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March 15, 2024
By
The Admiral Staff
The article encourages readers to “make their money work for you” by investing rather than letting it sit stagnant. It highlights that investing, even with small amounts, can lead to significant growth over time, contrasting a modest retirement savings of $100,000 with a potential million dollars through investing. The article then provides four tools to help achieve this: optimizing a 401(k) with Blooom, starting to invest with as little as $5 through Stash, accelerating
March 6, 2024
By
The Admiral Staff
Many people are unknowingly losing retirement savings when they leave jobs, as companies may liquidate 401(k) accounts with less than $5,000, resulting in penalties and taxes. To combat this, a coalition of major 401(k) plan administrators like Fidelity and Vanguard are launching a “lost and found” system called the Portability Services Network (PSN), which will automatically roll over these smaller accounts to new employers’ plans (for a small fee). However
April 20, 2023
By
The Admiral Staff
A recent article challenges the common advice to have a specific multiple of your salary saved for retirement by a certain age, citing Fidelity’s chart which suggests having 10 times your salary saved by age 67. The author conducted a poll among colleagues and found most didn’t meet these recommendations, arguing that such charts rely on unrealistic assumptions like retiring at 67 and living to 92, and require a 15% savings rate—difficult for many given rising housing costs and
