SEE THIS SLIDE SHOW: The Best Tools to Help You Retire
ALL-AROUND RETIREMENT ACCOUNT
Roth IRA
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If you see higher taxes in your future, the Roth IRA looks better than ever. There is no upfront tax break, but you benefit from tax-free growth and tax-free income in retirement. Plus, you get the flexibility to withdraw contributions (but not earnings) anytime, tax- and penalty-free. And you can tap earnings early to pay for college or buy a first home.
TARGET-DATE RETIREMENT FUNDS
T. Rowe Price
T. Rowe Price target-date funds have a high exposure to stocks, so their recent performance has been slightly worse than that of their peers. Year-to-date to October 13, the Price 2020 fund, designed for people planning to retire in about 12 years, was down nearly 33% from a year earlier, compared with a 32% drop for Fidelity's 2020 Freedom fund and a decline of about 29% in Vanguard's 2020 fund. But the higher stock allocation will increase chances for growth over the long run.
IRA FOR KIDS
Schwab
One of the few financial institutions that lets you establish a custodial IRA for a minor child, Schwab offers a no-fee IRA with the lowest minimum-investment requirement in the industry -- $100. As long as your child has earned income, he or she can contribute up to $5,000 this year to an IRA -- or up to the total amount of earnings if he or she earned less than that.
NEW ONLINE RETIREMENT TOOL
TD Ameritrade's WealthRuler
This free, comprehensive tool helps you determine whether your current savings are on track and suggests ways to catch up if you're behind. For those close to retirement, T. Rowe Price's new retirement-income calculator projects whether your savings will generate adequate income.
ANNUITY INCOME TOOL
Metlife
This new guide from Metlife shows how including an income annuity as part of your retirement investment portfolio can boost your spending power and provide guaranteed income that you can't outlive.
ONLINE TOOL FOR 401(K) PARTICIPANTS
Fidelity
The largest provider of 401(k) plans "makes it easy for participants to get in, get the information they need and get out," says Lee Kowarski, principal of Kasina, a consulting firm for the asset-management industry. Kasina selected Fidelity as the top-rated site out of more than 80 record keepers for defined-contribution plans, followed by T. Rowe Price and Vanguard.
MORE FROM THE 2008 BEST LIST:
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Take Charge of Retirement Spending With This Simple StrategyTo make sure you're in control of retirement spending, rather than the other way around, allocate funds to just three purposes: income, protection and legacy.
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Here's How To Get Organized And Work For YourselfWhether you’re looking for a side gig or planning to start your own business, it has never been easier to strike out on your own. Here is our guide to navigating working for yourself.
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457 Plan Contribution Limits for 2025Retirement plans There are higher 457 plan contribution limits for state and local government workers in 2025 than in 2024.
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Medicare Basics: 11 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
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The Seven Worst Assets to Leave Your Kids or Grandkidsinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
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SEP IRA Contribution Limits for 2024 and 2025SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 in 2024 and $70,000 in 2025..
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Roth IRA Contribution Limits for 2024 and 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
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SIMPLE IRA Contribution Limits for 2024 and 2025simple IRA The SIMPLE IRA contribution limit increased by $500 for 2025. Workers at small businesses can contribute up to $16,500 or $20,000 if 50 or over and $21,750 if 60-63.
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457 Contribution Limits for 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
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Roth 401(k) Contribution Limits for 2025retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
