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Personal Finance 2021-03-01T21:01:52Z
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The average 401(k) balance by age, income level, gender, and industry

Your age, gender, and occupation all influence how much you have saved for retirement — see how your account value compares.
Personal Finance 2021-03-01T17:32:57Z
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The best IRA CD rates for March 2021

The banks with the best IRA CDs offer high APYs and a variety of term lengths, and they don't charge maintenance fees.
Personal Finance 2021-03-01T17:08:46Z
kathleen porter kristiansen kids

My kids started earning money during the pandemic, and we found the perfect account to let their cash grow tax-free

When the pandemic hit, her kids started earning money modeling in Instagram ads and selling lemonade. Now, that money is growing for retirement.
Personal Finance 2021-03-01T14:42:45Z

These are the best IRA accounts available right now

The best IRA accounts offer commission-free trading, low fees, and self-directed or automated investing options.
Personal Finance 2021-03-01T14:41:11Z

Here are the best Roth IRA accounts available right now

The best Roth IRA accounts are usually free to set up and offer access to multiple investment options.
Personal Finance 2021-02-25T20:10:00Z

A single mom who saved $750,000 in 4 years says she followed 6 steps to reach her goal

She sold her home, cut her expenses, and invested her freed-up income into three retirement funds and a brokerage account.
Personal Finance 2021-02-25T17:31:28Z

3 signs you may want to buy an annuity, a type of insurance that guarantees you income in retirement

While annuities can be a good fit for individuals in specific circumstances, you shouldn't put more than half of your portfolio into an annuity.
Personal Finance 2021-02-25T15:07:46Z

Online investment advisor blooom offers some of the cheapest access to a financial advisor you can get

Blooom is an investment advisor that manages retirement accounts with no minimum balance requirement or asset under management fee.
Personal Finance 2021-02-22T18:44:25Z

A financial planner shares the simple strategy she uses to help everyday Americans retire as millionaires

Start by knowing your net worth, then pay down debts, save monthly, keep your bills within your means, and set up a retirement fund.
Personal Finance 2021-02-22T13:34:37Z

A woman who retired at 30 says 2 changes helped her save enough to leave work for good

A Purple Life was able to retire after just five years of saving by moving somewhere cheaper and using a budgeting software to save more.
Personal Finance 2021-02-19T15:54:14Z

ASK A FINANCIAL PLANNER: What's the next best place to put retirement savings after maxing out my 401(k)?

ASK A FINANCIAL PLANNER is a bi-weekly column from Insider's resident financial planner, Tanza Loudenback. This week: Where to save for retirement.
Retirement 2021-02-14T13:10:00Z

My husband and I want to retire early, and a simple equation will help us get there without sacrificing our lifestyle now

Traditional FIRE requires saving every penny to stop working as early as possible, but for this couple, that stripped the fun out of life.
Personal Finance 2021-02-11T15:42:54Z

After a TikTok video told me how to retire a millionaire, I immediately changed my savings strategy

As a recent college grad in her early 20s, opening a Roth IRA on the advice of TikToker Gil Oliveira was a smart decision.
Personal Finance 2021-02-10T15:13:34Z

I thought a stock-trading app was the right idea at 21, but I've since found a smarter strategy

Using an app meant choosing the wrong investing account for my goals — the app offered an individual taxable account when a Roth IRA was better.
Personal Finance 2021-02-09T21:58:54Z

The 15 best states to retire for a low cost of living in your golden years

Soon-to-be retirees should consider retiring to Florida, Minnesota, Ohio, Iowa, or Texas for an affordable and happy retirement.
Personal Finance 2021-02-09T17:54:50Z

My retirement savings gets a boost every year thanks to a 5-second decision I made when I opened my 401(k)

There are two ways to save in a 401(k): as a percentage or as a fixed dollar amount. The percentage method means you save more with every raise.
Personal Finance 2021-02-09T16:30:43Z

Saving for retirement was last priority in my 20s until a mental shift changed my strategy completely

When I re-framed retirement saving as simply wealth building for the future, I didn't feel so cynical about the process. Now, I'm excited to save.
Personal Finance 2021-02-08T15:59:17Z

My uncle retired early at age 56 after living by 3 money rules his whole life

Her uncle learned about money through books, and used that knowledge to save enough money to retire early. She still uses his lessons today.
Personal Finance 2021-02-02T22:50:37Z

The best retirement plans to use in 2021

The best retirement plans include tax-advantaged options for individuals, employees, self-employed individuals, and small businesses.
Personal Finance 2021-01-27T16:46:05Z

I didn't want to wait decades for retirement, so I made 3 money changes that let me live a 'retirement' lifestyle right now

After living in France, the author questioned everything she'd previously accepted about her life. She wanted to work to live, not live to work.
Personal Finance 2021-01-25T16:57:37Z

Our financial advisor told us to save for retirement over our kids' college, and we listened for 4 good reasons

She was surprised when a financial advisor told her saving for retirement was more important than saving for college, but his argument made sense.
Personal Finance 2021-01-16T13:17:00Z

My husband and I use a 2-part strategy to handle raises and bonuses, and it's making all the difference in our retirement savings

Instead of spending bonuses or letting their cost of living rise when they get raises, they've kept their expenses low and saved anything extra.
Personal Finance 2021-01-11T13:44:18Z

My income is inconsistent as a freelancer, but thanks to a smart savings strategy I'm on track to reach financial independence

After filling up her emergency fund, she decided to pursue FIRE to safeguard her future as a freelancer.
Personal Finance 2021-01-07T20:13:27Z

I'm a financial planner, and I think most people are better off skipping a Roth 401(k)

Unless you plan to make much more money in retirement, a traditional 401(k) is best, says financial planner Chloe A. Moore.
Personal Finance 2021-01-05T14:19:18Z

I never thought someone like me could be financially independent, but 3 steps are helping me reach that goal by 45

Her family needs to obtain more financial security, and working towards financial independence can help her achieve that.
Personal Finance 2020-12-31T19:36:00Z

I'm a financial planner and I see clients rush to pay off debt before retirement — but it can be a big mistake

Common wisdom says to pay off all your debt before retirement, but this financial planner doesn't always agree.
Personal Finance 2020-12-30T19:54:29Z

4 signs you won't be able to retire early, even if you think you're ready to leave work

If you haven't thought about a backup plan, talked it over with your partner, or cut some expenses, early retirement might have to wait.
Personal Finance 2020-12-27T13:22:00Z

Reading 2 short sentences in 'Millionaire Teacher' convinced me to change my retirement savings strategy, and it's helped me earn thousands

"Millionaire Teacher," by Andrew Hallam, showed the author that she was missing out on compound interest by not investing her savings.
Personal Finance 2020-12-26T13:20:00Z

3 things people in their 30s can do right now to retire comfortably, according to a financial planner

Most people in their 30s are facing a host of conflicting financial priorities, but saving for retirement should top the list.
Personal Finance 2020-12-25T17:10:00Z

I hate budgeting, so I sat down with my parents and let them show me the budgeting system that helped them retire early and now I'm on track to do the same

Before implementing this budgeting system, she tried elaborate workarounds to get herself to save more. Her parents' system is a lot more effective.
Personal Finance 2020-12-24T16:33:42Z

I'm lucky I started saving for retirement at 24, but if you didn't, there are 3 steps you can take now to catch up

If you didn't have the resources or forethought to kick off your retirement savings early in life, starting today is the next best option.
Personal Finance 2020-12-23T16:52:36Z

I'm a financial planner, and I keep seeing millennials misuse 2 types of investment accounts

We all want to make the best decisions with our money, but certain types of life insurance and retirement accounts aren't right for everyone.
Personal Finance 2020-12-19T13:30:00Z

3 signs you're not saving enough for retirement, even if you started years ago

If you're thinking about taking Social Security as soon as possible or will have to change your lifestyle, you haven't saved enough for retirement.
Personal Finance 2020-12-18T18:03:05Z

My husband and I made a big money mistake early in our marriage that means we'll have to wait years longer to retire

They each had a nest egg when they married, but they didn't have a great investment strategy. A financial advisor could have helped them build wealth.
Personal Finance 2020-12-16T19:51:00Z

5 things people in their 40s need to do now to be comfortable in retirement, according to a financial planner

Financial planner Martin A. Scott says people in their 40s can still save enough for retirement even if they haven't started yet.
Personal Finance 2020-12-15T22:19:44Z

3 signs you can't afford to retire, even if you've been saving for years

Even if you've been saving for years, there's a chance that you haven't saved enough, or have taken money out of your retirement account.
Personal Finance 2020-12-15T17:07:32Z

The 17 best personal finance books for 2021

Whether you want to learn to invest, budget, retire early, or just the foundations of managing money, these 15 personal finance books are the best.
Personal Finance 2020-12-14T22:49:18Z

I started saving for retirement when I was 24, and I'd recommend just about anyone do the same for 2 reasons

She didn't have a clear idea of her future retirement when she started saving at 24. But with growing investment accounts, her options are open.
Personal Finance 2020-12-14T20:33:28Z

I thought my health savings account was for medical costs only, and ended up missing a big opportunity to save more for retirement

Like the author, you might not realize that your health savings account can help you build wealth tax-free to cover medical expenses in retirement.
Personal Finance 2020-12-14T14:25:43Z

Being retired always seemed boring to me, so I figured I'd work forever and wouldn't need to save. But reading 'The Millionaire Next Door' completely changed my thinking.

She upped her 401(k) contribution when she realized that saving now can help her live the life she wants later, even if it's not typical "retirement."
Personal Finance 2020-12-13T13:31:00Z

Reading a single chapter of 'Millionaire Teacher' helped me save $15,000 and stop living beyond my means

Before reading Andrew Hallam's "Millionaire Teacher," the author was living well beyond her means and unable to save much at all.
Personal Finance 2020-12-11T14:38:15Z

4 pieces of advice to help you retire comfortably, according to people who have done it

Retirees say that saving consistently for retirement, at whatever age you start, is a big key to success.
Personal Finance 2020-12-10T22:05:19Z

I'm retiring within a decade and it's thanks to 3 realizations I've had over the course of my career

For Holly Johnson, saving for early retirement just makes sense — it's always good to have options, and you don't want to have to work until you die.
Personal Finance 2020-12-10T20:54:26Z

Here's how much the typical American has saved for retirement at every age

Data from Personal Capital looks at median retirement account balances of about 337,000 users ages 20 to 69.
Personal Finance 2020-12-09T20:00:00Z

I use a 'squirreling' hack to max out my retirement savings every year, even when I'm not sure how much I'll make

She started maxing out her Roth IRA while working as a server in NYC and has been able to fill it every year, even when her income has dropped.
Personal Finance 2020-12-09T13:06:30Z

I never saved much for retirement because I didn't expect to live past 40. But when an online quiz showed me I could live decades longer, I learned how to save money fast.

Between family members dying young and health and social inequality, she was shocked to discover she might live decades longer than expected.
Personal Finance 2020-12-08T17:12:00Z

A financial planner says his clients always get the same thing wrong about retirement planning, and it can end up costing a fortune

Financial planner Charles Weeks says clients who are nearing retirement don't always have adequate funds in place for healthcare costs.
Personal Finance 2020-12-04T07:58:00Z

I thought I'd done the right thing by opening a Roth IRA in my 20s, but I made a mistake that cost me thousands

These days, she maxes out her Roth IRA every year and is on track for retirement. But she got a rocky start.
Personal Finance 2020-12-02T21:56:00Z

3 things 30- and 40-somethings always forget when planning for retirement, according to a financial planner

It can be hard to know what you should be doing now to prepare for an event that won't happen 20 or more years in the future.
Personal Finance 2020-11-21T13:28:00Z

A financial planner says open enrollment is a prime opportunity to build your retirement savings — here's how

Opting for a high-deductible health plan during open enrollment means you can contribute to an HSA to invest for future healthcare costs.
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