Latest Retirement planning News

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File)

Liz Weston: Who should consider a Roth conversion now?

Jan. 20, 2020 9:00 AM EST

If you’ve saved a lot for retirement, or your parents have, you could be affected by recent changes in the rules about retirement distributions. The recently enacted Secure Act eliminated the “stretch IRA,” a strategy used by affluent investors to pass tax-advantaged money to their heirs. The...

FILE - In this July 11, 2012, file photo, John Arensmeyer, CEO of the advocacy group Small Business Majority, poses for a portrait at the Small Business Majority office in Washington. The Setting Every Community Up for Retirement Enhancement Act, known as the SECURE Act, won final congressional approval in the Senate last month and was signed into law by President Donald Trump. One of the bill's features makes it easier for small businesses to band together to offer 401(k) and other retirement plans.“ Most small businesses simply don’t have the funds or staff to offer and manage retirement plans,” said Arensmeyer. (AP Photo/Jacquelyn Martin, File)

New law may encourage businesses to offer retirement plans

Jan. 6, 2020 3:25 PM EST

NEW YORK (AP) — A new law expanding retirement plan options for small businesses may encourage more companies to offer the benefits to their workers. The Setting Every Community Up for Retirement Enhancement Act, known as the SECURE Act, won final congressional approval in the Senate last month and was...

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File)

Liz Weston: Here's what bad financial advice costs you

Jan. 6, 2020 12:40 PM EST

Good financial advice leaves you better off. Bad advice does the opposite, and may even enrich someone else at your expense. Here are some areas where you need to be particularly careful to seek out good advice, since bad advice can be so costly. INVESTING Most financial advisers aren’t required to put...

FILE - In this Dec. 10, 2019, file photo, protesters march through smoke from flares at a demonstration during a mass strike in Marseille, southern France. Unions represent less than 10% of salaried workers but have a cozy, if paradoxical, relationship with officialdom that empowers them to block change. (AP Photo/Daniel Cole, File)

French unions behind strikes get public funds

Dec. 30, 2019 9:30 AM EST

PARIS (AP) — As France's strikes entered their 26th day Monday, some in the country are questioning if the labor unions that are driving the crippling stoppages have outsized power. The strikes have closed French landmarks, hurt small businesses over the Christmas season and hobbled public transportation....

FILE - This April 2017, file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. Uncovering an online lender’s true intentions is sometimes as simple as checking their website for a few key giveaways. Knowing how to spot a predatory loan can keep you from slipping into a debt trap. (NerdWallet via AP, File)

Liz Weston: How to create a retirement 'paycheck'

Dec. 23, 2019 1:20 PM EST

Your expenses don't end when your paychecks do, but creating a reliable income stream in retirement can be tricky. The right choices can result in sustainable income for the rest of your life. The wrong choices could leave you uncomfortably short of cash. In fact, retirement includes so many important,...

Senate OKs big changes to how Americans save for retirement

Dec. 19, 2019 5:03 PM EST

A major change to how Americans save for retirement is close to becoming law. The Senate on Thursday passed the Secure Act as part of its massive spending package. The House passed it earlier this week and it now heads to President Donald Trump, who is expected to sign it into law. The Secure Act — which...

High-speed trains are pictured at Gare du Nord train station in Paris, Wednesday, Dec. 18, 2019. With French President Emmanuel Macron under heavy pressure over his pension reform plans, government officials are meeting with employers and unions on Wednesday to consider the way forward. (AP Photo/Michel Euler)

French unions: Keep retirement strikes going through January

Dec. 19, 2019 2:29 PM EST

PARIS (AP) — France’s punishing transportation troubles may ease up slightly over Christmas — but unions plan renewed strikes and protests in January to resist government plans to raise the retirement age to 64. Talks between the prime minister and labor leaders failed to reach a compromise...

This undated photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. Companies are experimenting with employee emergency fund programs to help workers meet unexpected expenses. Some are even offering an employer match. (NerdWallet via AP)

Liz Weston: How to make your money biases work for you

Dec. 16, 2019 11:33 AM EST

The way our brains work can cost us a lot of money. But some of our mental quirks can be turned to our advantage. Cognitive biases are the faulty ways of thinking that can persuade us to run up debt, save too little and make stupid investment decisions. The bandwagon effect, for example, entices us to buy the hot...

FILE - This June 10, 2015, file photo shows a credit card in Philadelphia. While banking customers have likely heard of high-yield online savings accounts, less familiar is a relatively new product that has come into its own only this year: the cash management account. (AP Photo/Matt Rourke, File)

The high-interest account you’ve never heard of

Dec. 12, 2019 11:41 AM EST

The average interest rate for traditional savings accounts today hovers around 0.09% — but consumers can earn 10 to 20 times more interest on their money by giving high-yield options a shot. While banking customers have likely heard of high-yield online savings accounts, less familiar is a relatively new...

A worker walks on a platform at the Gare Montparnasse railway station, in Paris, Wednesday, Dec. 11, 2019. After hundreds of thousands of angry protesters marched through French cities, the prime minister is expected to unveil proposals that might calm tensions on the 7th straight day of a crippling transport strike. (AP Photo/Thibault Camus)

French government raises retirement age as strikes grind on

Dec. 11, 2019 3:28 PM EST

PARIS (AP) — France's prime minister said Wednesday that the full retirement age will be increased for the country's youngest, but offered concessions in an ill-fated effort to calm a nationwide protest against pension reforms that critics say will erode the nation's way of life. The government is trying...