Over the next five years, the federal government will provide subsidies in excess of $1 trillion for retirement saving, according to estimates from the Joint Committee on Taxation. The bulk of these subsidies will be delivered through defined-contribution accounts, such as 401(k)s and IRAs, that lower
(The opinions expressed here are those of the author, a columnist for Reuters.) By Mark Miller CHICAGO, Sept 21 (Reuters) - The U.S. Internal Revenue Service hoisted a big red-flag warning to retirees earlier this month: take a look at how much income tax you are paying throughout 2018, because
Most people fill Medicare's coverage gaps by buying a Medicare supplement (medigap) plan and a Part D prescription-drug plan, or they get both medical and drug coverage from a private insurer with a Medicare Advantage plan. You have from October 15 to December 7 each year to pick a Medicare Part
In today's digital age, in which seemingly anything that matters is stored virtually "in the cloud," a physical safe deposit box comes across as a relic of the bricks-and-mortar past. But don't be too hasty to dismiss the importance of keeping certain valuables securely tucked away
How do your retirement savings measure up to those of others your age? Now, you can find out. The average 401(k) account balance is now $104,000, according to the latest quarterly analysis by Fidelity ...
Retirement is the time to relax, enjoy life and pursue meaningful activities -- not spend time managing your money. Managing your investments isn't rocket science, but it does require basic financial knowledge. You must understand the basics of stock and bond market investing.
Many parents just wing it with their finances. They may be getting away with it for now, but their kids likely won't. So, here's how parents can help their kids start saving for retirement earlier than they did.
Once you've written your will, pat yourself on the back. Then get back to work to spell out your wishes on what could be far more important than how your assets are divided. Your family's harmony could be a stake.
In this era of high unemployment, flat home prices and do-it-yourself retirement savings, some traditional rules of saving and investing are due for an overhaul. In this slide show, you'll see how we tweak some tried-and-true maxims of managing your finances.
Delaying Social Security to full retirement age or later could cost you tens of thousands of dollars, maybe even more, in unnecessary taxes if you live on your retirement savings while you wait.
Spending on grand experiences can be a wonderful gift, as long as you've properly planned. So don't worry, and don't feel guilty. Just do it.
For some retirees, retirement no longer means just golfing and travelling to visit grandchildren. While that can be part of their retirement experience, many retirees are heading back to school to pursue passions they’ve always wanted to explore after a long time in the workforce, says Stephen Stabile
When you think about IRAs, you're probably thinking stocks and bonds. But private equity investments can open new doors to some retirement savers.
We're living in a new tax world now, thanks to the overhaul passed by Congress last year. A number of breaks bit the dust, but some new ones were introduced as well. Your 2018 return will be the first to file under the new rules, but the time to look for tax savings is now. The following ideas could
Don't confuse a health care proxy with a living will. Each serves a different purpose, but you'll need both to make sure your medical wishes are honored.
Saving for retirement is understood -- you invest a certain amount of your income to a portfolio that's aligned with your risk tolerance. It's a question people who are starting to retire now need to ask, because pensions and other traditional retirement income guarantees are less common, says
For many taxpayers, it may be tempting to assume that long-cherished tax-planning strategies that have worked in recent years should work again this year. The tax package contains “the most significant changes to the tax law since the Tax Reform Act of 1986,” says Mark Luscombe, principal analyst for
President Donald Trump signed an executive order Friday directing his administration to make it easier for small businesses to band together to set up retirement-savings plans. “Small businesses will no longer be at a competitive disadvantage and small business workers will be treated more fairly,”
Nate Hake thought he got an incredible deal when he booked a last-minute room at a Las Vegas hotel recently. But when he checked in, the front desk agent informed the 32-year-old Colorado residen...
For many people, retirement — never mind “early” retirement — seems out of reach. If you have zero savings right now, build an emergency fund and keep it in a high-interest-bearing savings account. You can find the best rate on savings accounts in our Solutions Center.
Fewer Americans are asking Social Security to "show me the money" as soon as possible. The share of workers claiming Social Security retirement benefits at the earliest possible date has plunged in recent years. Retiring workers can claim Social Security anytime from age 62 to 70.