The 401(k) system has reached its limit. There has been significant progress. Automatic-enrollment programs, default investments, and auto-escalation features have improved the early versions of plans. The current arrangement succeeds at moving employees at midsize to large companies into acceptably...
In an ideal world, you wouldn’t be counting on Social Security for the bulk of your retirement income. Most seniors need 70% to 80% of their former paychecks to live comfortably once they stop working, and Social Security will replace about 40% of...
In retirement, you’ll need savings to supplement Social Security. This is important to maintain a reasonable standard of living, as Social Security benefits are only designed to replace around 40% of pre-retirement income. And the savings you have will not only need to...
In an effort to help new parents successfully navigate the increasing costs of raising a family, last month lawmakers signed off on new rules that will allow eligible Americans to tap into their retirement savings. But it may be months before 401(k) plan sponsors...
In Business Insider’s Real Retirement series, retirees share their best advice on retirement, what worked for them, and sometimes, what didn’t work for them. From keeping their portfolios invested too heavily in the stock market, to simply starting too late,...
Gorgeous beaches, warm weather and no state income tax. These are just some of the perks of retiring in Florida, which is the best state to retire in, according to personal finance site WalletHub, which ranked states on metrics like affordability, quality...
RALEIGH, North Carolina — In North Carolina, House lawmakers are debating House Bill 924 which is a new legislation that would require high school students to take and pass a financial literacy course prior to earning their diploma. The Senate...
For rideshare drivers, tax time used to be a time of trepidation and fear as they realized no one had stashed away money for them, with each paycheck, to pay for the inevitable tax bill. However, two factors have combined that should take...
If there’s one piece of financial advice that is touted ad nauseam, it’s that it’s crucial to save as much as you can to prepare for retirement. There’s a good reason why this advice is thrown around so often....
You might think of early retirement as something reserved for the lucky few, but the truth is, it’s open to almost anyone — as long as you follow the five steps listed below. Starting as soon as possible is key, so if you’re...