Below are three retirement facts about women in the workforce we thought you would find interesting. Half of women ages 55 to 66 have no personal retirement savings, compared to 47% of men. In a Bank of America survey, the majority of women report they are doing well managing their day-to-day finances but are struggling…
Benefits of a Roth IRA Conversion Tax-free growth and withdrawals. When withdrawals from a Roth IRA are taken after 59 ½, they are free from Federal income taxes as long as the account has been open for five years or longer. You can also withdraw money penalty-free for a first-time home purchase or college expenses….
Looking for a way to get on track with your retirement savings? For those 50 and older, a great way to add to your savings is a catch-up contribution. Employee Catch-up Limits Effective January 1, 2022: 401(k), 403(b), 457 plans – $6,500 in addition to the $20,500 annual contribution limit SIMPLE 401(k)/IRA – $3,000 in…
The pandemic has had a profound effect on many employees. Many Americans wanted to explore new career opportunities that offered more money, flexibility, and often a shorter commute, while many others simply chose an early retirement. In fact, of the 5 million people who left the labor force during the pandemic, 2.5 million people retired….
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