I’ve written before about the higher barrier to retirement security facing women. So I was heartened to read the following article from the New York Times, which finds that the growth of female 401(k) millionaires has doubled in the past 12 years....
Aging with Dignity
Save A Little Something Extra
There are some advantages to getting older, especially if you are behind in your retirement savings. In the year you turn age 50 (and every year thereafter until retirement), individuals are allowed to make “catch-up” contributions to help boost retirement savings. In qualified retirement plans like 401(k)s, the catch-up amount is $6,000; for IRA accounts, the amount is $1,000. But how much does that boost in savings help?...