Retirement planning
You don’t need to be a ‘Silicon Valley entrepreneur’ to be rich, financial advisor says. Here’s how to retire a millionaire
Key Points Almost anyone can save $1 million for retirement, according to financial advisors. There have been thousands of new 401(k) plan and individual retirement account millionaires this year, according to Fidelity Investments. Starting early is key, advisors say. This lets investors harness the power of compound interest. Source
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More employers add 401(k) plan match for those paying student loans
Key Points More companies are choosing to offer a 401(k) plan match to workers who are paying off their student loans. A recent law, Secure 2.0, allowed employers to essentially treat student loan payments like a 401(k) contribution for the purposes of offering a match, starting in 2024. Large companies like Kraft, Workday, News Corp. […]
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Why 401(k) plans are the ‘final frontier’ for exchange-traded funds
ETF Strategist Why 401(k) plans are the ‘final frontier’ for exchange-traded funds Published Thu, Oct 17 202410:49 AM EDT Greg Iacurci@GregIacurci WATCH LIVE Source
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Here’s why the U.S. retirement system isn’t among the world’s best
Key Points The U.S. retirement system gets a C+ grade and ranks No. 29 out of 48 in the Mercer CFA Institute Global Pension Index. Retirement plan coverage and 401(k) “leakage” are among the two primary problem areas, experts said. Policymakers have taken some steps to improve the system. Source
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As interest rates fall, it’s a ‘fantastic time’ to revisit bonds, advisor says — here’s why
Lucy Lambriex | Stone | Getty Images As the Federal Reserve cuts interest rates, investors should review their bond portfolio, which could see a boost from dovish Fed policy. The central bank in September kicked off its first easing campaign in four years with a 50 basis point rate cut, which brought its benchmark rate […]
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Life spans are growing but ‘health spans’ are shrinking. What that means for your money
Key Points The average American is living longer. But older people live fewer years in good health. Their “health span” is shrinking. Chronic medical conditions are generally associated with higher healthcare expenses. Source
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Warren Buffett’s S&P 500 bet paid off. Experts weigh in on whether it’s still a winning strategy
Warren Buffett, Berkshire Hathaway CEO and chairman. Cnbc | Nbcuniversal | Getty Images In 2007, Warren Buffett made a $1 million bet that he could outperform hedge fund managers over the course of a decade by investing in an S&P 500 index fund. In 2017, he won. Some individual investors are making similar bets on […]
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Meet the ex-Goldman wealth advisor who quit to solve Britain’s £567 billion gender investment gap
Ayesha Ofori, founder and CEO of Propelle. Propelle Ayesha Ofori is a former Goldman Sachs wealth advisor who quit her high-profile job to resolve Britain’s gender wealth gap, after realizing she had spent her career making rich men even richer. Ofori is the 40-year-old founder and CEO of female-focused financial investment platform, Propelle, which launched […]
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401(k) savers can access one of the ‘rare guarantees’ in investing, CFP says
Key Points A 401(k) match is often considered free money. Most employers offering a 401(k) plan make a matching contribution on workers’ savings. Workers may need to stay at the company for a certain number of years before the match is fully theirs, however. Source
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Planning to delay retirement may not rescue you from poor savings
Key Points Many people expect to keep working because they need extra retirement income. However, research shows workers often retire earlier than planned, perhaps due to a layoff or poor health. That means workers can’t rely on delayed retirement as a financial plan. For those who are able, working longer is among the best ways […]
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