Your 40s and 50s are often the prime years for building wealth, but too many people may make avoidable mistakes with their 401(k)s – mistakes that could cost them in retirement. Whether it’s not saving enough, ignoring market shifts, or borrowing from your future, these missteps can add up fast. The good news? It’s normally… Continue reading 401(k) Mistakes to Avoid in Your 40s and 50s
401(k) plans are designed to help in retirement, but if you don’t follow the rules, you may find yourself facing 401(k) withdrawal penalties. This is because the purpose of a 401(k) plan is to provide money following retirement from employment – not function as a general savings account. If you are unaware of 401(k) withdrawal… Continue reading How to Avoid 401(k) Withdrawal Penalties
It is becoming more popular to take a 401(k) loan. A December 2023 report found “more retirement savers have taken loans from their 401(k) accounts over the past year, suggesting that U.S. households are borrowing more readily as they feel the pinch of inflation.”¹ David Blanchett, a certified financial planner and head of retirement research… Continue reading How a 401(k) Loan Could Derail Your Retirement Goals
The S&P 500 went up more than 20% for 2 years in a row, an impressive run that doesn’t happen often. After 2 years of strong market performance, what should investors expect next? Keep reading (or watch the video) below as Mark Sorensen, our Chief Investment Officer, breaks down the latest trends – including… Continue reading Market Outlook: What’s Next for 2025?
Tax season kicks off this week, and with it comes a handful of changes you’ll want to know about before filing your 2024 taxes. From adjustments to standard deductions and tax brackets to updated rules on credits, contributions, and thresholds, staying informed may help you maximize your refund or reduce what you owe. Read on… Continue reading 8 Things to Know Before Filing 2024 Taxes
Retirement savers, take note – 2025 is bringing big changes to 401(k) plans. That’s because the SECURE Act 2.0 introduces changes that could offer investors new opportunities to enhance their retirement savings. These updates aim to make saving for retirement more accessible and effective for 401(k) savers. Here’s a breakdown of the top 3 changes… Continue reading 3 Major 401(k) Changes in 2025 You Need to Know
401(k) plans are a critical tool for many Americans striving to secure their retirement. These tax-advantaged accounts often represent a significant portion of an investor’s financial future. However, common misconceptions about 401(k) plans may hinder participants from optimizing their retirement savings. Sometimes, the beliefs we hold as facts can lead us astray. This applies to… Continue reading Are These 401(k) Myths Impacting Your Retirement Savings?
If you know you need to make some changes in order to increase retirement savings in 2025, then keep reading. We’ve compiled 9 potential changes you can make to your saving, spending, and investing habits that may increase retirement savings in 2025. Read on to learn more. The State of Retirement Savings According to… Continue reading How to Increase Retirement Savings in 2025
As we wrap up 2024, it’s time to focus on personal finance tips for 2025. Make getting your financial house in order your main 2025 resolution. Not only is it possible, but it is also something many of us need to do. A 2024 Bankrate study found, “Whereas 72% of Americans indicated they were not… Continue reading 12 Personal Finance Tips for 2025
America, it may be time to hit pause on spending. Even if just for a little while. The statistics from Clever speak volumes: Nearly three-quarters of Americans (71%) have regrets about their spending, and a majority of Americans (55%) say they spend recklessly. 78% of Americans make purchases they immediately regret. 38% of Americans say… Continue reading Why It Might Be Time for a Spending Break
