Social Security recipients will soon receive the largest increase in their monthly benefits that they’ve seen in seven years. The U.S. Social Security Administration announced today that beneficiaries will receive a 2.8 percent cost-of-living adjustment, or COLA, next year….
Ten years ago, Lehman Brothers filed for Chapter 11 bankruptcy, sending equity markets and ultimately the economy into a tailspin. Now, household income is at record highs, wage growth is the fastest in a decade, and average 401(k) and IRA account balances top six figures for the first time on record. But are Americans better prepared for retirement today than they were at the front of the Great Recession?….
Many companies now offer employer-sponsored Roth 401(k) retirement accounts alongside traditional 401(k) plans, giving employees another way to save for retirement. What's the difference? And should you open one?…
How much do you have saved for retirement? That's a standard retirement planning question to ask, but the answer isn't as cut and dry as it may seem. Even if you come up with a dollar figure, the actual value of that figure depends on what kind of money it is….