Latest Retirement planning News

Millennial Money: Maximize your benefits to offset inflation

Nov. 01, 2022 08:56 AM EDT

Employee benefits are one of the most attractive things about a prospective job and can determine whether you take an opportunity or leave it. When you do decide to take the job, do you maximize the benefits? If not, you may be leaving money on the table. And in this time of high...

Liz Weston: What are your employee benefits really worth?

Oct. 31, 2022 09:04 AM EDT

Benefits make up more than 30% of the typical job’s compensation, according to the U.S. Bureau of Labor Statistics . But figuring out what your benefits are worth isn’t always easy. You may need to do a little digging to find how much your employer contributes toward health...

French leader vows to raise retirement age to 65, up from 62

Oct. 26, 2022 19:44 PM EDT

PARIS (AP) — French President Emmanuel Macron vowed Wednesday to implement a pension reform that would eventually push up the retirement age by three years to 65, making younger generations work longer. In an interview on France 2 television, Macron said the changes would start...

IRS raises contribution limits for retirement savings plans

Oct. 21, 2022 14:23 PM EDT

Americans will be allowed to contribute more of their money to 401(k) and similar retirement saving plans next year. The IRS said Friday that the maximum contribution that an individual can make in 2023 to a 401(k), 403(b) and most 457 plans will be $22,500. That's up from $20,500...

Liz Weston: 3 inflation-savvy moves to make now

Oct. 17, 2022 07:58 AM EDT

Inflation is proving to be a stubborn, unwanted houseguest. No one particularly likes paying more for food, fuel and other living costs. But so far, the Federal Reserve’s attempts since March to evict inflation with higher interest rates haven’t worked. Because we may be stuck...

How Social Security works and what to know about its future

Oct. 13, 2022 10:45 AM EDT

NEW YORK (AP) — Tens of millions of older Americans will see a major increase in benefits this January when a new cost-of-living adjustment (or COLA) is added to Social Security payments. The 8.7% raise is meant to help them with higher prices for food, fuel, and other goods and...

Liz Weston: How to spot a great 401(k)

Oct. 10, 2022 09:34 AM EDT

Any 401(k) can help you save for retirement. A great 401(k) allows you to save a whole lot more. The difference between a mediocre plan and a great one could translate into tens of thousands of dollars in future retirement money. Plus, a 401(k)’s quality can show how serious a...