Behind On Saving for Retirement? Here’s How to Catch Up

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 26 August 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Many Americans in their 50s feel unprepared for retirement because they haven’t been able to put away enough money. Wall Street Journal reporter Hannah Miao joins host J.R. Whalen to discuss steps they can take now to boost the value of their portfolio. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:14.4	slash Wall Street.
0:17.0	Here's your money briefing. For Monday August 26th, I'm J.R. Wayland for the Wall Street Journal.
0:27.0	Last week we focused on how some members of Generation X who are approaching retirement
0:32.0	are not in a financial position to stop working.
0:35.0	Today we're looking at ways they can catch up.
0:37.6	The IRS allows people 50 and older to make additional contributions to 401k's or other similar employee sponsored retirement
0:46.1	plans.
0:47.1	This year in 2024, everyone is allowed to put $23,000 into a 401k or an employer-sponsored retirement plan.
0:56.6	If you're 50 and older, you can add an extra $7,500 on top of that.
1:01.7	Wall Street Journal reporter Hannah Meow spoke to financial professionals about other ways
1:06.0	Gen X can better prepare for retirement.
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1:36.0	AI needs.
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1:42.1	Take a free test drive of OCI at Oracle.com
1:45.0	slash Wall Street.
1:46.0	Oracle.com slash Wall Street. Americans close to retirement age who feel uneasy about the amount they've saved have
	...

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