Retirement planning
This is the ‘billion-dollar blind spot’ of 401(k)-to-IRA rollovers, Vanguard finds
Key Points Moving money from a workplace retirement plan like a 401(k) plan to an individual retirement account is common when switching jobs or retiring. Savers are often unaware their 401(k)-to-IRA rollovers sit in cash as a default. Holding excess cash is generally a mistake for long-term investors. Source
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It’s not always ‘a sexy thing’ to be a millionaire, former NFL linebacker Brandon Copeland says. Here’s why
Your Money It’s not always ‘a sexy thing’ to be a millionaire, former NFL linebacker Brandon Copeland says. Here’s why Published Tue, Sep 10 202410:02 AM EDT Greg Iacurci@GregIacurci WATCH LIVE Source
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Why the father of ‘life planning’ says you’re managing money the wrong way
Key Points George Kinder is recognized as the father of the “life planning” movement of financial advice. Consumers often put the emphasis in the wrong areas when it comes to personal finance, Kinder said. His “three questions” aim to uncover your goals and desires, and inspire you to take steps to achieve those dreams financially. […]
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How high earners can funnel money to a Roth IRA, the ‘gold standard’ of retirement accounts
Key Points Investors with high incomes may not be able to contribute to a Roth or make deductible contributions to a traditional individual retirement account. However, a strategy called the “backdoor Roth IRA” lets high earners access Roth accounts. Investors would make a nondeductible contribution to a traditional IRA, and then convert those funds to […]
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401(k) auto-enrollment features don’t help savings as much as expected, study finds
Key Points 401(k) plan policies like auto-enrollment and auto-escalation have become popular. They aim to boost workers’ retirement savings. Pioneering researchers found that the policies may be less effective than they’d previously thought. However, the effects are still positive, they said. Source
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Romance frauds charge people $1.14 billion last year. It is a ‘more insidious’ fraud, expert states
Tolgart | E+ | Getty Photos Cybercriminals are targeting prosperity accounts by tapping into a victim’s emotions. So-referred to as romance frauds require constructing a romance and believe in with the sufferer so that the goal willingly presents accessibility to their accounts or transfers money to the legal, stated Tracy Kitten, the director of fraud […]
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Is the U.S. inventory industry as well ‘concentrated’? Here’s what to know
Important Details The 10 premier U.S. businesses accounted for 14% of the S&P 500 stock index a 10 years in the past. Currently, they account for a lot more than a third. Tech euphoria has served drive up the “Spectacular 7” stocks: Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla. Some specialists fear that such […]
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This retirement preparing hole is ‘hidden in basic sight,’ Harvard professor suggests
Important Details Organizing for retirement usually focuses on one’s finances: When to assert Social Safety and how significantly to preserve in a 401(k) strategy, for illustration. Investing in sturdy social connections, whether or not with a associate, friends, relatives or some others, is arguably just as essential. The Harvard Research of Grownup Progress demonstrates that […]
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Clarity? In this economy?
Malte Mueller | Fstop | Getty Photographs Jim LaPointe knows that how the economic system feels “relies upon on your viewpoint.” 4 a long time immediately after Covid-19 lockdowns kicked off a household fix-up frenzy, the central New Jersey contractor’s small business stays by means of the roof. Even though Property Depot said previously this […]
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Here is why you may be saving additional in your 401(k) — and not even know it
Vital Factors Quite a few businesses that sponsor 401(k) programs have adopted “automated escalation.” The mechanism immediately raises workers’ personal savings charge above time. 401(k) investors must ideally save at minimum 15% of their yearly spend, according to a single money advisor. Source
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