More and more Americans are retiring with 401(k) and IRA savings rather than pension benefits. Unlike pensioners, these folks must manage their savings throughout retirement. How long will that be? No one knows, but it could be 20 years or more. Financial professionals refer to this challenge as “longevity risk.” Fortunately, there is a way … Continue reading "Run Out Of Money? No Way."
It’s no secret that young Americans are managing an unprecedented amount of student loan debt. According to the Institute for College Access and Success, 45 million borrowers owe nearly $1.6 trillion in student loan debt, a 2 percent increase over last year. What is more concerning, however, is that this debt greatly impacts important financial … Continue reading "Retirement Savings Help for Student Loan Borrowers"
Last year’s SECURE Act paved the way for greater access to workplace savings plans. Now, Congress is focusing on ways to increase how much Americans save. Ways and Means Chairman Richard Neal and Ranking Member Kevin Brady have introduced the Securing a Strong Retirement Act of 2020 or SSRA. The bill is focused on increased … Continue reading "This Bill Would Help Americans Save For Retirement"
If the Setting Every Community Up for Retirement Enhancement (SECURE) Act was an engine empowering more people to save for retirement, then the Securing a Strong Retirement Act of 2020 (SSRA) is the rudder. The bill, introduced by House Ways and Means Chairman Richie Neal and Ranking Member Kevin Brady last week, will help steer … Continue reading "A Second Act for Retirement Security Policy"
The coronavirus pandemic and the resulting economic downturn has affected the finances of millions of Americans. Yet, saving for retirement is still the top priority for American workers. Building on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 which helped improve access to retirement security for American workers, House Ways & Means Committee … Continue reading "Securing The Path to Financial Security"