Earlier this month a commission charged with devising a plan to strengthen the retirement security and personal savings of Americans released its report – and today’s article outlines how “a lot of high income earners are going to hate it”. The 146-page report from the Bipartisan Policy Center “includes revamps of everything from 401(k) plans to reverse mortgages to tax…
What differentiates a good 401(k) plan from a bad 401(k) plan? Today’s article identifies four parameters that can have a significant impact – to the potential tune of hundreds of thousands of dollars – on your retirement nest egg: low cost, wide diversification, no fads and ‘best in class’ funds. In terms of diversification, how many choices does the author…
“Companies are willing to concede quite a bit – but people need to know what retirement benefits to ask for and how to ask,” states today’s article, which examines the biggest mistakes people make when it comes to negotiating a retirement package. From approaching negotiations as a battle rather than as “a collaborative conversation”, to focusing on money at the…
In light of the reality that many Americans are on track to fall short of meeting recommended retirement savings targets, as well as the finding that almost half of working-age households have no money saved in retirement accounts, the author of today’s article believes it is time for many to rethink their beliefs about saving, investing and retirement. As such,…
Think that the retirement lifestyles of the rich are completely out of reach? You may be wrong! According to today’s article, many high-net-worth people are living more modest retirements than we may envision: “High-wealth retirees may not necessarily be using their money to buy luxury yachts and gold-plated dishware, but their money does buy them something else: freedom.” What can…
Is the conventional wisdom wrong? Is a 401(k) not really the best way to save for retirement? The author of today’s article makes that case. After outlining the three main reasons typically put forward as to why you should maximize your contributions to your 401(k), he presents three reasons to the contrary. One reason? You are not necessarily in a…
If there’s one word that aptly describes stock prices so far this year, that word is volatility. And, as today’s article points out, “ those saving for and those living in retirement are becoming increasingly fearful of putting their life savings at risk in markets that fall and rise as they have this year.” But is this fear warranted? The…
“Newsflash to Baby Boomers: the roadmap for retirement has changed and you have to change with it.” The author of today’s article cautions that there is a “significant shift happening in retirement planning because of new technology that can deliver similar or better service…at lower cost… [and that] Baby Boomers are most at risk of missing the boat on this…
“If you’re like most people, you have less than $75,000 saved for retirement. Yet, you keep hearing that you need upward of $1 million to make it through your retirement years. Just where is that million bucks going to come from?” Today’s article outlines the stories “of 3 super-savers – people who have saved more than double the national average…
Looking for a better way to keep track of whether you are saving enough to retire? Today’s article may help in that regard, outlining “a more nuanced set of guidelines” offered up by JPMorgan. Here’s what the author has to say: “The aim is to help you track your progress in a way that reflects how much you will need…