Early 401(k) withdrawals hit record high
A recent report by Vanguard reveals a record number of Americans took early withdrawals from their 401(k) retirement savings in 2022 and 2023, signaling a concerning trend.
401k
What to know about taking out a 401(k) loan
The Vanguard Group said new data showed around 13% of its customers took out a loan on their 401(k) retirement funds in 2023. Elizabeth O'Brien, senior personal finance reporter at Barrons, joins CBS News to discuss the pros and cons of tapping into your 401(k).
U.S. approaches "Peak 65"
Many Americans are approaching retirement age in 2024, with more than 11,000 turning 65 years old every day. Elizabeth O'Brien, a personal finance senior reporter with Barron's, joins CBS News with advice for those considering retirement.
401(k) opportunities from market volatility
If you're looking to grow your 401(k) you may need to keep an eye on it more than usual this year as an unsettled market presents opportunities. Bourree Lam, an author of The Wall Street Journal book "The New Rules of Money," joined CBS News to talk about ways to increase your retirement fund.
Where $1M in retirement savings will last the longest around the U.S.
How far retirees are able to stretch their savings depends largely on where they choose to settle down, one analysis shows.
U.S. gets a C+ in retirement, on par with Kazakhstan and Colombia
The nation's system of Social Security and private savings leaves Americans less secure in retirement than residents of many other nations, a new study finds.
IRS catch-up contribution mandate delayed
Last week, the IRS announced it is delaying until 2026 a mandate that says people 50 and older with high incomes are required to put "catch-up contributions" into Roth-style retirement accounts using post-tax dollars. Richard Rubin, a U.S. tax policy reporter for the Wall Street Journal, joined CBS News to discuss the delay in enforcement of the law, originally set to take effect next year.
Disparity in access to retirement plans
A new study by the Economic Innovation Group has found more than a quarter of Americans 59 and older don't have any retirement savings, and more than half of U.S. workers don't have access to employer-sponsored retirement funds. Benjamin Glasner, associate economist with the Economic Innovation Group, joined CBS News to discuss the study's conclusions.
Half of Americans lack a retirement plan. Here are the worst states.
States with many workers without retirement savings are likely to face a spike in senior poverty, researchers say.
Millions of older workers are nearing retirement with nothing saved
Over the next few years, the U.S. could see a surge in seniors living in poverty, one retirement expert predicts.
How much money do you need to retire? Americans have a magic number.
People say they need more money than ever to retire comfortably, but most employees are far from reaching their financial goal.
Millions to lose popular 401(k) tax break
The loss of a popular tax deduction next year could reshape how millions of Americans save for retirement. Currently, people ages 50 and older are allowed to place "catch-up contributions" totaling up to $30,000 in their 401(k) accounts. But beginning in 2024, these funds will be funneled only into "after-tax" Roth accounts for people who made more than $145,000 the previous year. For more on this, CBS News was joined by Pratik Patel, head of family wealth strategies for integrated wealth management provider BMO Family Office.
Millions of Gen-Xers have almost nothing saved for retirement
"The American Dream of retirement is going to be a nightmare for too many Gen-Xers," one expert said.
Half of U.S. moms have no retirement savings
A recent analysis showed that half of U.S. mothers have no retirement savings compared to 30% of fathers. Elaine Quijano and Meg Oliver are joined by CBS News MoneyWatch associate managing editor Aimee Picchi to break down the data.
Expert tips on preparing for next tax season
Tax season comes to a close Tuesday. Thomas Godwin, an assistant professor of accounting at Purdue University, joins Elaine Quijano and Michael George to look ahead to next year's tax season and offer advice on how Americans can begin planning for it.
Risks of early 401(k) withdrawals
Both 401(k) withdrawals and loans can have big impacts on retirement savings. Stefanie O’Connell Rodriguez, host of Real Simple’s "Money Confidential" podcast, explains the risk and differences.
Setting money aside for emergencies
CBS News' Errol Barnett and Elaine Quijano are joined by behavioral economist and founder of Pension Plus, Shlomo Bernartzi, to discuss strategies for putting money away for the future.
Millions of Americans nearing retirement age with no savings
According to U.S. Census Bureau data, 50% of women and 47% of men between the ages of 55 and 66 have no retirement savings.
Millions nearing retirement without savings
About half of all Americans ages 55 to 66 have no retirement savings, according to U.S. Census data. Janet Shamlian examines the financial struggles many face as they near retirement in the CBS News series "Retirement Ready."
Preparing emotionally for retirement
Millions of Americans are retiring every day, and some experts say it's just as important to prepare for the change emotionally as it is financially. Janet Shamlian takes a look in this edition of "Retirement Ready."
More Americans are tapping their 401(k) plans due to hardship
More employees are tapping their nest eggs to cover financial emergencies, from medical care to avoiding eviction.
Debt ceiling: 3 ways your finances could be affected
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
Walmart isn't paying workers enough and $20 an hour is needed, says author
"We don't have time for incrementalism anymore," said author Rick Warztman.
Congress making it easier to save for retirement — here's how
Experts say new legislation will make it easier to put money away, including for millions of Americans with student loans.
Hardship withdrawals from 401(k) plans hit record high
More Americans are taking retirement savings out of their accounts due to an "an immediate and heavy financial need."
Listen Live: Supreme Court considers Trump's immunity claim in 2020 election case
The Supreme Court convenes Thursday to consider whether former President Donald Trump is entitled to broad immunity from criminal charges in the 2020 election case.
Harvey Weinstein's 2020 rape conviction overturned by New York court
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
live updates
Trump trial live updates as David Pecker testifies for third day
Follow live updates of Donald Trump's New York criminal trial, where former National Enquirer boss David Pecker is testifying for the third day.
Palestinians thank U.S. students for support as Netanyahu condemns them
As Israel's leader equates U.S. university protests to rallies in Nazi Germany, Palestinian students tell CBS News what the support means to them.
Haiti Prime Minister Ariel Henry resigns, paving way for new government
Haiti's embattled leader Ariel Henry has resigned as prime minister weeks after agreeing to step aside in a bid to quell months of bloodshed.
18 indicted in alleged 2020 fake Arizona elector scheme
An Arizona grand jury indicted 18 people in connection with an alleged attempt to use alternate electors after the 2020 election.
U.S. birth rate drops to record low, ending pandemic uptick
CDC's provisional figures show a 2% decline in births from 2022 to 2023.
Man indicted in cold case killing of retired Indiana farmer
William Ray Grimes was indicted on charges of murder and burglary in the 2012 slaying of Lowell Badger, police said.
Secret Service agent assigned to Kamala Harris exhibits "distressing behavior"
Two sources briefed on the situation told CBS News the agent spouted gibberish, was speaking incoherently and provoked another officer physically.
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Trump trial live updates as David Pecker testifies for third day
Follow live updates of Donald Trump's New York criminal trial, where former National Enquirer boss David Pecker is testifying for the third day.
Harvey Weinstein's 2020 rape conviction overturned by New York court
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Man, dog vanish in Grand Canyon after apparent homemade raft trip
A photo of the raft the man is believed to have used shows just a few long planks assembled together.
U.S. economic growth slows as consumers tighten their belts
Real GDP increased at an annual rate of 1.6% in the first quarter of 2024, according to initial estimate.
Trial over jet fuel contamination in Hawaii's water set to begin
More than two years after jet fuel leaked into the system supplying water to almost 93,000 people in Hawaii, families impacted are taking the U.S. government to trial.
MoneyWatch
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U.S. economic growth slows as consumers tighten their belts
Real GDP increased at an annual rate of 1.6% in the first quarter of 2024, according to initial estimate.
EPA issues toughest rule yet on power plant emissions
Coal-fired power plants would have to capture smokestack emissions or shut down under a new EPA rule the industry says would make the grid less reliable. It's likely to face court challenges.
5 things to know about the new federal ban on noncompete agreements
Proponents say a sweeping ban on noncompete clauses should boost workers, but the new rules face serious legal challenges.
Bird flu outbreak is driving up egg prices — again
Egg prices are jumping as an outbreak of highly pathogenic avian influenza forces producers to slaughter millions of infected birds.
What airline passengers should know about their rights to get refunds
New Transportation Department rules could save consumers $500 million annually, Transportation Secretary Pete Buttigieg said.
Politics
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live updates
Trump trial live updates as David Pecker testifies for third day
Follow live updates of Donald Trump's New York criminal trial, where former National Enquirer boss David Pecker is testifying for the third day.
EPA issues toughest rule yet on power plant emissions
Coal-fired power plants would have to capture smokestack emissions or shut down under a new EPA rule the industry says would make the grid less reliable. It's likely to face court challenges.
Listen Live: Supreme Court considers Trump's immunity claim in 2020 election case
The Supreme Court convenes Thursday to consider whether former President Donald Trump is entitled to broad immunity from criminal charges in the 2020 election case.
18 indicted in alleged 2020 fake Arizona elector scheme
An Arizona grand jury indicted 18 people in connection with an alleged attempt to use alternate electors after the 2020 election.
Secret Service agent assigned to Kamala Harris exhibits "distressing behavior"
Two sources briefed on the situation told CBS News the agent spouted gibberish, was speaking incoherently and provoked another officer physically.
HealthWatch
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U.S. birth rate drops to record low, ending pandemic uptick
CDC's provisional figures show a 2% decline in births from 2022 to 2023.
3 times you shouldn't brush your teeth, according to dental experts
Don't brush your teeth after breakfast? Or after vomiting? Dentists say it can wear away your enamel. Here's what to do instead.
U.S. orders cow testing for bird flu after grocery milk tests positive
Federal officials say they're double checking whether pasteurization has eradicated the danger from possible bird virus particles in milk.
Doctors perform first combined heart pump and pig kidney transplant
For the first time, surgeons at NYU Langone Health performed a combined mechanical heart pump and gene-edited pig kidney transplant into a living person.
Chocolate milk can stay in school lunch program, Biden administration decides
The USDA had floated banning flavored milk options from some school lunches.
World
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29 whales dead after stranding in Australia; over 100 rescued
A mass stranding of long-finned pilot whales in Western Australia led to the deaths of 29 of the creatures that beached near a tourist town.
Haiti Prime Minister Ariel Henry resigns, paving way for new government
Haiti's embattled leader Ariel Henry has resigned as prime minister weeks after agreeing to step aside in a bid to quell months of bloodshed.
Windmill sails mysteriously fall off Paris' iconic Moulin Rouge cabaret
The renowned Moulin Rouge cabaret venue's director has vowed to "rise to the challenge" after the windmill's sails fell off.
Why Swifties have descended upon a small pub in London
Taylor Swift fans have found a way to feel "a little bit closer to" their hero at a London watering hole, and The Black Dog pub is lapping it up.
Palestinians thank U.S. students for support as Netanyahu condemns them
As Israel's leader equates U.S. university protests to rallies in Nazi Germany, Palestinian students tell CBS News what the support means to them.
Entertainment
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Windmill sails mysteriously fall off Paris' iconic Moulin Rouge cabaret
The renowned Moulin Rouge cabaret venue's director has vowed to "rise to the challenge" after the windmill's sails fell off.
Why Swifties have descended upon a small pub in London
Taylor Swift fans have found a way to feel "a little bit closer to" their hero at a London watering hole, and The Black Dog pub is lapping it up.
Jerry Seinfeld, Jim Gaffigan talk "Unfrosted”
Jerry Seinfeld and Jim Gaffigan reunite in the new movie "Unfrosted," directed by Seinfeld. The film humorously depicts the 1963 race between cereal giants Kellogg's and Post to invent the first breakfast pastry, featuring Seinfeld as a fictional Kellogg's executive and Gaffigan as the CEO.
Beyoncé sends 2-year-old Philippines boy flowers after viral video
Two-year-old Tyler Fabregas asked his mother "Where's Beyoncé?" in a viral TikTok video she posted last week from Manila.
Blake Shelton debuts new venue in Las Vegas
Country music star Blake Shelton expands his popular bar and music venue 'Ole Red' from Nashville to Las Vegas. This opening coincides with Shelton stepping back from his prominent TV roles.
Technology
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Why U.S. officials want to ban TikTok
Lawmakers argue the Chinese government can use the widely popular video-sharing app as a spy tool and to covertly influence the U.S. public.
NASA's Voyager 1 fixed from billions of miles away
NASA's Voyager 1, the first spacecraft to travel beyond our solar system, has started sending information back to Earth again after scientists managed to fix the probe from 15 billion miles away.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Amazon rolls out grocery delivery for Prime members, SNAP recipients
Customers who rely on government assistance programs can get same perks as Prime members, for less.
National security concerns over microchips
Secretary of Commerce Gina Raimondo is at the center of a global competition for semiconductor dominance. It's a battle that also puts her at the center of two of the hottest global national security hotspots. Lesley Stahl of 60 Minutes spoke with Raimondo for the broadcast.
Science
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Science
Cicada noise in S.C. prompts calls to sheriff
Emerging cicadas are so loud in one South Carolina county that residents are calling the sheriff's office asking why they can hear a "noise in the air that sounds like a siren, or a whine, or a roar." CBS News' John Dickerson has details.
Plastic pollution treaty negotiations
Representatives from across the world are gathering in Ottawa, Canada, to negotiate a potential treaty to limit plastic pollution. CBS News national environmental correspondent David Schechter has the latest on the talks.
Cicadas are so loud that South Carolina residents are calling police
"Although to some, the noise is annoying, they pose no danger to humans or pets," the sheriff wrote. "Unfortunately, it is the sounds of nature."
Biden considers climate emergency declaration
The White House is considering declaring a national climate emergency to unlock federal powers and stifle oil development, according to a Bloomberg report. Meanwhile, the Biden administration is announcing several projects this Earth Week. Columbia University Climate School professor Dr. Melissa Lott joins with analysis.
NASA's Voyager 1 fixed from billions of miles away
NASA's Voyager 1, the first spacecraft to travel beyond our solar system, has started sending information back to Earth again after scientists managed to fix the probe from 15 billion miles away.
Crime
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Crime
Harvey Weinstein rape conviction overturned
A New York appeals court overturned Harvey Weinstein's 2020 conviction on felony sex crimes. The court ruled that the disgraced movie mogul did not have a fair trial because the judge who presided over the case allowed women to testify about allegations that were not part of the charges against him. Weinstein will remain in prison because of his rape conviction in Los Angeles.
Harvey Weinstein's 2020 rape conviction overturned by New York court
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Man indicted in cold case killing of retired Indiana farmer
William Ray Grimes was indicted on charges of murder and burglary in the 2012 slaying of Lowell Badger, police said.
Are dating apps making it easier for scams?
All this week, CBS News has been investigating online romance scams. In this final installment, Jim Axelrod looks at what law enforcement and lawmakers can do -- but also why it's important for the online dating industry to police itself.
5th person charged in killing of 2 Kansas moms, officials say
Paul Grice, 31, was arrested and charged by Oklahoma authorities with murder and kidnapping in connection to the deaths of Veronica Butler and Jilian Kelley.
Space
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Distant spacecraft sends data to Earth for first time in 5 months
In November 2023, NASA's Voyager 1 spacecraft stopped sending "readable science and engineering data."
Astronaut on eclipse, private spaceflight
In two weeks, Boeing's Starliner spacecraft is scheduled to launch its first piloted test flight, bringing two veteran NASA astronauts to the International Space Station. Astronaut Matt Dominick joined CBS News from the ISS to talk about the mission and life in space.
Could some species dying on Earth be saved in outer space?
A process called cryopreservation allows cells to remain frozen but alive for hundreds of years. For some animal cells, the moon is the closest place that's cold enough.
Lyrid meteor shower to peak tonight. Here's what to know
The Lyrid meteor show is set to peak as the week begins.
When and where you can see April's Pink Moon
April's full moon, known as the Pink Moon, will reach peak illumination on Tuesday, but it will appear full from Monday morning through Thursday morning.
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
PHOTOS: Baltimore bridge collapses after cargo ship rams into overpass
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
Could an Alabama woman have shot herself twice?
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
CBS newsman Charles Osgood (1933-2024)
We look back at the life and career of the longtime host of "Sunday Morning," and "one of the most enduring and most endearing" people in broadcasting.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
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Protests over Gaza war ramp up on campuses
Another tense day of protests over the Israel-Hamas war is expected on college campuses across the country on Thursday. Hundreds of people have already been arrested since the demonstrations began. CBS News Boston reporter Penny Kmitt reports.
2 historic Trump cases in court
Former President Donald Trump's lawyers are in for a long day with the Supreme Court hearing Trump's immunity claim in Washington, D.C., and testimony resuming in his "hush money" case in New York. CBS News' Rob Legare and Errol Barnett have the latest on the two cases. And CBS News legal analyst Rikki Klieman has a breakdown of the New York case.
Harvey Weinstein rape conviction overturned
A New York appeals court overturned Harvey Weinstein's 2020 conviction on felony sex crimes. The court ruled that the disgraced movie mogul did not have a fair trial because the judge who presided over the case allowed women to testify about allegations that were not part of the charges against him. Weinstein will remain in prison because of his rape conviction in Los Angeles.
Sneak peek: Kristen Trickle: Autopsy of the Mind
A Kansas woman is found dying from a gunshot wound. Evidence at the scene doesn’t add up, so a prosecutor gets creative. "48 Hours" correspondent Erin Moriarty reports Saturday, April 27 at 10/9c on CBS and streaming on Paramount+.
Where to get the latest CBS Mornings Deals
On this edition of CBS Mornings Deals, Elizabeth Werner shows us items that might just become essentials in your everyday life. Visit cbsdeals.com to take advantage of these exclusive deals today. CBS earns commissions on purchases made through cbsdeals.com.