Average retirement account balances increased at the end of the fourth quarter from third-quarter levels.
While the popular guideline is a good starting point, inflation and rising interest rates are factors that change the game when it comes to retirement withdrawals.
The average decrease in total investment costs last year was 0.3%, according to the latest 401(k) Averages Book.
The Elder Planning Specialist Program is a 10-week online program that helps financial planners to meet the needs of aging clients.
While the legislation provides an attractive option for families who end up not needing the money in a 529 plan, it's not clear how many will be eligible to use it.
According to a Bloomberg survey, most respondents are optimistic they’ll move closer to their retirement goal by ending 2023 with more in retirement savings than at the end of 2022.
If a surviving spouse is collecting their own Social Security retirement or disability benefit when their spouse dies, or is not yet collecting Social Security, they will have to apply for survivor benefits.
The SEC has proposed using swing pricing and a hard close for share purchases to protect investors during market meltdowns. Critics warn changes could ruin mutual funds.
Even though investors can't access their accounts with bankrupt crypto lender Celsius Networks, they still owe taxes on the interest income they earned from the accounts last year.
The Portability Services Network, a group that includes Alight, Fidelity and Vanguard, aims to automatically transfer retirement plan account balances when workers who've saved less than $5,000 change jobs.
A survey by the Senior Citizens League shows a majority of older consumers remain skeptical that the 8.7% Social Security COLA for 2023 will keep pace with rising costs this year.
Statistics show the baby boomers have median retirement savings of just $144,000 — at a time when Americans keep living longer.
The American Securities Association had filed suit alleging that a DOL document improperly claimed that a one-time recommendation to transfer assets from a company plan to an IRA triggered fiduciary duty.
Fewer retirement plan participants took hardship withdrawals to meet their immediate financial needs, according to the report.
The firm would be one of several companies providing sustainable target-date funds in the US.
But the deal raises the possibility other firms may go after the Securian advisors; Cetera and LPL have faced off in the past over recruiting advisors amid an acquisition.
The target-date funds will invest in actively managed sustainable and ESG-focused exchange-traded funds managed by Putnam.
Prior to the expansion of state pension systems in the 20th century, it was only the rich who could reasonably expect comfortable leisure time at the end of their lives.
Passing down season tickets from generation to generation can get hairy. It’s often worthwhile to bring in an estate planner or attorney to make sure it’s a clean handoff.
When Walsh will officially step down has not yet been announced but Deputy Secretary Julie Su is expected to become acting head of the agency.
