[MarketWatch, Getty/iStock] President Donald Trump is absolutely critical to keeping this bull market alive, according to President Donald Trump. Here’s his latest tweet on the matter: This is nothing new, of course. Trump’s presidential tweets have been rife with self-glorification ever since he took office. According to the Trump Twitter Archive, […]
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[The Motley Fool, Getty Images] In some cases, maxing out your retirement account could do more harm than good. If you’re aiming to supercharge your retirement savings, maxing out your 401(k) or IRA may sound like a smart move. As of 2020, you can contribute up to $19,500 per year to your 401(k) and […]
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[The Motley Fool, Getty Images] Pop quiz: How does a 401(k) actually work? You probably know that money comes out of your paycheck and goes into the account, that the government gives you a tax break on your contributions, and that the money grows over time to help cover expenses in retirement. […]
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[Forbes, Getty Images] Trump’s U. S. Department of Labor is pushing 401k sponsors to include the highest cost, highest risk, most secretive “private equity” investments ever devised by Wall Street in the retirement plans they offer to America’s workers. Chairman of the U.S. Securities and Exchange Commission Jay Clayton claims […]
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[MarketWatch, Getty Images] The crisis could blow a $60 billion hole in retirement plans It is insane that our tax-deferred retirement plans depend on our employers, and we’ve got yet more reasons to prove it. Sixty billion of them. That’s how many dollars that U.S. workers are likely to lose […]
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[MarketWatch, Getty Images/iStockphoto] Too much flexibility is dangerous, Jack Bogle warned In light of the continuing pandemic, Congress has temporarily changed the rules on hardship withdrawals from your 401(k). It’s easier to take money out penalty-free, up to $100,000, and you can pay it back and avoid the tax hit. […]
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[USA Today, Getty Images] My employer just cut our 401k match completely. They used to match 100% of our first 6%, but now they’re contributing absolutely nothing. I keep telling my wife that if they’re not gonna match, we shouldn’t put any money in either. Can you help me to […]
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[MarketWatch, Getty Images] To conserve cash, some employers are suspending contributions to their workers’ 401(k) accounts. And if this downturn plays out like previous recessions, more will follow. The handful of employers announcing suspensions in recent weeks include travel companies and retailers hit first and hardest by shrinking consumer demand, […]
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