The new year will usher in myriad retirement-related changes for both savers and retirees. Here’s a roundup of the top retirement-related changes for 2026. Retirement account contribution limits The amount you can squirrel away for your golden years will inch up modestly. The contribution limit on individual retirement accounts (IRAs) increases to $7,500, and the catch‑up contribution limit for people 50 and older goes to $1,100 for 2026. The limits apply to both traditional and Roth IRAs, though Roth I ...

When it comes to retirement savings, Gen Xers lag behind their older (and younger) counterparts due to changes in the broader U.S. retirement system over the past few decades, namely the decline of pensions and the rise of defined contribution (DC) plans, like 401(k)s. "While many Baby Boomers have defined benefit pension plans that provide a set income for life, Gen Xers entered the workforce as pensions were being replaced by DC plans and before key features like auto-enroll and auto-escalate became commo ...

Retirement is often framed as the reward after decades of work. The alarm clock goes quiet, the schedule opens up, and time finally feels like it belongs to the people who earned it. For many Americans, though, the approach to retirement brings more unease than relief. A national LiveCareer survey found that 61% of working Americans say they fear retirement more than death, largely because of financial concerns. Instead of picturing travel or hobbies, many worry about whether their savings will last, how ...

Spaving — the act of spending money to save money — might seem beneficial to your wallet, but according to experts, the strategy can set you back in retirement. “The reality is you’re spending more money and diminishing long-term savings,” explained Geri Hopkins, chief operations officer at Skyla Federal Credit Union. “The money spent on these so-called deals could be more effectively invested in a high-yield savings account.”Spaving usually isn’t a one-time event, so if it becomes a regular habit, people ...

You could also opt for other types of savings accounts — money market, certificates of deposit , a traditional savings account — or build savings through investments, but a high-yield account may be your best bet for steady, nonvolatile growth.If you’re simply looking to build a general savings nest egg, however, a high-yield savings account is a solid strategy. Fortune notes that “the best rates are often found with online-only accounts,” so you’ll have to be fine with online banking. That said, you’ll ear ...

Mary Woulf was 22, a single mother and a college dropout. She went to a temp agency for a receptionist job. She did well on the test, so the agency sent her to its best client, a national mortgage lender. “I was only supposed to be there for three months,” she said. She stayed for 13 years. Early on, one of Woulf’s colleagues sat her down. “They knew I was just a single mom and trying to work hard,” she said. The mentor told her about the company’s 401(k) program. “They said, ‘One day you might have a ...

Hinterhaus Productions/ Getty Images Key Takeaways Most retirees' biggest regrets are not saving enough and not starting to save early; both can impact your finances and overall happiness later in life. Starting to save even small amounts early on pays off massively over time, thanks to compounding interest. With people living longer and traditional pensions fading from use, saving more than feels comfortable today can make the difference between just getting by and truly enjoying retirement. Ret ...

Tim Boyle / Getty Images News via Getty Images Key Points The median retirement savings for Americans aged 65 to 74 is $200K. A $200K nest egg generates only $8K annually using the 4% withdrawal rule. Claiming Social Security at 62 instead of 67 reduces monthly benefits by 30%. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier than expected. take 5 minutes to learn more here The median retirement ...

simon jhuan / Shutterstock.com Quick Read Americans working with a financial advisor average $132,000 in retirement savings, versus $62,000 for those without one. Those with advisors plan to retire at 64 compared to 66 for non-advised savers. Advised savers are more likely to have emergency funds and long-term plans accounting for economic volatility. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier ...

Key Takeaways Why Your Child's Paycheck Opens the Door to a Surprisingly Powerful Holiday Gift A child's first paychecks can feel small, but they unlock one of the most valuable financial opportunities your kid may ever get. Once a teen has earned income from a part-time or summer job, they're eligible to contribute to a Roth IRA—and this can create a unique tax advantage most adults can't match. Why? Because Roth IRA contributions are made with after-tax dollars. For adults, that means choosing to "pay tax ...