Average 401(k) savings rates have reached all-time highs. Here’s how they stack up against common benchmarks.
Many retirement plans are maintaining high savings rates, particularly for 401(k) accounts, by simplifying the enrollment and contribution processes for workers. In 2024, the average savings rate for both employee contributions and company matches is projected to be about 12%, as indicated in Vanguard’s recent analysis of over 1,400 retirement plans involving nearly 5 million […]
New report reveals 3 IRA and 401K errors that might lead to significant losses.
Concerns Over Retirement Savings Do you have at least $200,000 saved through your IRA and 401(k)? If so, do you count on that for your retirement expenses? If you ever worry it might not be enough, you’re definitely not alone. A recent study from Allianz Life found that 64% of Americans fear running out of […]
Goldman reports that the ‘TINA trade’ is still strong, supported by 401(k) purchases.
Goldman Sachs Insights on Stock Market and “Tina” Trade Goldman Sachs has indicated that the stock market may further amplify the appeal of the “Tina” trade—an acronym for “There is no alternative.” This concept takes hold when investors feel there’s no reasonable option available outside of a certain asset, typically stocks. A prime example of […]
We are close to saving the right amount in our 401(k) retirement accounts. Here is the key figure.
Rising 401(k) Savings: A Closer Look Americans have made significant strides in saving for retirement through their 401(k) accounts in recent years. According to the latest Resignation Savings Report from Fidelity, a leading retirement planning firm, the savings rate for Fidelity 401(k) plans reached 14.3% in the first quarter of 2025. This figure marks a […]
Unnoticed 401(k) account fees can lead to significant losses in retirement savings for workers, report reveals.
401(k) Plans at Risk of Being Forgotten As job mobility increases among Americans, a lot of individuals are at risk of neglecting their 401(k) plans from previous employers, a recent study reveals. In 2023, there are approximately 29.2 million unclaimed 401(k) accounts, which marks a 20% increase from two years ago, according to a fintech […]
The amount of money Americans in their 30s have in their 401(k) accounts.
401(k) Contributions Remain Steady for American Workers in Their 30s American workers in their 30s appear to be consistently contributing to their 401(k) plans, even as market fluctuations have affected account balances this year. According to Fidelity, the largest retirement planning provider in the country, which oversees more than 24 million 401(k) accounts, the latest […]
Labor Department Allows Cryptocurrency in 401(k) Plans
The US Department of Labor has officially abandoned its 2022 guidance that cautioned against including cryptocurrencies in 401(k) investment options. This change could potentially open up billions in retirement savings for crypto investments. End of 2022 Guidance The guidance from March 2022 advised retirement plan trustees to exercise “extreme caution” before adding cryptocurrency options, effectively […]
Market fluctuations make some Minnesotans concerned about their 401(k) retirement savings.
Market Outlook and Retirement Concerns “It’s going to feel like a roller coaster,” Royal noted, adding that this year’s market reflects last year’s trends. This unpredictable atmosphere might challenge those planning their 401(k)s or depending on them for retirement income. Louen Sexton, 63, from Mendota Heights, retired from St. Thomas University in January and is […]
Coinbase CEO delivers a powerful message about 401(k) plans.
In his first interview since announcing that Coinbase would join the S&P 500 on May 12, CEO Brian Armstrong described this as a significant moment for both the company and the broader cryptocurrency sector. During the interview, he expressed his delight, stating, “I’m so happy to be included in the S&P 500. Now it means […]
401(k) leader to permit investments in private markets within its retirement accounts
More individuals saving for retirement are showing interest in incorporating private market investments into their portfolios. Empower, a major player in the 401(k) sector, will start permitting investments in individual credit, stocks, and real estate for some managed accounts later this year. The company announced a partnership with seven firms, including Apollo Global Management and […]