46% of retirees have no plan if retirement savings run out, nearly quarter of Gen Z doesn’t expect to retire
Almost half of retirees worry their money won't outlive them, and some generations worry about ever having enough to retire.
Americans are feeling more optimistic about the future of Social Security: survey
More Americans expect to get their Social Security benefits when they retire – in three prior readings, non-retirees were more inclined to predict they would not receive their benefits, a recent Gallup survey said.
Americans will pay $6.12 billion in penalties for early 401K withdrawals: survey
Americans can avoid paying hefty penalties and taxes on early 401(k) withdrawals by making these money-saving moves, a recent survey said.
Secure 2.0: optional provisions kick in to help retirement savers with emergencies and student loan debt
The Secure 2.0 Act of 2022 has several new optional provisions kicking in at the start of 2024, such as emergency savings and student loan matching.
12% of retired Americans plan to return to the workforce in 2024: survey
Some 12% of Americans said they planned to work again in the New Year, with 61% citing rising costs as the reason, a recent Resume Builder survey said.
Retirement savings are getting sucked up in a financial vortex: Goldman Sachs
U.S. workers have upped their retirement savings, but competing spending continues to challenge most from reaching their goals, a recent Goldman Sachs Asset Management (GSAM) retirement report said.
Retirement crisis: Great Recession takes its toll on younger Boomers
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.
Share of Americans borrowing from 401(k) multiple times rises
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.
Social Security cuts: Retirees could face more than $17,000 in annual benefits losses
Social Security could run out of money to make full benefits payments in 2033, spurring as much as $23,000 in benefits cuts for retirees, a study found. Here’s what you need to know.
Fear over Social Security's future pushes Americans to claim benefits early: survey
Most Americans understand Social Security, but concern over its future is pushing many to claim retirement benefits early, a recent Schroders survey said.
Retirement account balances increase for third straight quarter
Average 401(k) and IRA balances have risen for three straight quarters, Fidelity reported. But some savers face particular hurdles.
Social Security payments could rise 3.2% in 2024
The Social Security cost of living adjustment could increase to 3.2% in response to high inflation. But it’s far from the 2023 record raise and many Americans still struggle to generate retirement income.
Hardship withdrawals from retirement accounts increased in the second quarter: report
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.
Americans may be missing out on big retirement savings because of this one mistake
Americans have roughly $30 million in funds lingering in forgotten 401(k) accounts and could be losing out on valuable retirement savings, according to a recent report by Capital.
40% of Americans forced into early retirement: survey
Ninety-eight percent of Americans said that successful retirements are centered around preparation and planning, yet 40% are being forced into an early one, according to a recent Edward Jones survey.
Gen Xers face alarming retirement shortfall, study says
The typical Gen X household has saved less than what is needed to finance a secure retirement, according to a study from the National Institute on Retirement Savings.
Americans over age 55 plan to delay retirement: survey
Nearly two-thirds of working Americans who are at least 55 years old said they’ll delay retirement, a survey found. And those saving for retirement are doing so in a time of stubborn inflation and recession fears.
More than half of Gen Xers stopped saving for retirement, here's why: Survey
Many GenXers stopped saving for retirement because they couldn’t afford it, a Clever survey found. And about half have less than $100,000 saved for retirement. But there are many ways to save.
401(k) participation rates reach all-time high: Vanguard
401(k) participation rates have reached 83% this year, Vanguard said.
Social Security recipients could see a smaller benefits bump in 2024 - Here's what that means for retirees
The 2024 Social Security COLA could rise to 3%, according to a Senior Citizens League estimate. That would be a drop from the 2023 adjustment of 8.7%. But retirees have options to reach a comfortable retirement.