Capitalize, a startup focused on automating 401(k) rollovers, raised a $19 million Series B led by existing investor RRE Ventures. The big picture: Amid an increase in job-hopping and an aging population, 401(k) rollovers have become a big opportunity for financial firms. Context: Rollovers have turned IRAs into a larger part of the retirement pie for […]
Many Americans struggle with emergency savings. It’s hard to even get started, let alone to amass the three to six months of household expenses we are instructed to save. Investopedia, the financial media site, has a new report that sheds light on how much emergency savings we really need. The good news: We now have […]
Some Americans will receive two Social Security payments in August, a rare occasion that is the result of a quirk in the system. Typically, the Social Security Administration (SSA) sends out one payment each week, delivering Social Security checks on the second, third and fourth Wednesdays of each month. Then it pays Supplemental Social Security […]
A lot can change in a short time that could impact the 2025 Social Security COLA. Two months. That’s roughly how long retirees must wait for important news that impacts them financially. I’m referring, of course, to the mid-October announcement of the 2025 Social Security cost-of-living adjustment (COLA). Currently, Social Security benefits are projected to […]
One of the biggest decisions you’ll make in retirement is when to claim Social Security. Claiming early gives you more years to collect a monthly benefit. Waiting until later means you’ll eventually receive a bigger check every month. While common personal finance advice is to wait as long as possible to claim Social Security benefits, […]
No one can deny that Social Security is insolvent and faces large deficits over the next decade that will impact Social Security benefit payments for millions of recipients across the country. Vice President Kamala Harris and former President Donald Trump have both declared they won’t touch the program, despite decades of denial. Trump intends to increase insolvency by […]
Recent volatility in the stock market has spooked many retirement savers, but experts say it’s important to stay calm and avoid rash decisions. Trading activity in 401(k)s surged Monday, spiking to more than eight times the average daily volume, according to Alight Solutions 401(k) index, which tracks more than two million 401(k) participant accounts. It […]
For 89 years, Social Security has provided income protection to millions of retirees, people with disabilities, their dependents, and families who’ve lost a wage earner. Social Security benefits have been a key element of federal employees’ overall retirement package since the creation of the Federal Employees Retirement System in 1986. Switching to the three-part FERS […]
Former President Donald Trump this week repeated his plan to eliminate taxes on Social Security benefits for seniors. But the plan could deplete Social Security and Medicare trust funds sooner, policy experts say. The Republican nominee called for “no tax for seniors on Social Security” during a “Fox & Friends” interview Wednesday and during a […]
In the ever-changing job market, you’ll likely switch jobs several times during your career. It’s also likely that some of these professional changes will involve deciding what to do with your 401(k). This may seem like a trivial matter, but how you treat this investment decision can have a major impact on your future finances. […]
For individual investors, the quick-turn global rout in stocks on Monday was unsettling, despite news Tuesday that stocks staged a rally. Also unwelcome: Expectations that volatility will continue for the foreseeable future. Investment strategists at retirement investment advisory firm TIAA expect it to last at least through the presidential election, said Doug Ornstein, a director […]
Everyone has their own money goals. Some people want to live completely debt-free, whiles others are OK taking on a few mortgages in pursuit of a real estate empire. Plenty of people want to retire as soon as possible, whereas others are comfortable working until a more typical retirement age. But regardless of what your ultimate money goals are, it’s […]
