The U.S. Department of Labor building in Washington, D.C. The Washington Post | The Washington Post | Getty Images Experience a Surge of Rollovers to IRAs In 2022, IRAs accumulated approximately $11.5 trillion, nearly double the $6.6 trillion in 401(k) plans, as reported by the Investment Company Institute. The Investment Company Institute also stated that …
According to data released by Bank of America, there has been an increase in the number of Americans resorting to their 401(k) plans for financial assistance. CNN reports that the banking giant witnessed a 36% surge in “hardship” withdrawals in Q2 compared to the previous year. In that quarter, 0.52% of all participants, roughly 15,950 …
Advancements in investment products and trading platforms haven’t altered long-standing investing fundamentals, according to neurologist and best-selling financial author William Bernstein. Bernstein, the author of the second edition of “The Four Pillars of Investing,” a classic investment guidebook, joined CNBC’s Bob Pisani on “ETF Edge” to discuss his insights. The first pillar of investing, according …
Is the incidence of poverty among elderly individuals too high? Let us consider this hypothetical scenario: What would be an acceptable poverty rate for seniors in America? According to the Organization for Economic Co-operation and Development (OECD), the U.S. has a higher poverty rate among individuals over the age of 65 compared to most other …
As Americans prepare to resume their monthly student loan payments and grapple with the Supreme Court’s decision against loan forgiveness, certain groups are exploring the potential for workplace solutions to aid borrowers. The Society for Human Resource Management (SHRM), representing HR professionals, has called on Congress and state legislatures to pass policies that benefit both …
Prostock-Studio | Istock | Getty Images When it comes to your 401(k), one of the important decisions you need to make is whether to make pretax or Roth contributions. However, experts say that this choice can be complicated. Pretax 401(k) contributions can lower your adjusted gross income, but you will owe taxes on the growth …