Latest Individual retirement accounts News

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. When stock markets are rattled by news events, it’s unsettling for any investor — but especially so for those who are retired (or nearly there). The first thing anyone with an investment portfolio should do is make sure it’s properly balanced, taking both income needs and risk tolerance into account. (NerdWallet via AP, File)

Liz Weston: Tax traps that side hustlers should avoid

Mar. 16, 2020 5:15 AM EDT

Millions of Americans earn extra money outside their regular jobs — as ride-hailing drivers, Airbnb hosts, eBay sellers and freelancers of all kinds. Their side hustle income may help make ends meet, but it also can create tax traps. Side gigs usually count as self-employment, which triggers different...

FILE - In this Thursday, March 12, 2020, file photo, a board above the trading floor of the New York Stock Exchange shows the closing Dow Jones Industrial Average number. The stock market has been on a punishing roller coaster ride this week, suffering its largest one-day drop in more than 30 years Thursday on concerns that the spread of COVID-19 will hit the global economy hard. It's safe to say that volatility with a capital V is back, a situation that probably only day traders like. For the rest of us, trying to ignore market free falls is not a bad strategy, especially when it comes to a long-term goal like retirement. (AP Photo/Richard Drew, File)

When market drops, play long game with retirement savings

Mar. 15, 2020 1:31 PM EDT

The stock market has been on a punishing roller coaster ride this week, suffering its largest one-day drop in more than 30 years Thursday, on concerns that the spread of COVID-19 will hit the global economy hard. While stocks made gains during Friday trading, it’s safe to say that volatility with a capital...

FILE - In this April 23, 2018, file photo, the logo for General Motors appears above a trading post on the floor of the New York Stock Exchange.  Despite a 40-day strike by factory workers and slumping sales in the U.S. and China, General Motors still made money in 2019. The company posted a $6.58 billion profit for the year, but that was down almost 17% from 2018.  (AP Photo/Richard Drew, File)

401(k)s hit records as workers sock away more, stocks jump

Feb. 13, 2020 11:05 AM EST

NEW YORK (AP) — How's your 401(k) doing? President Donald Trump likes to ask that question around the country, sometimes throwing out big gains like 90% or 95%. The average 401(k) did indeed hit a record last year, although its growth was considerably less than that. The average 401(k) balance rose 17%...