Saving for retirement is a crucial aspect of financial planning, and recent data shows that the average 401(k) plan savings rate is on the rise. According to a quarterly Fidelity analysis, the combined 401(k) savings rate reached 14.2% in the first quarter of 2024, which is a record high. This percentage is nearing the recommended
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When Kelly Harry first began her career as an account executive in ad sales in New York City, she was content with her $40,000 salary. However, a conversation with a coworker revealed that she was being significantly underpaid compared to her colleague’s $102,000 salary. This eye-opening moment made Harry realize the importance of recognizing her
The rise of financial advice on TikTok, also known as #FinTok, has gained significant popularity, especially among Generation Z. With limited access to professional advisors and a preference for seeking information online, Gen Zers are turning to social media platforms like TikTok, YouTube, and Instagram for financial tips and advice. According to a report by
When it comes to retirement planning, higher earners often face limitations on tax-free savings options. The traditional Roth IRA, known for its tax-free growth benefits, has income limits that disqualify some individuals from making direct contributions. For single filers, the adjusted gross income limit for Roth IRA contributions in 2024 is $161,000, while for married