“Defined contribution plans like 401(k) accounts are great at helping employees save for retirement, but they provide no guarantee of income as pensions do,” notes the author of today’s article. While private sector pension plans have largely disappeared, the author highlights a pension-style retirement product that offers guaranteed lifetime income, but which only recently has entered the mainstream of retirement…
With 401(k) account balances rising, more employees are wondering how they can get their hands on that money. However, whether it’s from borrowing from their 401(k)s or pulling the money out when they leave jobs, the result is one of the biggest threats to Americans’ retirement savings: leakage. Today’s article notes that, according to one analysis, such leakage “threatens to…
In this case a race to the bottom is a good thing: In an effort to attract new customers and increase market share in an extremely competitive business, mutual fund companies are battling it out for who can offer the lowest-cost ETF – and the resultant rock-bottom fees are great news for retirement savers. The author of today’s article highlights…
In some (rare) positive retirement news, Wells Fargo’s 2016 retirement study found that the average 401(k) balance is at a new high – $92,000. So, with Americans looking to improve their financial futures and steering more dollars into their retirement accounts, how should they be investing these additional funds? In aggressive stock plans? Conservative bond funds? Low-cost index funds? To…
2016 was a banner year for 401(k)-related lawsuits, as employees felt the need to take legal action in order to have issues with sub-par retirement plans rectified – and, as the author of today’s article acknowledges, the issues that prompted these lawsuits are unlikely to improve under the current regime in Washington. As such, he outlines three things to look…
The latest Retirement Confidence Survey from the Employee Benefit Research Institute found that 63% of workers express confidence in having enough money for a comfortable retirement. But with the average 401(k) having a balance of less than $100,000, the author of today’s article states that “you have to wonder how accurate their self-assessment is.” He proceeds to outline five things…
Are your retirement savings slipping away without you even noticing? That’s what was happening to the aunt of the author of today’s article – until he drew her what he believes is “the most important 401(k) chart” to show her what was happening. What does this chart show and what simple steps does the author state you need to take…
“Over the past 10 years a quiet revolution has been transforming the 401(k) landscape,” states the author of today’s article, who notes that employers are increasingly automating decisions relating to these accounts and offering additional services for 401(k) savers. She proceeds to outline five such innovations and how you can take maximum advantage of each – including when you (and…
From real estate to hedge funds to precious metals and more, at least half a million retirement accounts hold unconventional assets – and today’s article focuses on a new report from the Government Accountability Office which warns that “retirement savers choosing these unconventional assets in self-directed individual retirement accounts and solo 401(k)s face big risks….” How might investing in unconventional…
Individual retirement accounts (IRAs) have been growing in importance on household balance sheets, and the author of today’s article notes that this is likely to continue as more and more Boomers roll over their 401(k) assets to IRAs as they retire, and as more people become aware that “some IRAs let you hold just about any kind of asset inside…