The Savings Millennials Have in Their 401(k) Plans and Its Significance
Important points Fidelity projects that the typical 401(k) balance for Millennials, aged 29 to 44 in 2024, will be around $67,300, with a contribution rate of 8.7%, which is the second lowest among generations. Transamerica Retirement Research Center’s findings suggest that the median retirement savings for Millennials is even lower, at $65,000, indicating that half […]
What Is the Typical 401(k) Withdrawal Rate for Retirees in 2025?
Recent research shows that about 25% of retirees don’t utilize their retirement savings within the initial five years after retiring. This raises questions about financial habits post-retirement. Interestingly, married retirees tend to withdraw around 2.1% from their retirement accounts annually, while single retirees withdraw even less. Most of their expenses are often covered by guaranteed […]
Older employees may use their 401(k) funds to purchase annuities, according to a bipartisan proposal.
Proposed Legislation for Retirement Savings In an effort to enhance the availability of guaranteed retirement income for 401(k) investors, Congress is considering a bipartisan bill that would enable certain workers to purchase off-plan pensions using their retirement savings. The Retirement Simplification and Clarification Act (HR 6324) would permit employees aged 50 and older to roll […]
Where do I go from here? My 401(k) has dropped by 23% recently and now I have just $200K. What mistakes did I make?
My 401(k) has dropped to about $200,000 and lost around 23% over the last few years. I’m trying to recover my losses, but my employer isn’t very supportive. Where can I get assistance? What should I consider? Is this situation normal? Robert Johnson, a certified financial analyst and finance professor at Creighton University, notes that […]
Implications of NASDAQ relocating to Texas for employment and 401(k) plans in San Antonio
Texas Poised as a Financial Hub with Nasdaq Office San Antonio – Texas might be stepping into the spotlight of the financial sector, as Nasdaq has announced plans to establish a regional office in the state. This initiative aligns Texas with the New York Stock Exchange and the proposed Texas Stock Exchange, a development that […]
New regulations allow for penalty-free early 401(k) withdrawals, but an advisor suggests the new uses may not be feasible.
New Rules Allow Withdrawals from 401(k) for Long-Term Care Insurance Workers now have a new option to plan for unpredictable health-related costs during retirement. Recent changes to 401(k) plans permit participants to make limited, penalty-free withdrawals to fund long-term care insurance. This insurance helps cover costs associated with daily living assistance, like bathing, dressing, and […]
Choosing between 401(k), Social Security, or a pension? The sequence you pick can lead to financial stability or trouble. Make the right decision in 2026.
Understanding Retirement Income and Taxes For many, Social Security serves as the foundation for retirement. A study from The Senior Citizens League in 2024 revealed that government benefits provide over half of the total income for 67% of older adults. However, if you’re among the one-third of seniors who have significant income from sources beyond […]
How Does Your 401(k) Balance Stack Up Against the Average for Individuals in Their 40s and 50s?
age group average 401(k) retirement savings target shortfall 40s $162,143 $1,428,571 $1,266,428 50s $251,758 $1,428,571 $1,176,813 For those considering retiring early, these figures serve as a starting point, not a definitive goal. Thorough planning and saving beyond the usual expectations can greatly influence whether you run out of funds or enjoy a comfortable retirement. Access […]
From Nothing to $23,500: Ways to Fully Utilize Your 401(k) Contributions
Important points To fully benefit from your 401(k), a significant savings rate is generally needed; building up over time is beneficial. Key moments like a raise or a job change can be ideal times to boost your contributions without straining your budget. Reaching an income milestone, such as $150,000, often makes it easier to maximize […]
Withdrawing from a 401K. Returning to work. Concerns about ACA expenses for the self-employed.
Updated December 11, 2025 at 10:30 a.m. ET Krisa Ostenzo anticipates having to withdraw from her savings to afford her $1,500 monthly health insurance plan once the extended tax credits from the Affordable Care Act (ACA) run out next year. She and her husband managed an optometry practice in rural Wisconsin for 35 years until […]