income households. Here are five ways they can be improved....
nytimes.com
Jonathan Clements, Longtime Personal Finance Columnist, Has Cancer
Jul 13 2024
Jonathan Clements, a longtime personal finance columnist for The Wall Street Journal, has a lot of savings. He’s not mad that a fatal illness will keep him from spending it....
nytimes.com
The Roth Conversion Sweet Spot: Maximize Retirement Savings (And Avoid Costly Mistakes)
Jul 09 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
Lack Of Access To Retirement Benefits Impedes Retirement Savings For People Of Color
Jul 08 2024
Black and Latino workers, along with those of other or multiple races/ethnicities have significantly less money in retirement savings than white workers do....
forbes.com
Shifting from a savings mindset to a spending mindset
Jul 06 2024
Hey all, I am retiring in 84 days (not that I'm keeping track) I have been accumulating for a long time. I am thinking its going to be a struggle to no longer be saving the same way and having to spen...
reddit.com
Three Ways to Supersize Your Retirement Savings
Jul 04 2024
Don’t underestimate the power of taking advantage of your company’s 401(k) match, catch-up contributions and more....
kiplinger.com
Everything You Need to Know About Withdrawing Money From Your Savings in Retirement
Jul 01 2024
What is your strategy to withdraw money from your nest egg in retirement? Which accounts should you tap first? And how much can you safely withdraw every year … Without running through your ent...
bossretirement.com
Ask a Financial Pro: I'm Worried About Saving for Retirement. How Important Is It to Find a Job That Offers a Pension?
Jul 01 2024
With proper planning, you can have a perfectly secure retirement without a pension....
money.usnews.com
Solo 401k: Massive Savings Opportunities for the Self-Employed
Jun 30 2024
If you are self-employed (or could be), you should know about a unique retirement savings opportunity: the Solo 401k, also known as the One-Participant 401k plan or the Individual 401k. In fact, the a...
newretirement.com
Where to Put $100k in Savings Per Year
Jun 27 2024
Let’s run through a few specific scenarios of where I would put an extra $100k in savings per year. This is $100,000 in annual savings. A sum that is very achievable for mid-level FAANG employee...
andrenader.substack.com
Third Quarter Finance Tips to Turn Things Around
Jun 25 2024
In mid-2024, Americans are still facing high inflation and high interest rates. And they are saving less and spending less. According to data from the Commerce Department, “The personal saving r...
401kmaneuver.com
Check Your Statements–There Are Record High 401(k) Savings in 2024
Jun 19 2024
Fidelity Investments recently released a report on 2024 trends, and Q1 shows record high 401(k) savings in 2024. Read on to discover more about the current 401(k) savings rate, why rates have increase...
401kmaneuver.com
Protecting Your Grandkids’ Future: Tips for Saving Money for College
Jun 17 2024
Planning for your grandchildren’s future is important. As grandparents, few things bring more joy than seeing our grandchildren thrive and succeed. One way to invest in their future and provide ...
theretirementsolution.com
Like to learn from those that grew networth in retirement
Jun 15 2024
Has any of you grown your nerworth in retirement, after retiring with just enough - say 1 million USD , outside of your primary residence? The general wisdom is that your drawdown reduces the savings ...
reddit.com
Maximizing Your Retirement Wealth: Essential Tax-Saving Strategies
Jun 13 2024
Becoming aware and fully understanding which tax-saving strategy fits your needs is important in maximizing your retirement wealth. Minimizing taxes in retirement can be tricky. Below you will see a b...
theretirementsolution.com
HSA Health Savings Accounts Strategies for 2024
Jun 05 2024
Identifying the common health savings account mistakes, identifying key strategies to maximize your HSA and exploring some of the practical ways to utilize your HSA over your lifetime. If you’re...
keilfp.com
6 Ways to Boost Your 401(k) Halfway Through the Year
Jun 03 2024
Now that we’re halfway through the year, are you looking for ways to boost your 401(k) savings? Many Americans are struggling to save like they used to, and their retirement accounts are taking ...
401kmaneuver.com
How To Build A $1 Million 401(k) With A Savings Strategy
Jun 03 2024
With the recent market jumps, the number of investors with $1 million in their 401(k) has also seen a boom. Here's how you can save and enjoy the next market push....
forbes.com
Understanding 401(k) Basics: Your Path to Retirement Savings
Jun 01 2024
A couple happily learning about the differences between a 401(k) and an IRA at the dinner table. As you journey towards retirement, understanding the fundamentals of retirement savings vehicles like 4...
theretirementsolution.com
Million Dollar 401ks And How You Can Incorporate Savings
May 31 2024
With the recent market jumps, the number of investors with $1 million in their 401k has also seen a boom. Here's how you can save and enjoy the next market push....
forbes.com
440: The Retirement Death Zone: How to Help Protect Your Savings for the Long Run
May 31 2024
What unique challenges could you face during your retirement years? While some risks remain a constant, others can present themselves depending on where you are in your retirement planning journey. In...
retirewithpurpose.com
RRSP to RRIF, and LIRA to LIF: How it all gets done
May 30 2024
In a previous column, I wrote about the necessity of winding up registered retirement savings plans (RRSPs) by the end of the year you turn 71. It’s a topic that becomes increasingly compelling ...
moneysense.ca
Budgeting and tracking processes
May 30 2024
Interested to know how you track spending v your budget. We are semi-retired w a variable income that we do not figure into our income so taking withdrawals down savings and not tapping SS until 70 pe...
reddit.com
Top 5 401(k) Questions Answered
May 29 2024
It’s important to your retirement savings and to your future retirement lifestyle to understand what you’re invested in. If you have a 401(k), this begins with asking questions – the...
401kmaneuver.com
How to Discuss Retirement When my Spouse has most of the Savings
May 27 2024
Hello all - new to the community. I am a 60 year old male in a committed relationship with my spouse. I make good money and so does she and we live in a downtown condo that has developed quite a bit o...
reddit.com
Does my home equity count as “retirement savings”?
May 27 2024
I have some $’s in an IRA and 401k but most of my (limited) net worth is tied up in home equity. Someday (maybe sooner than I hope) I’m gonna retire and downsize. I get lots of home equity...
reddit.com
Health Savings Account Asset Growth Booming
May 24 2024
Devenir report shows strong stock market led to record asset growth in 2023 even as new…...
401kspecialistmag.com
One in Five Americans Have No Retirement Savings. Do You?
May 23 2024
20% of adults ages 50+ have no retirement savings, 61% worry they won't have enough at retirement, as per new AARP survey. Plus six tips to start saving now....
kiplinger.com
Why We Should Talk About Money More Often
May 18 2024
For many people, the subject of money carries a certain stigma in social settings, especially when discussing income, retirement savings, ... Read more...
physicianonfire.com
Are You Among the Wealthiest (Top 5%) of All Retirees?
May 18 2024
Average retirement savings is a popular topic. But, new analysis using the Survey of Consumer Finances (SCF) data reports on what it takes to be in the top 1%, 5%, 10%, and 50% of wealthiest retirees....
newretirement.com
Your Money: Getting Started With Savings
May 18 2024
The earlier you begin trying to save, the easier you’ll make things for your future self....
nytimes.com
Seven Habits for a Happy Retirement
May 17 2024
A long and happy retirement takes more than just money. Here are seven things happy retirees do – besides dutifully saving the money they’ll need to quit the 9-to-5 grind....
kiplinger.com
Budgeting for Personal Development and Putting $20,000 a Year into Yourself
May 11 2024
By Dr. Dan Fosselman, Guest Writer There are multiple rules of thumb in personal finance. Set aside 15%-25% for savings, don’t spend more than 30% on housing, tithe 10%. John Maxwell, an author ...
whitecoatinvestor.com
Leaving a Legacy: Tax Savings for Your Heirs
May 11 2024
Watch this free clip from the “Estate Planning in Your Retirement” online course. Shane Perry, a TRS financial planner and course instructor, walks us through three possible scenarios for ...
theretirementsolution.com
Guide to Military Benefits for Retirement, Pay and Savings
May 09 2024
Benefits for those who serve in the U.S. military can sometimes be complex and confusing. Here’s what to know about how to optimize some of them....
kiplinger.com
How Women Can Increase Odds of Saving Enough for Retirement
May 08 2024
Pursuing financial literacy and taking advantage of savings opportunities, such as employer-offered 401(k)s, can give women saving for retirement a leg up....
kiplinger.com
The Earlier You Take Advantage of Your 401(k), the Better
May 02 2024
The power of compound interest can turn modest contributions into big savings for retirement....
kiplinger.com
Tips to Help Single Women Struggling to Save for Retirement
May 01 2024
The gender wage gap and taking time away from the workplace for caregiving duties make saving for retirement a bigger challenge for many women....
kiplinger.com
Ask a Financial Pro: The Future Seems Uncertain. What's the Point of Saving for Retirement?
May 01 2024
Retirement savers can make reasonable assumptions about the future....
money.usnews.com
What The New Fiduciary Rule Means For Your Retirement Savings
Apr 30 2024
This might seem like inside baseball, but it will have a big impact on the way you save for retirement. Don’t wait until it’s too late to know what that impact is....
forbes.com
Workers Need Both Retirement Savings (RSAA) And Social Security
Apr 25 2024
The Retirement Savings for Americans Act, currently pending in Congress, is also part of the solution....
forbes.com
America's 5 richest retirement towns
Apr 24 2024
Retirement doesn't have to mean scrimping and saving. Here are five parts of the country where seniors are living large in their golden years....
financial-planning.com
9 Ways to Overcome the Terror of Spending Your Retirement Savings
Apr 19 2024
Terror about retirement spending is not uncommon. In fact, most people are worried about spending their nest egg and running out of money. After all, you have been conditioned for decades to earn, not...
newretirement.com
The Most Important Retirement Decision For Pre-Retirees
Apr 17 2024
Shift your decisions from saving for retirement to living in retirement, and focus on the retirement decisions with the most impact....
forbes.com
Ask a Financial Pro: What Can a Financial Advisor Do for My Retirement Savings That I Can't Do on My Own?
Apr 16 2024
A financial advisor's dedicated expertise, time commitment and skills in helping clients manage emotions can be valuable....
money.usnews.com
What Happens Financially When You Work One More Year?
Apr 14 2024
The impact of saving more, spending less later and benefiting from an extra year or more of compounding can be truly staggering....
kiplinger.com
15 Common Roth Conversion and Savings Mistakes People Make
Apr 12 2024
It is highly likely that you have considered saving (or converting existing savings) into a Roth IRA or 401k. Someone, a friend, family member, advisor, your bank, or colleague may have recommended it...
newretirement.com
Secure the the Life You Want: 7 Questions To Ask Before Retirement (It’s Not Just About Savings)
Apr 12 2024
Life can pass quickly when you are occupied with work, family matters, and the never-ending to-do list. Before you know it, your retirement years have arrived sooner than expected. No matter your age,...
newretirement.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.