Tag: 401k
If a 60-year-old baby boomer started saving consistently at the beginning of his career back in the 1980s, he would have some $364,000 in his 401(k)s and IRAs today. How much does he actually have? One-fourth of that, according to a new study from the Center for Retirement Research at Boston College (CRR). One obvious…
Workers are apparently very eager to get their hands on the money in their retirement savings plans. The evidence is the spike in withdrawals from IRA accounts that occurs soon after people turn 59½, the age at which the IRS’ 10 percent penalty on early withdrawals vanishes and is no longer a deterrent, according to…
