Most people (of all ages) failed this retirement quiz
Only about 20% of Americans know the amount of contributions they can make to their 401(k) plan, according to a new study from TD Ameritrade.
Retirement scan
Medicare won’t cover this key expense, and it’s eating into retirees’ savings
Dental expenses can eat away a considerable amount of retirees’ savings, but these costs are important to prevent health complications and other medical expenses.
Is it ever a good idea to hold company stock in a 401(k)?
Heavily weighting any single stock has the potential to make a portfolio more volatile.
New family leave proposal would require you to delay Social Security benefits
The U.S. is one of the few countries that doesn’t have paid family leave, and it can cause families hardship around the time of a birth, says an expert.
Trump’s budget could open up this tax-free savings account to people on Medicare
The Trump administration unveiled its proposed budget that includes provisions that would enable Medicare beneficiaries to contribute to a health savings account.
Making the most of a health savings account once you turn 65
Seniors will face a 20% penalty on top of income taxes if they withdraw funds from a health savings account for non-medical expenses before the age of 65.
Nearly two-thirds of Americans are confused about this simple way to save for retirement
Not having a full understanding could hurt workers’ retirement prospects by causing them to possibly miss out on their employer’s match or not reducing their taxable income as much as possible.
Retirement benefits for millions may be slashed without pension agency reforms, warns GAO
The Pension Benefit Guaranty Corp. is facing a $54 billion deficit for insuring multiemployer plans in unionized industries, says the GAO report.
Protect retirement savings against market crashes
The worst thing investors can do is panic and sell.
Does Social Security still have a minimum benefit?
To qualify for this feature, clients should have reported a minimum amount for at least 11 years.
When not to roll a 401(k) into an IRA
For many workers, moving assets from old 401(k)s into a traditional IRA may not be a smart move. One reason: IRAs often don’t offer stable value or guaranteed fund investment options as do most 401(k)s.
Time is running out to fix this IRA mistake and avoid a 50% penalty
If the client makes a mistake, they are advised to take the RMD as soon as they discover it so they can ask the IRS for a waiver of the penalty.
Make the most of the new military retirement plan
Those who signed up in the past year will get a smaller pension than they would under the old system, but they can expect additional benefits from the tax-advantaged Thrift Savings Plan.
Caring for kids and elders, middle-aged Americans fall short on retirement savings
The sandwich generation is struggling to save for its own needs, and when you add in family demands, it paints a "grim picture," an expert says.
Social Security’s earnings test is too complicated — and it discourages work
Although the test is complicated and misunderstood, eliminating it could “do more harm than good,” according to an expert.
Why the tax law may induce some people to put more money in 401(k)s
The cap on state and local tax deduction under the tax law may prompt more employees to direct their retirement savings to their 401(k)s than to build home equity.
Do tax law changes affect IRA deductibility?
Although more taxpayers are expected to use the standard deduction, they can still claim the tax deduction for IRA contributions.
Why full retirement age is so important for Social Security
Retirees who opt to file at a much later date can earn delayed retirement credits that could boost their benefits by as much as 32%.
Can an annuity help sidestep Social Security taxes?
Although earnings in a deferred annuity will not be included in an investor's adjusted gross income, future withdrawals from the annuity could trigger a bigger tax bill.
