Bad habits — we all have them. Some are worse than others, and some can wreak havoc on your finances. You might be doing things with your money again and again that are keeping you in a financial rut. And that financial rut can have a long-term impact on your overall financial health. If you [...]
For parents who want to help their children pay off loans, a note of caution A growing number of parents appear to want to help, as young-adult children struggle to pay off debt in an era when wages are not growing and rents are high. But parents need to be careful not to jeopardize [...]
Here are a few tips on how to keep your 401(k) working for you. As more workers plan to continue working later in life, at more organizations, the ability to preserve their nest egg and keep it growing when they leave their current company is more important than ever. Here ís an easy-to-understand guide to [...]
For many defined contribution (DC) plan sponsors, offering target date funds1 as a qualified default investment alternative (QDIA) has become almost expected. A target date fund invests based on a particular date, such as the year of a participant’s projected retirement. For many defined contribution (DC) plan sponsors, offering target date funds1 as a qualified [...]
Employee participation and deferral rates in America’s qualified retirement plans remained strong in 2015. In fact, participation was up 5% from 2010, and average salary deferrals were nearly 7%. These trends show marked improvement in defined contribution (DC) plan uptake by U.S. workers, thanks to plan sponsors who’ve implemented plan designs intended to help improve [...]
The location decision should go beyond financial considerations of cost of living and taxes One of the natural consequences of baby boomers getting older is an intense interest in exploring new living options. In 2020, some 71 million Americans will be 55 or older ¬– the time when most begin to think seriously about when [...]
The table has been beautifully set and the aromas from the kitchen are so alluring. The wine is chilling and the flowers in the centerpiece are both exquisite and pungent. You’re all ready to sit down and enjoy, but something is missing. You’re not hungry. Even though we design the most technically competent retirement plans, [...]
Working in the "gig economy" can make it tougher to stay on top of saving for retirement. Four in 10 self-employed workers don't have a retirement account such as an IRA or 401(k) plan, according to a new survey from Small Business Majority, an advocacy group. They polled 500 self-identified contractors, freelancers and temporary employees [...]
Like most investors, you may be concerned about outliving your money.. To sustain your savings during retirement, consider strategies that may help address the following four money-diminishing factors: Longer life expectancies In May 2016, scientists attended a Harvard conference to discuss a groundbreaking new idea — fabricating a human genome from scratch. Using a gene-editing [...]
Eighteen years ago, the retirement industry rolled out automatic enrollment to help combat employee inertia, increase participation in workplace retirement plans, and foster higher savings rates. Still, a surprising number of plan sponsors don’t offer it. However, employees say they value defined contribution plans, and they desire automatic enrollment and escalation features. A recent survey [...]
