Some pension plans let retirees choose between smaller lifelong income payments or a large lump sum. If one or both spouses are in line to receive pensions, a couple should at least explore some of the possibilities for lump sum investment.
Since its inception in 1980, the 401(k) plan has become a key tool in helping Americans build wealth. In fact, the number of people who have become millionaires through their 401(k) plans reached 537,000 in 2024, a 27% increase from 2023. The SECURE 2.0 Act, passed in 2022, introduced new features designed to make 401(k)s even more appealing to workers. The following features are optional for employers, and while some have been adopted, others have yet to gain traction. Emergency access In most cases, early withdrawals from 401(k) plans are subject to ordinary income tax and an additional 10% early...
The U.S. stock market started 2026 on a strong note, with major indexes hitting record highs. Despite mixed corporate earnings and ongoing uncertainty around fiscal policy, the market showed resilience. All major benchmarks ended January in...
With Americans contributing about $592 billion to charitable...
Veteran investors and insiders have always harbored a bit of skepticism...