A retired manEmployees covered by company retirement plans are familiar with defined-contribution plans like 401(k), 403(b) or SEP-IRA accounts. A money purchase plan is another such employer-sponsored plan that can help you save for retirement. It is similar to these other accounts, except that the contributions are typically made by the company instead of the employee. In … [Read more...] about What Is a Money Purchase Plan?
America’s retirement savings system is deeply flawed—can it be fixed? Here are some ideas
America’s retirement savings system is a mess (that’s a technical economic term). “System” is actually too grand a word for the ad hoc retirement savings plan edifice that has been built up over years. To be sure, the system works reasonably well for those on the payroll of an employer with a retirement benefit plan and a relatively stable job. Employees at larger … [Read more...] about America’s retirement savings system is deeply flawed—can it be fixed? Here are some ideas
America’s retirement savings system is deeply flawed—can it be fixed? Here are some ideas
America’s retirement savings system is a mess (that’s a technical economic term). “System” is actually too grand a word for the ad hoc retirement savings plan edifice that has been built up over years. To be sure, the system works reasonably well for those on the payroll of an employer with a retirement benefit plan and a relatively stable job. Employees at larger … [Read more...] about America’s retirement savings system is deeply flawed—can it be fixed? Here are some ideas
Follow through on your financial goals with these simple tips!
money taalkOn this episode of In The Know: Money with Marsai Martin, we explore how to set achievable financial goals. PopCom founder and CEO Dawn Dickson talks to Marsai about strategies for setting financial goals and why reaching those goals might be easier than you think!Before delving into the best strategies for setting and achieving financial goals, Marsai asks Dawn to … [Read more...] about Follow through on your financial goals with these simple tips!
How to Become a 401(k) Millionaire
Africa Studio / Shutterstock.comEditor's Note: This story originally appeared on SmartAsset.com.The number of 401(k) and IRA millionaires reached an all-time high in the first quarter of 2021, according to Fidelity Investments. Retirement account balances have been steadily recovering in the year since COVID-19 first emerged, even surpassing pre-pandemic levels. Today, more … [Read more...] about How to Become a 401(k) Millionaire
4 Moves to Ensure You’re a Retirement MultiMillionaire
When it comes to solid financial planning, the truth remains that you'll reap huge benefits by doing a few key things correctly. You don't need to be a perfectionist or a fortune teller, but you do need to take some basic actions as soon as possible to put yourself on the right long-term track. Here we'll explore some of these actions that anyone can do -- or at least begin to … [Read more...] about 4 Moves to Ensure You’re a Retirement MultiMillionaire
The Right Retirement Plan: Do I Choose a Traditional or Roth 401(k)?
My friend Abby recently finished her graduate degree and just started a new job as a business analyst. After reviewing her company’s employee benefits package, she called to ask two specific questions: What is the difference between a traditional and Roth 401(k) plan? And which one is best for her?As 2021 graduates begin to enter the workforce, many others change jobs, and more … [Read more...] about The Right Retirement Plan: Do I Choose a Traditional or Roth 401(k)?
Answers to Questions About Stocks
In this episode of Motley Fool Answers, Motley Fool senior analyst Jason Moser joins us to answer your burning questions about stocks! Including dividend stocks, spicy stocks, stocks about to be acquired, and more. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing … [Read more...] about Answers to Questions About Stocks
Does 401(k) income count against your Medicare premium?
Q. Does 401(k) income count against your Medicare premium?— UnsureA. The calculation of Medicare premiums is important to understand.Let’s start with the basics.Medicare insurance is divided into three primary sections.Part A, hospital insurance, is free and covers hospital stays, care in a nursing facility and some home health care, said Claudia Mott, a certified financial … [Read more...] about Does 401(k) income count against your Medicare premium?
Third Circuit Dismisses ERISA Excessive Fee Complaint
Recently, the United States District Court for the Western District of Pennsylvania granted a Motion to Dismiss, dismissing ERISA breach of fiduciary duty claims based on excessive recordkeeping fee allegations. The district court addressed the level of detail plaintiffs must provide to move an ERISA breach of fiduciary duty recordkeeping fee allegation … [Read more...] about Third Circuit Dismisses ERISA Excessive Fee Complaint