Fifty years after Congress passed a landmark retirement law, 401(k) and I.R.A. accounts enrich mostly higher-income households. Here are five ways they can be improved.
Category: Individual Retirement Accounts
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What to Do When Your 401(k) Leaves Something to Be Desired
Over the course of a career, the high fees and a lower-quality menu of investment options found in some plans can shrink your balance significantly.
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Labor Department Proposes New Fiduciary Rule to Protect Investors
The Labor Department’s latest push for a new fiduciary rule would protect investors’ retirement savings and require financial services providers to change.
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What You Need to Know for the 2024 Tax Season
There are tax breaks for electric car purchases, SALT workarounds, benefits for retirees and a new system for eligible taxpayers to file their returns.
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Money in College Savings Accounts Can Now Go Toward Retirement
But there are caveats to moving the money into Roth I.R.A.s, and the government still has to issue guidelines about the option.
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Did You Keep a Money Secret, and Have a Happy Outcome? Tell Us About It.
If you or someone you love hid a financial matter that ended well, The Times would like to hear from you.
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In 2024, More Old 401(k) Accounts Could Be Forced Into Rollovers
In 2024, more low-balance, forgotten 401(k)s and similar retirement plans could be forced into rollover accounts, which don’t benefit their owners. Here’s what to know.
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Higher Contribution Limits Are Coming for 401(k) Retirement Plans
But, financial advisers note, most people cannot afford to set aside the maximum amount. “This is a system geared for high earners,” one expert said.
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Set It and Actually Forget It
The New York Times – Business:Millions of workers open retirement accounts, then ignore or forget about them, leaving thousands of dollars unattended. Are you one of them?
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What You Need to Know for the 2023 Tax Season
The New York Times – Business:Doing taxes in 2023 feels a lot like it did before the pandemic. Still, there are some meaningful changes to keep in mind.
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Why Investing at the Last Moment Can Hurt Your Returns
The New York Times – Business:You can still put money in an I.R.A. for 2022, and that’s better than not investing at all. But an early start would have given you a great advantage, our columnist says.