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401k Benefits and Risk - Page 2

HELP! I LOST MY 401(K)

Question: I contribute to my 401(K), but a firm that doesn't offer a 401(K) recently bought my wife's company. We both contribute the maximum to Roth IRAs, but I'm wondering what we can do to make up for the loss of her 401(K). Since she no longer has a retirement plan at work can she now also contribute to a traditional IRA as well as a Roth? - Chris, Austin, Texas
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US companies pull out of retirement contributions:

A wave of US companies are suspending payments to their staff 401(k) retirement plans in a bid to cut costs amid the economic downturn. Ref. Source 1

401k Benefits and Risk History & Civil Business Politics

More than 25% of Americans raiding 401(k)s to pay bills:

U.S. Workers are tapping into nearly a quarter of the $293 billion placed into their retirement savings each year to pay for mortgages, credit cards and other debts, according to a report from financial advisory firm HelloWallet. Those in their 40s are the most frequent raiders, with about one-third using their 401(k)s to pay for current bills. Ref. Source 2

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Get smart and get better 401(K) returns

First-of-its-kind study shows financially smart savers earn higher risk-adjusted returns than others. Ref. Source 8

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Number of 401(K) millionaires hits record high. Are you a 401(K) millionaire? Fidelity Investments says the number of its 401(K) account holders with balances over $1 million hit record high. Source 8l.

401k Benefits and Risk

Today's the last day to contribute to some retirement accounts. If you want to end up with the largest nest egg possible, knowing when to contribute to your retirement account is almost as important as contributing in the first place. You must make your 401(K) contributions by Dec. 31, 2020 Ref. USAToday.