Liz Weston: Selling off too much of your savings may leave you without enough for retirement
Dear Liz: We intended to keep saving for retirement until our mid to late 80s. Now, unexpected home repairs are coming up that could cost us tens of thousands. I’m wondering if I should take money out of my retirement savings and deal with the 22% tax hit, or maybe consider a home equity loan, […]
Retirees Discover That a $1 Million Savings at 62 Only Provides $29,630 in Actual Spending Power
Understanding Retirement Savings and Inflation Pressures The iShares Treasury ETF (TLT) has dropped by 31% in the last decade, while the S&P 500 (SPY) has seen an impressive rise of nearly 194%. This decline in TLT coincides with the increase in the 10-year Treasury yield, which surged from 2% to 4.30%. It’s becoming increasingly difficult […]
Ways for New Retirees to Increase Spending Without Endangering Their Savings
If you’ve recently retired or are about to do so, it’s definitely time to consider how best to use your savings. Why it matters: Researchers at Morningstar are providing insights for new retirees on where to begin. According to their latest State of Retirement Income report, the safe withdrawal rate for those retiring in 2026 […]
I run a pool business in Phoenix and contribute the maximum to my IRA annually. I believe a SEP could be a better option for retirement savings, but my CPA disagreed. Who is correct?
Question from a Small Business Owner A small business owner running a pool service in Phoenix, Arizona, inquires about their eligibility for a SEP IRA despite their CPA’s suggestion that they do not qualify. They mention contributing to an IRA up to the maximum amount annually and seek advice on this matter, having researched the […]
Cooking utensils for better health at home and cost savings
Cooking at home can actually be enjoyable, especially if you have the right equipment. Having the right tools not only saves time but also money when compared to frequently ordering takeout. So, if you’re looking to eat healthier or just want to whip up your favorite meals, consider exploring the options below. Original price: $9.99 […]
GSA provides $60 billion in savings for the federal government during Trump’s presidency
GSA Reports Significant Savings Under Trump Administration The U.S. General Services Administration (GSA) recently announced that, a year into President Donald Trump’s second term, it has managed to save taxpayers over $60 billion due to various reforms and efficiencies. This move aims to reduce the federal government’s real estate footprint while cutting down on bureaucratic […]
Trump administration suggests using 401(k) savings for home down payments
New Housing Plan Involves 401(k) Withdrawals The Trump administration has announced a housing initiative that would permit American workers to withdraw money from their 401(k) retirement accounts without facing penalties, specifically to purchase homes. Normally, individuals are not allowed to take early withdrawals from their retirement savings without incurring IRS penalties. However, this plan aims […]
The minimum savings required for retirement in New Jersey
January 17, 2026, 4:46 a.m. ET The start of the new year brings the usual challenges, particularly when it comes to the rising cost of living, which remains a significant issue in New Jersey. As one of the priciest states in the U.S., retirees are finding it increasingly important to prepare financially for their retirement […]
Initiative in a red state claims close to $1 billion in savings for taxpayers from DOGE
Louisiana’s LA DOGE Program Aims for Significant Savings Even though the federal Office of Government Efficiency has been mostly dismantled, Louisiana’s initiative, known as LA DOGE, is still operational and projected to provide nearly $1 billion in savings for taxpayers annually, according to official reports. A report from Governor Jeff Landry’s office indicates that LA […]
Donald Trump is set to reveal a home purchasing strategy using retirement savings.
Trump’s Plan for Retirement Savings in Home Purchases President Trump is preparing to introduce a plan that would enable Americans to utilize their retirement savings for down payments on homes. Kevin Hassett, Secretary of the National Economic Council, hinted at this initiative recently but didn’t offer many specifics. He mentioned that withdrawals from 401(k) accounts […]