Various difficulties: My wife and I have elderly parents, only $29K in a 401(k), and are facing return-to-office requirements while living hundreds of miles away. We need assistance.
We’re a married couple facing the challenge of balancing our work obligations between Illinois and North Carolina. We rent in Illinois and have HSAs from both employers, along with a 401(k) with my wife’s job. I also have a 401(k) through my employer. We’re also aware of our aging parents, both in their 70s. After […]
Is an annuity right for your 401(k)? 6 financial experts discuss who benefits and who doesn’t.
Pensions in 401(k) Plans: A New Trend The SECURE 2.0 Act has opened doors for employers to include pensions in retirement plans for employees. Recently, Vanguard has started offering consistent payments to those enrolled in its 401(k) plans. This pension option lets workers allocate part of their retirement savings towards a pension, ensuring a steady […]
It’s becoming simpler to hold onto your 401(k) after retirement. Important information for those nearing retirement.
Deciding What to Do with Your 401(k) at Retirement When it comes time to retire, a critical choice for workers is what to do with their 401(k) savings. Should you keep the money in your employer’s plan, or roll it over into a personal account? Companies have begun to enhance their 401(k) offerings, making it […]
Changes to Trump’s 401(k) policy may significantly affect your retirement savings in 2026. Here’s what you should understand.
Changes to 401(k) Investments In August, President Donald Trump signed an Executive Order allowing for the addition of certain “alternative assets” in 401(k) plans. This includes options like private credit, private equity, and even virtual currencies, which could broaden the investment scope for Americans in their retirement accounts. Supporters see this change as a way […]
Fidelity clients lose access to their 401(k) accounts. Some view it as an astonishing takeover, while the company claims it’s for safety reasons.
As major investment firms and fintech platforms vie for access to customers’ retirement accounts, some clients are realizing that the “K” in their 401(k) might just stand for “Keep out.” This situation has intensified, especially after Fidelity enforced new rules that limit access to third-party advisors. Many users suddenly lost online access to their retirement […]
Having grown up in poverty, I tend to avoid risks. At 59, I have $575K in my 401(k), $350K in CDs, and $125K in cash. Am I in a good place for retirement?
After spending 27 years at a single company, I retired last December at the age of 59 and now have access to my 401(k). My salary has been roughly $100,000 annually, with bonuses that fluctuate. My husband is also retired and receives Social Security but still has insurance coverage. We own our home and car […]
Significant Changes to 401(k) Plans Under Review by Congress
Proposed Changes in Retirement Savings Legislation Congress is looking into a plan that could allow employees to transfer funds from 401(k) accounts to private pensions without needing to quit their jobs. This initiative, termed “tenure rollovers,” aims to provide a new way for Americans to save for retirement. The proposal was reintroduced in the House […]
That ‘free’ money in your 401(k) might not be yours just yet
For many individuals contributing to a 401(k), there’s often a company match involved. However, it’s worth noting that those matching funds might not be fully accessible right away. In certain cases, a person may need to stay with their employer for as long as six years to gain complete control of those contributions. This extended […]
What Will the Typical 401(k) Balance Be for Those in Their 60s in 2025?
Important points The average 401(k) balance for individuals in their 60s stood at $568,040 as of June 2025, whereas the median amount was significantly lower, at $188,792. Your retirement savings needs hinge on your lifestyle and anticipated annual expenses. A common guideline suggests saving eight times your pre-retirement income by age 60. You can enhance […]
Typical 401(k) and IRA balances reach all-time highs due to market gains in 2025.
Retirement Account Balances Soar in Third Quarter After a downturn in early 2025 due to market swings, retirement account balances hit new heights in the third quarter, as reported by Fidelity Investments, the leading provider of 401(k) plans. The average 401(k) balance rose by 9% year-over-year, reaching an impressive record of $144,400. Additionally, individual retirement […]