Wouldn’t it be nice if every time you scored a good deal by shopping around and comparing prices, the savings you netted went straight into your retirement account? For some savers, this is already possible.
If you’re like the average American, retirement savings has you totally bummed out. The Employee Benefit Research Institute (EBRI) reports that 27 percent of Americans are “not at all confident” about having enough money for a comfortable retirement, and only 13...
Burton Malkiel wrote the book on index funds – literally -back in the seventies. “A Random Walk Down Wall Street” is still as relevant when it was first published and has been updated this year in the latest edition. Mint talks to him about what’s changed and why index funds are still an individual investor’s best friend.
The bees are buzzing, the flowers are blooming, now is the perfect time for some spring cleaning: roll over that old 401k, dump those high-expense bond funds, and streamline your asset allocation so you can see through the clutter and know where you stand.
What is a 401(k)? Before you roll your eyes in a “Sheesh, is there anyone who doesn’t know the answer to that one?” way, consider this: in 2009, Fidelity Investments found that less than half (44%) of eligible workers in...
How much are you paying in your 401(k)? Probably more than you think. The typical fees and charges assessed against the average 401(k) investor can be much higher than those of equivalent investments available outside a sponsored retirement plan.
On Jan. 1, 1980, 401(k) accounts became official. In the 30 years that followed, they’ve grown in popularity and usage, replacing defined-benefit pensions at many companies. But while 401(k)s can provide a comfortable retirement, they’re also far from perfect.
Even if your employer pays the 401(k) match in company stock, holding it for the long haul is one of the biggest mistakes you can make with a retirement plan. The reason is pretty simple: Even if you don’t own a single share of your employer’s stock, your financial exposure to the company is already huge — you work there!
This past week, the Obama administration outlined new federal rules to stimulate savings for retirement, particularly among lower income workers. President Obama pointed to the fact that in the last year Americans have lost over $2 trillion from their retirement accounts and not enough of us are contributing to our retirement plans in the first place. After looking at the average U.S. savings rate and low percentage of Americans with retirement accounts, it is easy to see why action was needed. We’ll take a look at the numbers and discuss what the changes could mean for you.