In a survey by BadCredit.org, 62% of respondents said that they would be willing to turn to unconventional living arrangements to save money. Respondents said that they would take steps such as moving back in with their parents or co-living with a former partner to alleviate financial pressures. Even more surprising, 27% of respondents said […]
Tag: Financial Planning
Retirement Plan Limits Rise in 2025: What You Need to Know
Your max contributions to 401(k) plans for 2025 increase to $23,500, up from $23,000 for 2024, according to the IRS. The tax agency also issued technical guidance regarding cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2025. The limit on annual contributions to an IRA remains $7,000. The […]
Effective Ways to Manage Inflation in Your Retirement Portfolio
The biggest threats to your financial stability in retirement include unrealistic budgeting, inflation, health care costs and living longer than anticipated. The first threat is, in some ways, the easiest to control. Be honest with yourself about how much you can spend in retirement. Just as when you were starting out, you need to account […]
SECURE 2.0: Deciphering New Retirement Plan Reporting Rules
The SECURE 2.0 Act aims to expand the ease of saving for retirement, to simplify the management of retirement plans, and in general to improve financial security for American workers and retirees. The updated law includes new options for 401(k) and 403(b) employer contributions, adjustments to required minimum distribution age for IRAs, and increased catch-up […]
Why Saving Now Sets You Up for Success Later
Payday will always be the best day of the week. All of our hours of work have finally (literally) paid off. But there’s so much to spend it on, too. The list includes food for the week, birthday and holiday presents for family, a little spending money for ourselves, and, of course, a seemingly infinite […]