FOX Business is exploring the disappearance of pension plans in the contemporary job market. The reasons for the scarcity are due to the rise in individual retirement needs.
The IRS has announced new contribution limits for 401(k) plans, as well as an ammendent to IRA catch-up contribution limits, both of which can help workers reach their retirement goals faster.
The Great Recession diminished the retirement savings potential of late Boomers, a study found. And cost adjustments to Social Security could be smaller next year.
More Americans are making hardship withdrawals from their 401(k) retirement plans to cover emergency expenses as they struggle with chronic inflation.
A 401(k) loan can help you pay off debt, but it can harm your retirement savings and become a repeat move depending on various factors, one study found. Here's what to know about 401(k) loans.
Roughly 16,000 workers made hardship withdrawals from their 401(k) accounts in the second quarter, marking a significant increase from the previous quarter, BofA said in a report.
The number of retirement millionaires jumped in the second quarter. Those with million-dollar 401(k)s rose 10% and those with million-dollar IRAs climbed 13%, according to Fidelity.
More Americans are making hardship withdrawals from their 401(k) retirement plans to cover expenses as they struggle with chronic inflation.
Workers are realizing it takes years of planning to shape up their nest egg for a comfortable retirement, and they’re counting on their 401(k) to help them reach their goals.
Regularly review your expenses and income needs, withdrawal strategy, beneficiaries, health care proxy, will and trust to ensure your plan meets your current needs.
New Vanguard data released Thursday shows that 401(k) balances plummeted in 2022, primarily due to the "decrease in equity and bond markets" over the year.
Most financial professionals recommend you contribute your bonuses to your 401(k). But many Americans don’t get bonuses or have 401(k)s. Here’s what you can do.
Retirement and 401(k) savings posted an increase in this year's first quarter, with Generation Z and Baby Boomers leading the way, according to a recent study from Fidelity Investments.
Automatic enrollment into a workplace savings plan could help close the gap for Black and Latino employees that might otherwise have lower plan participation rates, according to a recent Voya Financial study
High costs pushed 25% of cash-strapped Americans to cut retirement savings, according to a recent TIAA Institute survey.
Almost half of Americans have withdrawn funds from their 401(k) plans after leaving jobs, with some completely draining their balances. But doing so before reaching retirement age can trigger taxes and penalties. Here’s what you need to know.
A new Vanguard report showed an increasing number of American workers participating in retirement plans and saving more money, but Gen Z is "better prepared" than the rest.
Americans contributed less to retirement in 2022 and nearly a quarter contributed 3% or less of their income to their 401(k)s.
Credit and debit card use on BofA brand cards rose 5.1% year-over-year annually compared to 2.2% the month before, the bank said.
After introducing a bill to kill Biden's ESG rule for retirement plans, Rep. Andy Barr is expecting bipartisan support to steer Americans' savings away from politics.