The Investment Company Institute (ICI) has published a report underscoring the necessity of retaining the current structure of 401(k) and other defined contribution (DC) plans in the United States. The study, titled ‘American Views on Defined Contribution Plan Saving, 2024,’ indicates that nearly three-quarters of Americans view employer-sponsored retirement plans favorably. Among employees enrolled in […]

The IRS has released its annual tax inflation adjustments for the 2025 tax year, bringing changes to tax brackets and deductions. These updates aim to shield taxpayers from ‘bracket creep,’ which occurs when inflation pushes individuals into higher tax brackets without real income growth. Standard deduction increases will benefit many filers, with $15,000 for single […]

As retirement approaches, managing your portfolio becomes more complex. While younger investors may rely on simple strategies like target-date funds, retirees must take a more thoughtful approach. David Blanchett, Managing Director at PGIM DC Solutions, highlights three major financial risks that retirees should consider. The first is inflation, which erodes purchasing power over time. The […]

As retirement approaches for many older Americans, planning your finances isn’t just practical—it’s vital for your quality of life in later years. Many retirees have regrets that teach important lessons about Social Security, money management, and getting ready for life after work. By sharing their stories, retirees provide helpful advice on what they wish they […]

Managing Social Security benefits is an essential part of financial planning for retirees, individuals with disabilities, and survivors. This year, several changes will affect beneficiaries, including a cost-of-living adjustment (COLA), new income limits, and an updated payment schedule. Staying informed about these updates is crucial for maximizing benefits and ensuring financial stability. Key Takeaways Social […]

Retirement planning is critical to long-term financial stability. Many people struggle to maintain their standard of living without a consistent source of income. Thoughtful planning assists in managing investments, savings, and future costs, resulting in a safe and comfortable retirement. By planning early and strategically, individuals can avoid financial stress caused by rising living and […]

The right time to retire depends on financial and personal factors, with income timing being a key consideration. Retiring mid-year means income will come from both wages and retirement sources like pensions, Social Security, and investments, which can affect tax rates. Careful planning can help reduce tax burdens and ensure a smooth transition. Social Security […]

According to the latest Federal Reserve data, American households between 55 and 64 have a median retirement savings of $185,000. For those willing to live modestly and rely heavily on Social Security, this amount could be enough to retire. However, having investment strategies can help seniors increase their financial security in their later years. Retirement planning […]