Advice: Key provisions in Secure 2.0 could boost retirement savings by young adults
efforts. Here are some key provisions passed as part of the Secure Act 2.0.Starting in 2025, companies establishing new 401 and 403 plans will be able to automatically enroll employees with a contribution rate of 3 percent. Workers canIn 2024, retirement plans will allow employees two ways to build a savings cushion. Under one provision, they would be able to withdraw up to $1,000 for an emergency expense.
There’s an emotional toll the debt has on people and gets in the way of them saving for retirement, according to Kirsten Hunter Peterson, vice president of Thought Leadership at Fidelity. But if younger investors follow the lead of workers who have weathered many market downturns and keep investing, take
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I’m 73 and will only have my 401(k) after retiring. How do I make it last?Have a question about your own retirement savings? Email us at HelpMeRetiremarketwatch.com
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