Money, Wealth & Power—A Daily Look at the Financial World
Roth IRAs are often pitched as the go-to retirement account for young workers in lower tax brackets. But take a closer look, and you’ll see plenty of high-income earners quietly using Roths to build long-term, tax-free wealth—despite earning too much to contribute the “normal” way. It’s not just about the account itself. It’s about how…
Federal regulators have spent the past year tightening the rules around 401(k) plans, and workers who fail to keep up risk losing tens of thousands of dollars in retirement savings to penalties, taxes, and forgone investment growth. From missed contribution limits and overlooked catch-up rules to early cashouts, hidden fees, and missed tax credits, eight…
Cautious retirees often want equity income without the stomach-churning swings that can come with broad stock indexes. Low-volatility dividend ETFs aim to smooth the ride while still delivering regular cash flow. The following three funds focus on quality companies, disciplined screening and defensive sector tilts that can help Retirement investors stay invested through market stress….
A bill introduced in the 119th Congress would create a new class of government-backed retirement accounts designed specifically for workers who lack access to an employer-sponsored 401(k) or similar plan. The legislation, titled the Retirement Savings for Americans Act of 2025, proposes an “American Worker Retirement Plan” held by the Treasury Department and paired with…
Retirees drawing down savings face a tightening set of competing pressures: bond yields have climbed well above the levels that defined the post-2008 era, life expectancies continue to stretch retirement horizons past 30 years for many households, and federal tax rules now force minimum withdrawals from retirement accounts starting at age 73. Together, these forces…
Middle-class retirees hoping to stretch their savings in the Sunshine State are running into a financial wall. Housing costs in Florida’s most popular retirement corridors are climbing faster than Social Security benefits can keep up, and the demographic profile of new arrivals is shifting toward wealthier households. For anyone planning a budget-conscious move south, the…
Federal agencies are sounding alarms about a surge in financial schemes draining retirement savings, with Americans over 60 reporting more than $3.4 billion in fraud losses in 2023 alone. From high-pressure annuity sales to botched tax calculations, five specific traps keep catching retirees off guard, and the pressure to fall for them is only intensifying…
Federal Reserve data shows that American households aged 65 to 74 who hold retirement accounts have stacked up a median balance of roughly $200,000, yet roughly 40 percent of older Americans still depend entirely on Social Security checks to cover their bills. That gap between what retirees have saved and how they actually fund daily…
Young workers born after 1996 are building retirement savings at a pace that defies the economic headwinds stacked against them, according to federal data on household balance sheets and spending patterns. Despite housing costs consuming the single largest share of American household budgets and real wage growth struggling to keep up, Gen Z participants in…
Suze Orman, the personal finance personality who built a media empire on retirement advice, has called $2 million in savings “nothing” and “pennies” for anyone planning to leave the workforce early. The remark, delivered during an interview on the Afford Anything podcast hosted by Paula Pant, set off a fierce debate about whether the popular…