Tag Archives: retirement

As people prepare for retirement, there are many issues to consider, but one tops them all, according to one expert. “Where you live could actually probably be the biggest retirement decision you make because of the differences in taxes in different states,” Silvur founder and CEO Rhian Horgan told Yahoo Finance Live (video above) when offering advice to people nearing retirement on how they should plan ahead. The second big decision folks should think about? Health care. “With the average… Source link

A new law increasing the age you must withdraw from your retirement accounts may come with some unexpected and expensive consequences. President Biden inked in December pushes the age that retirees must start taking required minimum distributions, or RMDs, from IRAs, 401(k)s, and 403(b) plans, to 73 this year, up from 72. That will bump up higher to age 75 in 2033. The delay allows investments to grow tax-free even longer and offers a window to sock more tax-deferred dollars away. But… Source link

SmartAsset: How Long Will $400k Last in Retirement Data from the Federal Reserve shows that the average savings in the United States at retirement age is just $255,200. So if you find yourself with $400,000 in assets at retirement age, congratulations! You’re doing much better than average. But how long will your money last? The answer will depend on your investment allocation, spending habits, and other income streams. Here are some tools to help you determine your available assets and… Source link

The government is one week away from possible shutdown with lawmakers apparently nowhere near a deal to fund the government into 2023. And while most observers expect that issue to get resolved one way or another in the coming weeks, the brinkmanship appears to be jeopardizing another effort: the long-delayed retirement reform legislation informally known as SECURE 2.0. The package, if enacted, would make a host of changes to how Americans save for retirement — from increasing the age for… Source link

The government is one week away from possible shutdown with lawmakers apparently nowhere near a deal to fund the government into 2023. And while most observers expect that issue to get resolved one way or another in the coming weeks, the brinkmanship appears to be jeopardizing another effort: the long-delayed retirement reform legislation informally known as SECURE 2.0. The package, if enacted, would make a host of changes to how Americans save for retirement — from increasing the age for… Source link

Online brokerage Robinhood (HOOD) is rolling out retirement accounts for users of its mobile app, a move that comes as the retail trading frenzy that lifted the company’s fortunes last year fades. Robinhood will offer customers a 1% match on its traditional or Roth IRAs, the company said Tuesday. Users can start investing on deposits of up to $1,000 before contributions settle into their accounts. The launch brings Robinhood closer to competing more directly with established brokerages like… Source link

Here’s how much the average American 60-year-old holds in retirement savings — how does your nest egg compare? Even Americans with only modest retirement funds may be shocked to learn how many people are in desperate straits: as in, they have no nest egg at all. New research by the Federal Reserve shows that an astounding one in four Americans (including the 27% who consider themselves retired) have absolutely nothing saved. And even if you have something tucked away, it may not be enough —… Source link

I’m 63 and have zero retirement, just Social Security benefits. How can I begin saving? And where can I begin investing this late in the game? -Rita Saving for retirement is certainly easier and has a greater impact on you the earlier you begin, which you seem to understand. The longer you wait, the less time you have to put aside money. Additionally, the compounding effects from interest, dividends and growth have less time to work for you. Regardless of how late you start, however, I don’t… Source link

All along, Aaron Donald‘s retirement talk felt like a negotiating ploy. That the end result of his chatter was a $95 million contract restructure with $40 million in additional salary over the same time frame and more guaranteed money than Matthew Stafford suggests that it was. If it was a ploy, it turns out that he was playing hardball. Per NFL Network’s Ian Rapoport, Donald’s agent filed a retirement letter with the Rams on May 9, four weeks before Donald and the Rams reached agreement on… Source link

There were times when Megan Rapinoe wondered whether she was finished. There were days when rehab got arduous, and rewards seemed distant, and scary thoughts stewed. “Do I even want to do this?” Rapinoe wondered as she battled a string of vexing injuries this past spring. “Do I even want to play anymore?” She’d been playing for three decades, from the boundless fields of Palo Cedro, California, to sport’s biggest stages. She’d trained daily and performed regularly, relishing the… Source link