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29 Nov '23Retirement Plan Savings – Financial Voyeurism Part 5
Continue readingHow do your retirement plan savings stack up? Are you accumulating retirement assets faster than your peers? Every three years I look forward to the latest Federal Reserve Board’s Survey of Consumer Finances (SCF) to remind us how wealth is distributed in the United States. Also see the other postings in our Financial Voyeurism series: Part 1 […]
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22 Nov '23IBM 401(k) Plus Plan Changes!
Continue readingIBM 401(k) plan changes coming in 2024. The technological behemoth recently announced a significant change to its employee retirement benefits that has sent ripples through its workforce. Effective January 1, 2024, the company plans to bid farewell to its longstanding 5% matching contributions and 1% automatic contributions to employees’ 401(k) accounts. Instead, IBM will usher […]
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15 Nov '23Net Worth Growth – Financial Voyeurism Part 4
Continue readingWhat has the typical family net worth growth been over time in the United States? Are you accumulating assets faster or slower than your age group peers? And what has the impact of recent inflation been on household net worth? The Federal Reserve Board’s Survey of Consumer Finances (SCF) is conducted every three years. It […]
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08 Nov '23Household Net Worth – Financial Voyeurism Part 3
Continue readingFinancial curiosity often leads us to ponder how our finances compare to those of others. Are we accumulating assets faster or slower than our peers, and how does our household net worth measure up to the national average? In this third part of our series on financial voyeurism, we delve into the intricacies of net […]
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01 Nov '23Net Worth by Age in the U.S. – Financial Voyeurism Part 2
Continue readingThe household net worth in the United States varies significantly across different age groups. Understanding the average net worth of households at different stages of life is essential for financial planning; and makes for good financial rubbernecking. To gain insights into this complex topic, we turn to the Federal Reserve’s Survey of Consumer Finances (SCF), […]
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19 Oct '23Exploring Household Income – Financial Voyeurism Part 1
Continue readingTech employees are known for their high household income. Yet the cost of living in tech hubs like Seattle and the San Francisco Bay Area often makes it seem less glamorous. To keep things in perspective, I eagerly await the Federal Reserve Board’s Survey of Consumer Finances (SCF) every three years. This report sheds light […]
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27 Sep '23How Do Wells Fargo Employees Invest?
Continue readingHow do Wells Fargo employees approach 401k retirement investing? Wells Fargo offers a 401(k)-retirement savings plan for its 300,000+ plan participants. Accordingly, these Wells Fargo employees can choose to contribute a portion of their income to the plan. But which investments do Wells Fargo employees pick as retirement investments? We will get to that, but […]
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20 Sep '23Should You Buy an Annuity in Your 401(k)?
Continue reading401(k) plans have allowed annuities for several decades, but recent regulatory changes have made buying an annuity in a 401(k) a hot topic. Annuitizing your 401(k) account can create a more pension-like retirement plan with fixed monthly payments. Obviously, this type of “guaranteed” monthly income is highly desirable for some people. But please, consider the […]
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13 Sep '23The ESPP Decision – More Equity?
Continue readingAn employee stock purchase plan (ESPP) is a program offered by a company to its employees to purchase shares of company stock at a discounted price. ESPPs are a popular way for employees to build wealth over time and share in the company’s success. There are two main types of ESPPs: Qualified ESPPs: These plans […]
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06 Sep '23The HSA Tax-Advantage Triple Play (Health Savings Accounts)
Continue readingA Health Savings Account (HSA) is a tax-advantaged savings account designed for individuals and families with high-deductible health insurance plans (HDHPs). HSAs are intended to help people save money for qualified medical expenses while also offering tax benefits. Here are some key features and benefits of HSAs: High-Deductible Health Plan Requirement: To be eligible for […]
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30 Aug '23401K Investing: Walmart Employees
Continue readingHow do Walmart employees approach 401k investing? Walmart offers a 401(k)-retirement savings plan for its 1+ million employees. Employees can choose to contribute a portion of their income to the plan. But which investments do Walmart employees pick as retirement investments? What is a 401(k) Retirement Savings Plan A 401(k) plan is a retirement […]
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23 Aug '23401(k) Loan – Tread Carefully
Continue readingA 401(k) loan might seem like an attractive option when you’re in need of funds. But it comes with several pitfalls and potential drawbacks that you should be aware of before making this decision. What is a 401(k) Loan? A 401(k) loan allows individuals to borrow money from their own 401(k) retirement savings account. […]
