When it comes to the baby boomers’ run of investing luck, timing has been on their side.
Decades of stellar stock-market returns produced by a series of bull markets that began in 1982 coincided with boomers’ prime working years and made their nest eggs grow.
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Failing to keep up with tax payments now could lead to an expensive surprise come next spring.
As of Oct. 1, the Internal Revenue Service is charging 8% interest on estimated tax underpayments, up from 3% two years ago. The increase is one of the many effects of rising interest rates.
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Roth vs. Traditional 401(k): Where to Put Your Money for Retirement?
A Retirement Tax Break That Ends the Fear of Outliving Your 401(k)
Millions of high-earning Americans are slated to lose a popular tax deduction starting next year.
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What to Do When Your Home-Insurance Policy Isn’t Renewed
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Many Americans dream of
saving $1 million for retirement. Most fall far short of that.The typical family’s 401(k) and IRA-type accounts come to less than half that goal in the years approaching retirement age, according to the nonprofit Employee Benefit Research Institute. Total household balances in retirement accounts for those 55 to 64 years old are $413,814 on average, according to its estimates based on 2019 data, the most recent available.
IRS to Make Largest Increase Ever to 401(k) Contribution Limit
