Insights

Matt Kory, Vice President, Retirement Programs As a retirement income vehicle, the 401(k) is second in popularity only to Social Security – and as CNBC reported in 2019 the number of 401(k) millionaires is at an all-time high. But is a million dollars even enough for your retirement needs? 

Multiple retirement savings vehicles are available but having options can be overwhelming. Each option comes with different rules leading to a variance of outcomes in the short-term and long-term. It’s not that dissimilar to choosing what to eat.

It’s time to go back to the basics. Find answers to your most commonly asked questions on defined contribution plans and IRAs so you can make informed decisions about your retirement plan.

When it comes to saving for retirement, people often ask their financial advisor, “How much should I have saved in my 40s?” Let’s take a look at where you should try to be with retirement planning during your 40s.

If you’ve ever engaged in a conversation about retirement and you heard the terminology of qualified vs. nonqualified but you had no clue what that meant – know you’re not alone! The following is a basic explanation of the difference:

Mike Valenti, CPA, CFP®, Director of Tax Planning Qualified retirement plans – such as 401(k)s, 403(b)s and IRAs – offer clear tax advantages. Traditional 401(k)s, 403(b)s, and IRAs offer a tax deferral on contributions and growth until distribution. Their Roth counterparts can provide an i …

By Jamie Hopkins, Managing Partner, Wealth Solutions   The SECURE 2.0 Act has passed, making it the largest retirement legislation since the original Secure Act hit in the late 2019.

When it comes to saving for retirement, people often ask their financial advisor, “How much should I have saved in my 30s?” Let’s take a look at where you should try to be with retirement planning during your 30s.

Wondering when you should start saving for a home or even begin a retirement savings plan? Start saving in your 20s will and get the gift of time and compounded interest.

By Craig Lemoine, Ph.D., CFP®, Director of Consumer Investment Research “How much do I need for retirement?” It’s a question I often hear, and one that seems straightforward enough to tackle. Unfortunately, the answer isn’t quite so simple.

Many investors contribute to an account like an IRA or a 401(k) to take advantage of tax benefits as they save for their retirement. However, you cannot keep your funds in them indefinitely.  Once you reach a certain age, many types of retirement accounts require you to take a minimum withd …