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from24/7 Wall St.
4 days ago

401k Catch-Up Rules Changed for Workers Earning Over $150,000 This Year

The age when you must start withdrawing from your 401(k) has shifted upward twice in recent years. What was once 72 became 73 in 2023, and will rise again to 75 in 2033 for younger savers. Each additional year of deferral allows your balance to compound tax-free longer, potentially adding tens of thousands in growth for workers with substantial savings.
US politics
Retirement
from24/7 Wall St.
5 days ago

Dave Ramsey Says This Retirement Strategy Is "Extra Gravy on the Biscuit"

Take full advantage of employer 401(k) matches by contributing at least up to the match, treating employer contributions as extra retirement savings when affordable.
Retirement
from24/7 Wall St.
6 days ago

Dave Ramsey On Roth vs. Traditional 401(k)

A Roth 401(k) requires paying taxes on contributions now, enabling tax-free withdrawals of both principal and investment growth in retirement.
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US politics
from24/7 Wall St.
4 months ago

I'm terrified my dad will face a huge tax bill after he withdrew $200,000 from his 401k - What should I do?

Large 401(k) withdrawals are taxable and can increase tax liability, affect Social Security taxation and Medicare IRMAA; Roth 401(k) withdrawals avoid taxes.
Retirement
fromwww.theguardian.com
6 months ago

Born into crisis, gen Z is saving for retirement like no other generation | Gene Marks

Gen Z is leading in retirement savings, surpassing previous generations significantly in 401(k) contributions.
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