4 things to know about Trump’s new retirement plan order
Digest more
Trump is expected to sign an order that would broaden access to retirement savings for workers whose employers don’t offer 401(k)-type plans.
The right strategy is key to making your savings last.
While many personal finance apps make it easy to manage your money, a few excel at retirement planning. Retirement planning apps can help users project their future income and expenses under different scenarios.
Jump reports that retirement planning is increasingly complex due to AI tools and policy changes, leading to confusion and inaction among consumers.
Be sure to have a solid retirement plan. Think through how you'll spend your retirement. Consider test-driving your retirement ahead of time. So you're about five years away from retiring. It makes a lot of sense to start assembling a list of things to do before your last day at your job.
There are many free and paid digital tools available to help you track retirement savings and budget for the future. Retirement planning tools vary in complexity, with some offering a simple overview and others providing detailed guidance.
Many Americans approaching retirement still carry credit card balances, which can complicate retirement planning and savings. High-interest debt can increase monthly expenses and force difficult trade-offs between paying down balances and saving for the future.
While you have a lot going on as you leave a job, it's important to make a plan for your existing 401(k).