What is the average amount in a 401(k)? Retirement savings by decade
Typical Americans may not have as much saved for retirement as they think they need. People often question how their finances compare to others, especially regarding their 401(k) balances relative to age. The following table highlights the median 401(k) balances across various age groups: Age range Average 401(k) balance Median 401(k) balance 20s $97,440 $37,668 […]
Ashley Hinson declares candidacy for Iowa Senate position following Ernst’s retirement
Ashley Hinson Launches Senate Campaign in Iowa Republican Representative Ashley Hinson has declared her candidacy for the U.S. Senate, aiming to succeed GOP Senator Joni Ernst, who recently announced she would not run for reelection. “I’m running for the United States Senate,” Hinson stated during an appearance on a popular afternoon talk radio show in […]
The 4% rule has changed to the 4.7% rule, which is important for your retirement.
Understanding the Evolution of the 4% Rule for Retirement Thirty years ago, a financial advisor named Bill Bengen introduced what became known as the 4% rule, which surprisingly gained a lot of traction. The idea was relatively straightforward: during your first year of retirement, you should spend 4% of your savings, adjusting that amount for […]
Jeremy Lin announces his retirement after 15 years in professional basketball
The End of “Linsanity” Jeremy Lin has officially retired from basketball, sharing the news through an Instagram post on Saturday evening. “As athletes, we always know retirement isn’t too far off,” Lin noted. “Fifteen years in, I understood that this day would come. Saying farewell to basketball today has been one of the toughest choices […]
What steps can I take in my 20s to get ready for retirement if Social Security is no longer available?
Gathering Questions on Money and Finances We’re collecting your questions about finances, and every week, we get insights from familiar voices. Kylie Jones, 24, from Evanston, is worried about her Social Security benefits. Concerns About Social Security Christine Benz, director of personal finance and retirement planning at Morningstar, mentioned that worries over the reliability of […]
I returned from early retirement after purchasing an extravagant house I didn’t require. Here are the errors I made.
This essay reflects a conversation with Sam Dogen, a 48-year-old early retiree living in San Francisco, the author, and her stay-at-home father. Edited for brevity and clarity. I stepped into retirement in 2012 at the age of 34, and my wife joined me a few years later in 2015, retiring at 35. Since then, we’ve […]
Gen Z is tapping into their retirement savings, forgoing meals, and selling their possessions just to make ends meet, new reports reveal.
Spending habits among younger generations, especially related to platforms like TikTok Shop, can reflect some serious financial challenges. It’s like, in a way, they’re choosing to skip meals just to afford the latest trends or, well, the essentials. According to new findings from the Payroll Integrated 2025 Employee Financial Wellness report, a significant portion of […]
Seniors may outlive their retirement funds in these 41 states
Retirement Shortfalls for Older Americans A recent analysis reveals that older adults in 41 states could outlive their retirement savings. Many Americans express concern about their financial future after retirement, with worries about running out of money outweighing fears of health issues, according to a report from the Transamerica Center for Retirement Studies. The Average […]
Common misunderstandings about federal retirement benefits
The Human Resources Administration is predicting a surge in resignation applications due to a rise in federal employees using the Voluntary Early Resignation Agency (VERA) and the delayed Resignation Program (DRP). In a recent statement concerning new contracts aimed at updating the HR system, OPM noted an expected doubling of the backlog for resignation applications. […]
One in four adults in the UK are willing to invest in cryptocurrency for retirement, according to a survey.
About 25% of adults in the UK are considering incorporating cryptocurrency into their retirement plans, which hints at a growing potential for crypto within the UK’s extensive pension market. British insurer Aviva shared on Tuesday that a recent poll conducted with 2,000 adults revealed that 27% would be open to using crypto in their retirement […]