Trump suggests new retirement options for employees lacking 401(k) plans.
In his State of the Union address on Tuesday night, President Trump promised to provide private sector workers, especially those without employer-sponsored retirement plans, access to new accounts that would enjoy the same tax benefits as those available to federal employees. “My administration will give America’s often overlooked workers, the folks who laid the groundwork […]
How AI Might Harm Your 401(k)
Artificial Intelligence: Boom, Bubble, or Bust? So, what’s the deal with artificial intelligence? It’s likely a combination of all three: boom, bubble, and bust. And as exciting as that sounds, it also means that investment risks are on the rise. This increase urges many retirees or those close to retirement to reassess their financial strategies. […]
The designer of Trump’s universal 401(k) explains why low-income individuals are skeptical about retirement accounts: ‘They want to know what the catch is.’
As costs continue to climb, and with one of the two Social Security trust funds expected to run out by 2032, many Americans are finding it tough to envision a secure retirement. The Trump administration aims to address this issue. In his State of the Union address on Tuesday, President Trump unveiled a proposal to […]
Would You Prefer to Retire With a Million-Dollar House or $1M in Your 401(k)?
Important points A 401(k) provides liquidity, flexibility, and potentially higher returns, making it a favored choice among financial planners. Owning a home can eliminate monthly rent or mortgage payments, though it does come with ongoing expenses such as taxes and maintenance. Would you prefer a home worth $1 million or a 401(k) with that same […]
Is it unwise? I have $108K in my 401(k) and plan to retire by the end of this year. What should I do next?
I’m retiring at the end of this year and have about $108,000 in my 401(k) that I need to move. How can I find information on how to move this money? Is it a bad idea to hire a financial advisor for just this task? Or should I consider hiring one to look at my […]
Changes to the 401k catch-up rules for high earners starting in 2026 are explained.
The IRS is set to implement new rules that will change how Americans can make retroactive contributions to their workplace retirement accounts, starting in early 2026. This shift could really influence how people approach retirement planning and budgeting. The updates, stemming from the SECURE 2.0 Act of 2022, will particularly affect individuals aged 50 and […]
I’ve been adding to my 401(k) for 25 years, yet I’ve never received a single statement. How serious is that?
Question: “I’ve been with my company for years, and my 401(k) has been active since 2000. But here’s the issue: I’ve never received a statement. I’ve managed investments for 25 years using the same firm, yet I lack documentation for my 401(k). What do I do now that I haven’t seen any account statements?” Answer: […]
Trump is ‘not a big supporter’ of using 401(k) funds to purchase a house, and financial advisors agree.
Trump Responds to 401(k) Proposal for Homebuyers Last week, President Donald Trump expressed his disapproval of a suggestion from one of his economic advisors, which proposed allowing Americans to dip into their 401(k) savings for home down payments. This idea has also met resistance from several financial advisors. During a conversation with reporters on Air […]
Why Trump’s proposal for using 401(k) funds for mortgages probably wouldn’t reduce expenses
Housing Crisis and Regulatory Challenges The Trump administration’s recent focus on using 401(k) retirement savings to help with home buying is facing skepticism from economists. They argue this approach might overlook the real issues contributing to the housing crisis. Experts have identified two primary factors harming the housing market: restrictive zoning and regulatory policies. These […]
Donald Trump shows reluctance towards the 401(k) home down payment idea.
Trump’s Skepticism on 401(k) Withdrawal for Homebuying President Donald Trump expressed his reservations on Thursday regarding a proposal that would let future homebuyers tap into their 401(k) retirement savings for down payments. Speaking to reporters aboard Air Force One during his return from the World Economic Forum in Davos, Switzerland, he remarked, “I’m not a […]