Gen Z, Millenials have bleak outlook on financial futures, study finds
Most young adults in the U.S. believe they can improve the world, but fewer than half say they can secure their financial future, according to a new study.
Retirement, 401(k) savings rise led by Boomers, Gen Z
Retirement and 401(k) savings posted an increase in this year's first quarter, with Generation Z and Baby Boomers leading the way, according to a recent study from Fidelity Investments.
Rising costs pressure many Americans to make this one retirement mistake: Survey
High costs pushed 25% of cash-strapped Americans to cut retirement savings, according to a recent TIAA Institute survey.
Many Americans prioritize saving for retirement despite being squeezed by rising costs: survey
Inflation and rising costs have meant curtailing how many Americans spend money, but 34% said they saved more for retirement this past year, according to the Certified Financial Planner (CFP) Board of Standards cost of living survey.
Americans save more in HSAs, Fidelity reports HSA assets exceed $16 billion
Fidelity's total assets in health savings accounts (HSA) totaled more than $16 billion. But even as savings increase, some consumers are practicing dangerous financial habits to pay for healthcare.
Nearly half of Americans cash out 401(k)s when changing jobs
Almost half of Americans have withdrawn funds from their 401(k) plans after leaving jobs, with some completely draining their balances. But doing so before reaching retirement age can trigger taxes and penalties. Here’s what you need to know.
Financial stress has biggest impact on Americans’ mental health: survey
Financial struggles are the biggest drivers of stress among Americans, according to a survey by Clever Real Estate. More than half of respondents said they’re stressed about inflation and not having enough money to save for retirement.
America's retirement preparedness score drops: Fidelity
The average American has a 78% chance of covering estimated retirement expenses in a down market, according to Fidelity's 2023 Retirement Savings Assessment. Here’s what you need to know.
Seniors worry Social Security increase not enough to cover rising costs: Survey
More than half of survey respondents said the latest increase to Social Security benefits doesn't adequately cover rising costs. As inflation rises, the increase in spending exceeded the latest 8.7% COLA adjustment.
Most Americans don’t know these financial solutions could help lower their tax burden: survey
Only 2% of Americans can correctly identify financial solutions with tax advantages, despite one in three saying they prioritize investments that would help them pay less in taxes either now or in the future, a recent Lincoln Financial Group survey said.
Social Security benefits could be cut by 20% starting in 2034, officials say
Social Security trust funds are expected to run out of money one year earlier than initially projected, the U.S. Treasury Department said.
Saving for retirement in America makes 'dramatic' shift, new report reveals
A new Vanguard report showed an increasing number of American workers participating in retirement plans and saving more money, but Gen Z is "better prepared" than the rest.
Self-directed retirement plan balances increased in Q4: report
Self-directed retirement plan balances as well as balances for 401(k)s, 403(b)s and individual retirement accounts (IRA)s increased at the end of 2022, despite year-over-year losses.
Over 25% of Americans contributed 3% or less to retirement plans
Americans contributed less to retirement in 2022 and nearly a quarter contributed 3% or less of their income to their 401(k)s.
Retirement plan balances decreased by nearly 25% in 2022
Despite growth in retirement plan balances in the fourth quarter, savings took a major hit in 2022 and inflation remains a concern for many Americans. Here’s how to pay off high-interest debt and make more room for retirement contributions.
Macron’s government faces vote of no confidence after pushing up retirement age
France's prime minster faces a vote of no-confidence after she pushed through unpopular changes to the federal pension program in a move backed by President Emanuel Macron.
Most seniors say the US is suffering a retirement crisis and many are struggling to save: Survey
Eighty-nine percent of seniors said they are worried that the U.S. is in the grip of a retirement crisis and nearly half are struggling to build their savings, according to American Advisors Group's (AAG) recent survey.
Fidelity: Retirement account balances are down from a year ago but rebounding
Research from Fidelity Investments found that Americans' average IRA and 401(k) balances were down at the end of last year compared to a year ago but are rebounding.
Rising inflation pushed Americans to pick between paying their bills or saving for the future: Allianz
Continued market volatility in the U.S. economy caused many Americans to report that they had to cut down on saving for the future, according to a recent Allianz survey.
Retirees lost 10% of their savings in 2022, survey says
Inflation and market volatility has had a significant impact on retirees' savings, research shows. Here’s what you need to know.