Jun 3, 2022 | Retirement Planning
KEY POINTS The so-called rule of 72 is a rule of thumb investors often use to gauge how quickly their money will double in value. The rule also works with inflation, but in reverse: It approximates the length of time for money to lose half its value. If April’s 8.3%...
May 31, 2022 | Retirement Planning
Here’s how rising interest rates can affect your lump-sum benefits KEY POINTS Many companies that offer traditional pensions give workers the option to take their benefits as a lump sum instead of as an annuity. The higher the rate used to calculate a lump sum — to...
May 24, 2022 | Retirement Planning
could go higher. Here’s who would benefit KEY POINTS Required minimum distributions, or RMDs, are amounts that must be withdrawn annually from qualified retirement savings accounts. If the RMD age is raised to 75 from 72, it would provide more time to move assets...
May 20, 2022 | Retirement Planning
But they may wait years for those contributions to be their own KEY POINTS Vesting schedules — the length of time you must be at an employer for its 401(k) contributions to be 100% yours — can be as much as six years. The most common matching formula is 50 cents for...
May 10, 2022 | Retirement Planning
KEY POINTS The latest Federal Reserve Survey of Consumer Finances found the median amount of savings in Americans’ retirement accounts was $65,000. About half of all Americans are at risk of not being able to maintain pre-retirement standards of living, said Angie...
May 6, 2022 | Retirement Planning
Here’s what it could be costing them Getty Images KEY POINTS Nearly two-thirds — 62% — of workers identified company matches to 401(k) plans as important for reaching retirement goals in a recent survey from Principal Financial Group. Just 22% said that starting to...
