If youâre working towards being retired or semi-retired, soon you will owe Uncle Sam taxes on your retirement savings because most retirement savings accounts are tax-deferred, not tax-free. Hereâs how to get ahead of this while youâre working. PennyGemâs Johana Restrepo has more.
More than half of Americans feel they just arenât saving enough for retirement, according to a 2019 Bankrate survey. But for those who have fallen behind, itâs always a great time to take stock of your 401(k) plan and get moving on ways to set you up for greater wealth and financial security in your golden years.