From MarketWatch Retirement:
6 New Year’s resolutions for retirement: back to basics As we approach the end of 2022 — a year marked by high inflation and turbulent markets — it’s a good time for a retirement-planning reset. This year, many experts recommend getting back to basics.
Workers and retirees are getting some year-end goodies from Washington—and more could be on the way. The recent passage of SECURE 2.0 will make it easier for millions of Americans to stash more cash into their workplace retirement plans.
With this simple year-end change to your retirement accounts, you can reap significant tax rewards With a simple change in the structure of your retirement accounts, such as a Roth IRA conversion, you can reap significant potential long-term rewards.
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Increase your 401(k) contribution by 1 percentage point to get the new year started right
Many older adults get lost in a maze of doctor’s orders, paperwork and medications. Improving ‘health literacy’ can help.
More in retirement news:
4 new ways to avoid a tax penalty for early individual retirement account withdrawals (CNBC)
Is Your Bank Benefiting You In Retirement? (Forbes)
Your 401(K) Isn’t Enough: To Invest for Retirement, Build Friendships and Hobbies (WSJ)
Congress wants to change how you save for retirement. Here’s what to know. (CBSNews)
The 5 most tax-friendly states for retirement in 2023 (FoxBusiness)
5 Reasons You’ll Blow Up Your Retirement Plan (Kiplinger)
Research and Insight:
This Is the Average Income for Retirees in America (Motley Fool)
Recent Recessions Had Mixed Impact on Retirement Decisions, Says Study (FedWeek)
Retiring Abroad 101: Setting Yourself Up for Success (TheStreet)
2023 Retirement Planning: A Roadmap To Recovery (IBD)
The ‘Secure 2.0’ retirement legislation leaves a ‘huge problem untouched,’ labor economist warns. How these changes could help (CNBC)
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