Hey internet friends. Great news...America has more 401(k) millionaires than ever before! Hooray...but there's one little thing: one million dollars today doesn't buy what it did six years ago in 2020. On top of that, the money Americans set aside for retirement may be funding the destruction of America. For decades, we've been told that the 401(k) represented independence, ownership and a security. Meanwhile, trillions of dollars flowed into a small group of "asset managers" like Larry Fink with the power to influence American companies, energy policy, infrastructure and even the federal government itself. In this video, we follow the money from the disappearance of traditional pensions to the coal antitrust case involving BlackRock,…
'The Big Money Show' panel discusses the rise of 401(k) millionaires. Fidelity reports a 19% increase in accounts with over $1M, while the panel debates retirement savings strategies. #foxbusiness #fox #thebigmoneyshow #401k #retirement #fidelity #investing #wealth #stocks #personalfinance #economy #businessnews #usnews #financialfreedom
President Trump will sign an executive order expanding workers’ access to retirement accounts from the Oval Office on Thursday, according to the White House. He is also expected to create a new government website where they can compare private-sector accounts. The program first reported by Semafor, and dubbed TrumpIRA.gov, is designed to assist Americans that lack retirement accounts through their employers.
The Trump administration yesterday took a giant step toward allowing alternative assets in 401(k) plans, with the Department of Labor proposing rules that now will be open for two months of public comment. The big picture: Pay more attention to the actual rule than to the press release . - The former focuses primarily on process, including the use of benchmarks. The terms "prudent" or "prudently" are mentioned 105 times. It makes no claim that adding private equity or crypto to a 401(k) will improve performance. - The latter does a lot more cheerleading for "President Trump's promise for a new golden age," although it does cite "prudent process" near the end. What they're saying: "I'm surprised by how neutral the rule was, when you…
A self-employed couple already had to dip into retirement savings for health costs. Now, they are skipping vacations and canceling streaming to afford health insurance.
