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Retirees risk disaster over 3 widely held money myths

Retirees risk disaster over 3 widely held money myths

The retirement math millions rely on no longer holds up.
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Schwab traces retirement's biggest gap to a silent drain

Schwab traces retirement's biggest gap to a silent drain

The biggest threat to Gen X's retirement savings is hiding in everyday family spending.
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Goldman Sachs Report Reveals Financial Strains Undermining U.S. Retirement Readiness

Goldman Sachs Report Reveals Financial Strains Undermining U.S. Retirement Readiness

Goldman Sachs Report Reveals Financial Strains Undermining U.S. Retirement Readiness
TheStreetTheStreet
IRS sends notices about new Saver's Match worth up to $2,000

IRS sends notices about new Saver's Match worth up to $2,000

Millions of Americans just got a letter from the IRS. What it actually means is more complicated than it looks.
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Baby Boomers Prioritize Protection and Personalized Banking Experiences Amidst Evolving Financial Landscape

Baby Boomers Prioritize Protection and Personalized Banking Experiences Amidst Evolving Financial Landscape

Baby Boomers Prioritize Protection and Personalized Banking Experiences Amidst Evolving Financial Landscape
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Social Security’s estimator makes one costly assumption

Social Security’s estimator makes one costly assumption

The monthly estimate could include paychecks you’ll never receive.
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Coordinated Social Security and 401(k) Strategies Crucial for U.S. Retirement Income

Coordinated Social Security and 401(k) Strategies Crucial for U.S. Retirement Income

Coordinated Social Security and 401(k) Strategies Crucial for U.S. Retirement Income
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Brookings Institution Proposes SECURE 3.0 Reforms to Enhance U.S. Retirement Savings System

Brookings Institution Proposes SECURE 3.0 Reforms to Enhance U.S. Retirement Savings System

The Brookings Institution has put forth proposals for 'SECURE 3.0,' aiming to address persistent gaps in the U.S. retirement saving system. Building on the SECURE Act and SECURE 2.0, which expanded retirement plan coverage and encouraged automatic saving, these new recommendations focus on improving the targeting of tax subsidies, broadening access to workplace retirement plans, and promoting lifetime income options. The institution highlights that despite previous reforms, millions of workers still lack easy ways to save for retirement, and employers are hesitant to offer lifetime income solutions. The proposals seek to restore lifetime income to retirement plans by establishing partial annuitization as an automatic payout default in defined contribution plans, thereby allowing employers to offer this option without additional fiduciary risk. This initiative aims to provide retirees with low-cost protection against longevity risk and simplify complex financial decisions, effectively reintroducing a form o...
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IRS Notifies Taxpayers About New Saver's Match Retirement Benefit

IRS Notifies Taxpayers About New Saver's Match Retirement Benefit

The IRS has begun sending notices to taxpayers who may be eligible for the new Saver's Match program, a retirement benefit authorized by the 2022 Secure 2.0 retirement legislation. This program, set to debut in the 2027 tax year, will provide income-eligible retirement savers with a matching annual contribution of up to $1,000 for single filers and $2,000 for joint filers. The IRS sent CP321J notices to individuals who claimed the previous saver's credit on their 2025 tax return or whose 2025 income fell within the eligibility range. The benefit applies to savings in workplace plans like 401(k)s or individual retirement accounts. Taxpayers will claim the Saver's Match using a new Form 8880-A when filing their 2027 tax return in 2028. This initiative aims to replace the existing saver's credit, which was a nonrefundable tax credit that could only reduce a tax bill to zero, offering minimal benefit to low-income households with little to no tax liability.
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America's retirement 'magic number' just hit another record

America's retirement 'magic number' just hit another record

Most people have a retirement number in their head. A new record shows how fast that number keeps moving.
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Retirees Face Psychological Barrier to Spending Savings Despite Financial Security

Retirees Face Psychological Barrier to Spending Savings Despite Financial Security

Retirees Face Psychological Barrier to Spending Savings Despite Financial Security
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Study Reveals Majority of U.S. Workers Expect to Restrict Spending in Retirement

Study Reveals Majority of U.S. Workers Expect to Restrict Spending in Retirement

Study Reveals Majority of U.S. Workers Expect to Restrict Spending in Retirement