To be sure, 529 college savings plans already had a lot going for them.Now, thanks to "Secure 2.0," a slew of measures affecting retirement savers, they're about to be even more attractive.Starting in 2024, savers can roll unused money from 529 plans over to Roth individual retirement accounts free of income tax or tax...
Blackcat | E+ | Getty Images"I'm not a math person." "I'm not a numbers person." "I'm bad with money."Sound familiar?No, we're not recording you at home. As a wealth advisor, I hear statements like this all the time from women, regardless of their age.In fact, one of the most...
Halfpoint Images | Moment | Getty ImagesMany women already feel they are behind when it comes to being financially prepared for retirement.There's another risk they have to watch for: disruptive curveballs life throws at them that may put them off track, according to recent research from financial services firm...
After several interest rate hikes from the Federal Reserve, many have braced for stock market volatility in their 401(k) plans. But experts say some plans could face another risk: employer bankruptcy.Generally, your 401(k) is safe from creditors in the case of bankruptcy, based on protection from the Employee Retirement...
DusanManic | iStock | Getty ImagesAlmost half of Americans — 47% — say achieving retirement security will take a miracle, according to a new survey from Natixis Investment Managers.That is up "quite a bit" from about 40% of respondents who said the same two years ago, according to Dave...
Westend61 | Westend61 | Getty ImagesThanks to a law passed four years ago, borrowers with outstanding federal student debt are able to tap into any remaining 529 college savings plan funds they have to pay down up to $10,000 of what they owe.That may now be a particularly appealing...
Sporrer/Rupp | Image Source | Getty ImagesNew government inflation data points to a 3.2% Social Security cost-of-living adjustment in 2024, according to a new estimate from The Senior Citizens League.That would raise the average monthly retirement benefit by about $57.30, according to the nonpartisan senior group.The Senior Citizens League's...
Gasoline was priced from $4.29 a gallon at a fuel station in Virginia on Aug. 16, 2023.Anadolu Agency | Anadolu Agency | Getty ImagesInflation jumped in August on the back of higher gasoline prices, according to the consumer price index.But there's good news for Americans: That increase is likely...
Tipping 20% at a sit-down restaurant is still the standard in the U.S., according to most etiquette experts. Diners disagree.After holding steady for years, tipping at full-service restaurants fell to 19.4% in the second quarter of 2023, according to online restaurant platform Toast's most recent restaurant trends report, notching the lowest average since...
D3sign | Moment | Getty ImagesWomen spend more time than men providing unpaid care for children, older adults and other family members — time than can have a significant effect on their finances.Women spend an average 51.6 minutes a day caring for household children, other household members and nonhousehold...