Tag Archives: retirement savings

There are times when you may find yourself short on cash to cover necessary and often significant expenses. This may include circumstances when you have unexpected medical bills and home repairs or you would like to help your child pay for graduate school or the purchase of a new home. While it may be tempting […]

A growing movement of investors aspires to work for shorter periods, supercharging their savings and investing during their early years and enabling them to retire at a younger age than the generations before them. This strategy, referred to as Financial Independence, Retire Early (FIRE), may sound like a good plan, but it can be challenging […]

As college graduates embark on their professional careers, they should consider the following savings strategies to help prepare them for a sound financial future. Like most things in life, the earlier you start planning and preparing, the more likely you will achieve your goals. Employer-Sponsored Savings Plans While retirement may seem like a long way […]

If you are turning 60 to 63 years of age in 2025 or later, you have a unique opportunity to supercharge your retirement savings with new, more substantial catch-up contributions. Background Historically, the tax laws cap the annual contribution limits to 401(k), 403(b) and other qualified retirement plans. They also provide additional means for individuals […]

You have many options when it comes to saving for retirement. You may contribute pre-tax dollars to a workplace 401(k) plan or traditional IRA, potentially reducing your current taxable income today and deferring taxes until you make required minimum withdrawals in retirement. Depending on your income, you may also put money into a Roth IRA, […]

Starting a small business can be an exciting venture for anyone seeking career and financial independence. However, the planning and processes required to achieve those goals can be daunting. Entrepreneurs must consider how they will make money today and save enough to ensure a successful retirement for themselves in the future. One option to consider […]

After years of diligent saving, you probably built a significant nest egg to afford a comfortable retirement, but that doesn’t mean you’re ready to put your feet up and coast through your golden years. Preparing for retirement requires having a plan in place to address your spending habits, rising healthcare costs, changing tax laws and […]

Effective Jan. 1, 2025, employers must ensure their workplace retirement plans comply with the latest provisions of the SECURE Act 2.0, which aims to improve taxpayers’ retirement savings and the costs and complexities businesses incur administering those plans. Since the law’s enactment, employers of all sizes have gained expanded tax credits for establishing employee retirement […]

Employer-sponsored retirement-savings plans, including 401(k)s and 403(bs), are critical for helping businesses attract and retain skilled employees. However, due to government regulations and annual contribution limits, these qualified plans restrict highly compensated employees’ savings opportunities and their ability to build enough wealth to maintain their standard of living in retirement. To bridge this savings shortfall […]

The IRS released the retirement savings plan contribution limits for 2025, raising the cap on pre-tax contributions to employer-sponsored plans, including 401(k), 403(b) and certain 457 plans. For individual retirement plan contributions, the annual limits remain unchanged. Employer-Sponsored Retirement Plans Employees may contribute up to $23,500 via salary deferral to their workplace 401(k), 403(b) and […]