Job hopping is one of the best ways workers have to increase their pay, and a surprisingly solid job market means they still have opportunities. That’s great news for workers, but remember: Make sure you’re setting aside as much into your new 401(k) plan as your old one. When a worker moves to a new … Read more
Employers can leverage a shared database to ensure new workers receive better or at least the same default savings rates for retirement plans they were receiving from their previous employers. Sora Shimazaki/Pexels.com People who change jobs often might make more money than average in the long run. However, many of them experience opportunity costs that … Read more
A retired boomer receiving $1,662 in Social Security has moved in with roommates to help cover her medical expenses, stating that it’s the only way she can maintain a comfortable lifestyle. Marion, a 70-year-old single mother who raised two sons in Washington, often worked two jobs to provide for her family. Following a series of … Read more
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
A recent survey by Empower, a leading U.S. retirement company, reveals that nearly two-thirds of Americans believe the current economic climate will negatively impact their retirement plans. In a striking finding, 46% of respondents indicated they would be willing to forgo a raise or promotion in exchange for enhanced benefits from their employer. Interestingly, remote … Read more
According to the 2024 BlackRock Read on Retirement report, sixty per cent of Americans across all generations worry they’ll outlive their retirement savings. Retirement is a profoundly personal journey, but many of the challenges workers encounter are shared experiences. The perspective on retirement can vary significantly between those just starting their careers and those nearing … Read more
In a Quora post titled “What’s a thing elderly people regret in their lives?”, former electronics engineer Alan Dyson offers a surprising perspective. While many might expect regrets about missed adventures, Dyson highlights a different source of regret for some: “having children.” In his post, Dyson states, “my biggest regret was having children.” According to … Read more
