401k

401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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How to Decide Whether to Roll Over an Old 401(k) or Leave It Alone

Despite signs of a slowing job market, Americans — especially younger people — continue to change jobs. According to a recent Prudential Pulse survey, about a third of millennials have changed jobs since the pandemic began. Among Gen Z workers, almost half have changed employers and 18% have experienced more than one job change during …

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Retirement savers are looking for safe havens in their 401(k) plans.  They may regret it later

Retirement savers are looking for safe havens in their 401(k) plans. They may regret it later

Yongyuan | E+ | Getty Images The data suggests that some savers are looking for safe havens in their 401(k) plans. But this decision could hamper these long-term investors; in fact, he may have done so last month. Investors sold target date funds and large-cap U.S. equity funds in October in favor of “safer” funds, …

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How much should you contribute to your 401(k)?

401(k) contribution matches could be scrapped in a recession

In past recessions, many companies seeking to cut costs and potentially avoid having to lay off workers have suspended 401(k) matches. During the last recession, Ascensus, a pension plan administrator, said 21% of employers using its 401(k) services suspended their contributions from March to September 2020, the Wall Street Journal reported. Vanguard reported a much …

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I'm a 61-year-old flight attendant who wants to retire at 70.  I'll have a pension of $900 a month and I'll be on Social Security, but I only have $150,000 in my 401(k).  Should I get professional help?

I’m a 61-year-old flight attendant who wants to retire at 70. I’ll have a pension of $900 a month and I’ll be on Social Security, but I only have $150,000 in my 401(k). Should I get professional help?

This flight attendant seeks financial help from an advisor, but how do you choose the right one? Getty Images Question: I think I need a financial advisor. I’m 61 and plan to retire at 70. I am a flight attendant and will receive a pension of just over $900 a month. I have a 401(k) …

I’m a 61-year-old flight attendant who wants to retire at 70. I’ll have a pension of $900 a month and I’ll be on Social Security, but I only have $150,000 in my 401(k). Should I get professional help? Read More »

I'm a 61-year-old flight attendant who wants to retire at 70.  I'll have a pension of $900 a month and I'll be on Social Security, but I only have $150,000 in my 401(k).  Should I get professional help?

I’m a 61-year-old flight attendant who wants to retire at 70. I’ll have a pension of $900 a month and I’ll be on Social Security, but I only have $150,000 in my 401(k). Should I get professional help?

This flight attendant seeks financial help from an advisor, but how do you choose the right one? Getty Images Question: I think I need a financial advisor. I’m 61 and plan to retire at 70. I am a flight attendant and will receive a pension of just over $900 a month. I have a 401(k) …

I’m a 61-year-old flight attendant who wants to retire at 70. I’ll have a pension of $900 a month and I’ll be on Social Security, but I only have $150,000 in my 401(k). Should I get professional help? Read More »

Here are the pros and cons of owning cryptocurrency in your 401(k) plan

Here are the pros and cons of owning cryptocurrency in your 401(k) plan

Luke Chan | E+ | Getty Images Cryptocurrency is starting to appear as an alternative asset class in some 401(k) plans. Retirement savers may be wondering if it’s wise to invest. “Making this easy and accessible has both pros and cons [for investors]“said Douglas Boneparth, certified financial planner and founder of Bone Fide Wealth in …

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To automatically increase or not to automatically increase your 401(k) contribution rate

To automatically increase or not to automatically increase your 401(k) contribution rate

Over the past 30 years, there has been a significant revolution in the administration of 401(k) plans. Often referred to as auto-increase or auto-escalation, here’s how it works: if you’re automatically enrolled in a plan and don’t opt ​​out of the auto-increase feature, your rollover rate will increase over time, until the plan as much …

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