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 […]
12 Personal Finance Tips for 2025 Read More »
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
Why It Might Be Time for a Spending Break Read More »
The 2025 retirement savings rules may provide new opportunities for individuals to save more in their 401(k) plans. This is due to the passing of SECURE Act 2.0 which passed in 2022, which many provisions set to take effect in 2025. Some of the new provisions may require employer implementation – and employers have discretion
2025 Retirement Savings Rules You Need to Know Read More »
If you’re between the ages of 60 and 63, 2025 marks a golden opportunity to supercharge your retirement savings. Thanks to the SECURE 2.0 Act, the IRS is rolling out a special “super catch-up” 401(k) contribution limit, allowing eligible individuals to save significantly more than ever before. This new contribution limit is designed to give
2025’s Super Catch-Up 401(k) Contribution: What You Need to Know Read More »
Allianz Life’s 2024 Annual Retirement Study is out, and it shows a whole lot of Americans lack plans for retirement income. In fact, more than half of Americans do not have a plan in place for retirement.¹ If that isn’t troubling enough, in a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute
Americans Lack Plans for Retirement Income [New Study] Read More »
There are many Thanksgiving traditions we enjoy, yet often participate in them without knowing their origins. For instance, why do we eat turkey? Why do we watch a parade with giant inflatable character balloons? And when did Friendsgiving become a thing? Keep reading for 12 popular Thanksgiving traditions, and you might just be the smartest
12 Thanksgiving Traditions Explained Read More »
The IRS announced changes to retirement contribution limits to help workers boost their retirement savings with cost-of-living adjustments. Whether you’re saving through a 401(k), IRA, or another retirement plan, these updates can help you plan to maximize your contributions and ensure your retirement fund grows over time. 401(k) Retirement Plan Contribution Limits for 2025 401(k)s:
Retirement 401(k) and IRA Contribution Limits for 2025 Read More »
Many Americans are potentially missing out on retirement savings by falling victims to the 401(k) to IRA rollover cash trap. According to Andy Reed, head of investor behavior research at Vanguard, “IRA cash is a billion-dollar blind spot.”¹ A recent report from Vanguard found that almost two-thirds of rollover investors unintentionally hold cash without investing
Avoid the 401(k) to IRA Rollover Cash Trap Read More »
If you are nearing retirement and have less savings than expected, you are not alone. Many Americans feel the same way. The 2023 Protected Retirement Income and Planning (PRIP) study from the Alliance for Lifetime Income found: 51% of consumers between 45 and 75 feel they do not have enough retirement savings to last their
What to Do If You’re Nearing Retirement with Less Savings Than Expected Read More »
On October 10, the new Social Security COLA increase was announced, and many retirees were disappointed. Each year, there is a cost-of-living adjustment (COLA), which is determined by a measurement of the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers. The 2025 Social Security COLA increase is merely 2.5%.¹ This
Social Security COLA Increase Is Not Designed to Cover Retirement Read More »
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