Listeners tell me they’re not worried, they’ll have their Social Security, but Social Security was never intended to be your only source of income in retirement.
The average 401(k) balance came in at $80,600 at the end of the second quarter of this year (2013) according to a report released by Fidelity, which represents 12.4 million U.S. workers.
Workers over 50 can contribute an extra $5,500 this year to their 401(k), 403(b), 457.
Sixty percent of employers offer some sort of retirement plan but only about fifty percent of employees take advantage of the plans offered.
Looking for a tax shelter? The best way to beat taxes is by investing in your retirement plan.
Honor Dad this Father’s Day….Get his estate in order.
In doing research on Dumb Money Moves I found a great list in a CNN article.
My wife and I both turn 40 this year. We have about $300,000 saved in our retirement plans.
Almost all 401(k) plans and some 403(b) and 457 plans allow the participant to borrow from their plan.
According to a survey done by Merrill Lynch over 75% of Boomers plan to work in retirement.