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January 24, 2022

Retirement planning

Here are 4 big tax mistakes to avoid after stock option moves

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CNBC – For more and to sign up click here MoMo Productions | DigitalVision | Getty Images If you bought or “exercised” company stock options in 2021, you need to watch for tax pitfalls when filing, according to financial experts.  A stock option is the chance to buy stock in......

Anyone at age 65 should evaluate how — or if — Medicare will fit into their health-care coverage. Here’s why

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CNBC – For more and to sign up click here miodrag ignjatovic | E+ | Getty Images It’s not just retirees who need to think about Medicare. Anyone who plans to keep working when they reach the eligibility age of 65 should evaluate how — or if — Medicare will......

Now’s the time to boost 401(k) contributions for 2022

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CNBC – For more and to sign up click here Oscar Wong | Moment | Getty Images Planning to save more this year? There’s a higher 401(k) employee deferral limit for 2022, and now’s the time to boost contributions, financial experts say. Employees may funnel $20,500 into 401(k), 403(b) and......

Here is the age when many Americans hope to retire

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CNBC – For more and to sign up click here Clemens Porikys | Getty Images Entertainment | Getty Images Many workers look forward to the day when they can retire. A recent survey from Natixis Investment Managers set out to find out exactly when most Americans hope to stop working.......

5 ways to reset your retirement savings and save more in 2022

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CNBC – For more and to sign up click here Review workplace retirement plan contributions Contribute to traditional or Roth accounts — or both One decision is whether to put money pre-tax in a traditional 401(k) or workplace plan or contribute after-tax dollars in a Roth account. One rule of......

To make your financial New Year’s resolutions stick, here’s what you need to do

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CNBC – For more and to sign up click here MilosStankovic | E+ | Getty Images People have the best of intentions. At the start of a new year, millions make resolutions — goals they want to reach throughout the upcoming months. Getting a handle on money issues is usually......

Here’s what to know about your 2022 Medicare costs

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CNBC – For more and to sign up click here Phynart Studio | E+ | Getty Images When the calendar flips to 2022, certain Medicare costs will creep higher. For the program’s 63.6 million beneficiaries — most of whom are 65 or older — annual adjustments can affect premiums, deductibles......

Here’s where stock investors should consider putting their money in 2022

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CNBC – For more and to sign up click here Jose Luis Pelaez Inc | DigitalVision | Getty Images Coming off several years of outsized gains in the stock market, investors may be hoping 2022 is like deja vu again. Don’t count on it. While future performance is impossible to......

There are partial outages at Vanguard. What to do if you can’t make a required minimum distribution by Dec. 31

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CNBC – For more and to sign up click here FG Trade | E+ | Getty Images Vanguard investors have been grappling with partial website outages over the past several days that have blocked some customers from trade confirmations, certain statements and forms. These interruptions may cause problems for those......

More employers put 401(k) savings on autopilot

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CNBC – For more and to sign up click here Marko Geber | DigitalVision | Getty Images Employers are increasingly putting retirement savings on autopilot for their workers. About 62% of businesses with a 401(k) plan used automatic enrollment in 2020, up from 60% the year prior and 46% a......

Josh Brown says money can buy happiness if you invest right. Here’s how to build your dream portfolio

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CNBC – For more and to sign up click here Everyone should ask one simple question before building an investment portfolio, according to Josh Brown. “Why do you want to invest?” Every decision you make after forming an answer should serve that goal, Brown said. The CNBC contributor who appears......

Employers adding Roth 401(k) option at fast clip

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CNBC – For more and to sign up click here Integrity Pictures Inc | The Image Bank | Getty Images The share of employers allowing Roth 401(k) savings surged last year, giving more workers access to the financial benefits that accompany such contributions. A Roth is a type of after-tax......

As omicron spreads, here’s why advisors say it’s more important than ever to overhaul your financial plans

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CNBC – For more and to sign up click here New Year’s Eve numerals for 2022 arrive in New York’s Times Square on Dec. 20, 2021. Rob Kim | Getty Images Entertainment | Getty Images Rethink your retirement timeline Cecilie_Arcurs | E+ | Getty Images The Covid-19 pandemic has forced......

Nearly 22 million Americans are millionaires. Here’s how they got wealthy

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CNBC – For more and to sign up click here Being a millionaire may not be as rare as you think. There are nearly 22 million people in the U.S. with enough assets to fit the definition, according to a 2021 study by Credit Suisse. Chris Hogan, radio host and......

The best ways to avoid missteps with required withdrawals from retirement accounts

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CNBC – For more and to sign up click here Pawel Gaul | Getty Images When it comes to required minimum distributions, there are plenty of ways to make mistakes. This year, the chore may seem even more confusing than usual. After being waived for 2020, those RMDs — amounts......

Proposed changes to the U.S. retirement system are still on the table in Congress. Here’s where things stand

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CNBC – For more and to sign up click here Elizabeth Frantz | Reuters Two years after Congress passed a law that ushered in improvements to the U.S. retirement system, lawmakers’ efforts to make further enhancements are moving forward — albeit slowly. There’s bipartisan backing for measures in both the......

Backdoor Roth 401(k) and IRA rules for the wealthy survive — for now

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CNBC – For more and to sign up click here Sen. Joe Manchin, D-W.Va., walks outside of the Senate Chamber on Capitol Hill on Dec. 9, 2021. Kent Nishimura | Los Angeles Times | Getty Images The “backdoor Roth” tax strategy used largely by wealthy retirement savers and slated to......

With the future of Build Back Better in question, proposed Medicare changes are also in trouble

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CNBC – For more and to sign up click here fizkes | iStock | Getty Images Medicare beneficiaries may not end up seeing improvements to the program they were hoping for — at least not anytime soon. With Sen. Joe Manchin, D-W.Va., saying Sunday that he cannot support his party’s......

Biden wants to improve Social Security’s online services. Here’s some changes beneficiaries may see

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CNBC – For more and to sign up click here A Social Security Administration office in Sebring, Florida. Jeff Greenberg | Universal Images Group | Getty Images Applying for Social Security benefits can be a complicated process. Now President Joe Biden wants to make it easier. This week, the president......

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