With retirement savings on the rise, reaching a million-dollar balance is becoming more attainable for many. According to a recent analysis by Fidelity of over 48 million retirement accounts, including IRAs, 401(k)s, and 403(b)s, the number of individuals with million-dollar 401(k) balances has surged to a record high. In the second quarter of 2024 alone, … Read more
Maureen, a 66-year-old retired teacher, relies on a modest $1,601 monthly from Social Security to make ends meet. Though she has a 401(k), she is reluctant to draw from it, worried that she might exhaust her savings too soon. Throughout her more than 40 years in elementary and middle schools, Maureen cherished a special tradition … Read more
Financial services firm Empower’s March survey of 2,204 US adults revealed that the definition of wealth and happiness is rapidly shifting from earning money to valuing time. Around 63% of the survey respondents would feel wealthy if they got sufficient time with friends and family, and nearly 40% believe saving time is more important than … Read more
According to Fidelity’s Q2 2024 retirement analysis report, the number of 401(k) millionaires in the US reached another record high, 497,000, up from 485,000 in the preceding quarter. Fidelity attributed the steady growth over the last few quarters to an improving macroeconomic landscape and more 401(k) participants starting early and steadily contributing to the employee-sponsored … Read more
Retirement planning involves a lot of variables and requires a steadfast commitment to creating a corpus that can cover life’s unforeseen events and sustain your pre-retirement lifestyle for decades into retirement. The motivation to diligently contribute towards retirement investments is directly linked to an individual’s savings capability, which has stunted in recent years due to … Read more
Do you dream about living overseas when you retire? My husband and I like to talk about our ideal retirement spot. We both like the idea of a beach with mountains nearby. Oh, and he needs good sushi. I want culture and community. My friend Jill’s latest retirement obsession, meanwhile, is a small town in … Read more
Best-selling author and Bridesmaid for Hire founder Jen Glantz plans to retire as a millionaire and has been working to reach that goal for two years. Glantz understands it is a big task, given that she started savings for retirement in her early 30s. She chalked out a retirement plan that included contributing to a … Read more
It might surprise you to learn that the top 25 wealthiest people in America paid only $13.6 billion in federal income taxes between 2014 and 2018, despite their total income increasing by $401 billion during that period. This equates to a true tax rate of just 3.4%. Given that 2024 tax rates range from 10% … Read more
A woman living in Los Angeles with her husband was love-bombed into marriage only to find out the guy is planning to “bleed her dry” off her wealth. She told MarketWatch that she is planning her escape after five years and has a 401(k), $140,000 in a savings account, and owns a home she bought … Read more
American businessman and the author of “Rich Dad Poor Dad,” Robert Kiyosaki, indicated in multiple posts on X this month that the best time to “get rich” is approaching soon. He added that we must overcome a major crash in real estate, bitcoin, gold, and stock prices before markets start climbing for years in late … Read more
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