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Baby Boomers are rightfully stressed out how to manage their nest eggs. Saving up for retirement was hard enough. But now there's the nightmare job of figuring out how much monthly income you can safely withdraw from 401(k)s and IRAs. Safe as in: Your money won't run out before you do.
Withdrawing or borrowing against your retirement account, whether an IRA or a 401(k), is usually a rotten idea. But if you must, here are your options.
People retiring before age 65 (the eligibility age for Medicare) may still face high costs for medical insurance, even after passage of health care reform. However, health care reform does provide some good news for early retirees who don't have affordable retiree medical insurance through their employer.
Now comes the hard part for 401(k) participants: Figuring out how to make their money last through what is looking like a very long retirement. But a key data point is missing from 401(k) statements that would be a huge help in solving this puzzle. What's needed is a simple line-item in every statement that shows what your current lump sum could generate in monthly income in retirement. But will Washington or plan sponsors step up and make sure Americans have this key piece of information?
There are two economies out there: the public one and the private one. And the private economy isn't doing too well.
Various mutual fund families can have different opinions on the appropriate asset allocation for a specific retirement date. It definitely pays to "look under the hood" of target date funds and not just rely on a number on the calendar!
International bond funds seem like the answer to a retirement investors' worries at a scary time for bond investors. But it's not that simple.
Have a 401(k) from a previous job? You need to roll it over into an account with a brokerage. Jill Schlesinger gives us the 3 easy steps.
A reader asks is there is tax relief for withdrawals from IRA to pay his bills and relief from investment losses. Ray provides the answers.
Nearly two -thirds of wealthy Americans agree with President Obama that they should be paying more income tax. But that at best will put a dent in the deficit; and when it comes to the bigger-ticket deficit reduction moves, Americans are still in deep denial about what needs to happen.
Don't be clueless about how much money you need to retire and how much you should be saving for retirement. Inform yourself by using an online retirement calculator. Here's what to look for when selecting a retirement calculator.
Everyone seems to think something terrible will happen if they give away more than $13,000. Fact is, almost no one ever pays a gift tax.
Knowing what mistakes not to make in a job hunt can be just as helpful as knowing the right moves. A recent study details the costly bad assumptions that are holding back unemployed older Baby Boomers. Their mistakes can serve as good template for what you'll want to guard against in the coming years.
The high cost of retiree medical insurance and the barriers to coverage due to pre-existing conditions have long been a significant obstacle for most Americans who want to retire before age 65, the eligibility age for Medicare. The health reform bill helps some people, but the high cost of retiree medical insurance will still be a challenge for many Americans.
For families that are maxing out on 401(k)s and IRAs each year, there's another great tax-advantaged way to save for retirement. Max out on an HSA and you will effectively boost your retirement savings 14%.
Mo Strategies, started by former Trump campaign and administration officials, recently expanded its practice into the lucrative world of pardon lobbying.
After conflicting remarks from Iran and the U.S., the U.N. nuclear agency chief says Iranian sites will be inspected, but the timing is "not essential."
Soldiers say the Army disregarded warnings about thin defenses and ignored requests for medical supplies. Now they question whether the Army is being transparent about their injuries.
The searches stemmed from an ongoing probe into the conduct of former NYPD Chief of Department Jeffrey Maddrey, a source told CBS News.
Those who were fired and sent to their home agencies didn't have tasks, or their assigned tasks were outdated, a source said.
New York City Mayor Zohran Mamdani endorsed three left-of-center candidates in the congressional Democratic primaries, and all three are set to win, CBS News projects.
The camp listed its debt as exceeding $10 million.
President Trump is set to attend a lunch meeting with Senate Republicans to push for an elections bill that GOP leaders have said has no chance of passing.
Gen. Chris Donahue had clashed with Defense Secretary Pete Hegseth, multiple sources told CBS News.
President Trump is set to sign a landmark housing bill into law, after lawmakers came together in a rare bipartisan breakthrough to address the affordability issue.
A new murder trial is scheduled for Richard Glossip, a former Oklahoma death row inmate who was released on bond last month after being on the brink of execution three times.
The boy was on a tour of the Bahamas' Exuma Cays with his family when the attack occurred, the Royal Bahamas Police Force said.
President Trump is set to attend a lunch meeting with Senate Republicans to push for an elections bill that GOP leaders have said has no chance of passing.
The searches stemmed from an ongoing probe into the conduct of former NYPD Chief of Department Jeffrey Maddrey, a source told CBS News.
Get clear, actionable financial advice starting June 30 wherever you get your podcasts.
Chinese tech giant Alibaba has filed a federal lawsuit against the Defense Department for designating it a military-linked firm.
The legislation aims to increase housing supply and lower costs. It marks a rare bipartisan legislative accomplishment for lawmakers.
President Trump's construction projects include restoring the Lincoln Memorial Reflecting Pool, building a 90,000-square-foot White House ballroom and a 250-foot triumphal arch.
The ruling deals a setback to the "Make America Healthy Again" campaign, which seeks to curb purchases of foods officials say are unhealthy.
President Trump is set to sign a landmark housing bill into law, after lawmakers came together in a rare bipartisan breakthrough to address the affordability issue.
President Trump is set to attend a lunch meeting with Senate Republicans to push for an elections bill that GOP leaders have said has no chance of passing.
Soldiers say the Army disregarded warnings about thin defenses and ignored requests for medical supplies. Now they question whether the Army is being transparent about their injuries.
Chinese tech giant Alibaba has filed a federal lawsuit against the Defense Department for designating it a military-linked firm.
Mo Strategies, started by former Trump campaign and administration officials, recently expanded its practice into the lucrative world of pardon lobbying.
Medicare is testing the use of artificial intelligence to preapprove several healthcare services.
Confirmed Ebola cases in the outbreak in eastern Congo have reached 1,003, including 254 deaths, officials said, and tracing those who've been in contact with patients remains a major challenge.
The Trump administration's cuts to Medicaid and SNAP may complicate Republican Gov. Joe Lombardo's reelection chances.
Hosted by Lee Cowan. Featured: Birthright citizenship; the Theodore Roosevelt Presidential Library unveiled; Shooter Jennings releases recordings by his father, Waylon Jennings; comedian John Mulaney; childhood obesity; and the secrets of seahorses and seadragons.
In 1970, about 1 in 20 children were affected by obesity; today, it's 1 in 5. Dr. Jonathan LaPook looks at programs aimed at helping kids (and their families) get healthy the old-fashioned way, by eating right and exercising.
The boy was on a tour of the Bahamas' Exuma Cays with his family when the attack occurred, the Royal Bahamas Police Force said.
After conflicting remarks from Iran and the U.S., the U.N. nuclear agency chief says Iranian sites will be inspected, but the timing is "not essential."
A North Korean soldier has been taken into custody after crossing the Demilitarized Zone into South Korea in a suspected defection, the Yonhap news agency says.
Peru's right-wing presidential candidate Keiko Fujimori built what may be an unassailable lead as vote counting for the runoff election entered its final stages, official figures showed.
The Senate approved a House-passed resolution aimed at reining in President Trump on Iran, marking the first time such a measure has made it through both chambers.
Multiple Grammy-winning music executive Clive Davis, who helped launch the careers of such artists as Barry Manilow, Bruce Springsteen, Whitney Houston and Alicia Keys, died on June 22, 2026 at age 94. In this Oct. 23, 2011 "Sunday Morning" profile, Anthony Mason talked with Davis about his "accidental" career in music, and his comeback after losing his job as head of Columbia Records in the early '70s. Mason also attended one of Davis' legendary pre-Grammy parties, where Jennifer Hudson spoke about what she'd learned from her mentor.
Record label executive and starmaker Clive Davis died at 94 on Monday. His influence spans genres and decades. Music critic and Davis biographer Anthony DeCurtis reflects on the life and legacy of Clive Davis.
Jim Parsons speaks about starring in the musical "Titaníque," which is a comedic retelling of the story of the "Titanic," from the perspective and songs of Celine Dion. Parsons talks about why he wanted to portray's Rose's mother, the show's impact on the LGBTQ+ community and the cast.
Clive Davis, known for propelling artists across genres to stardom, died Monday at the age of 94. "CBS Mornings" co-host Gayle King looks back at his legacy in the music industry.
A judge has found that a man charged with murder in the stabbing of actor James Handy isn't mentally competent for criminal court proceedings.
Investors are recoiling from tech stocks again over doubts that AI spending will pay off in the long run. Yahoo Finance's Brooke DiPalma explains the current state of the global stock market.
Stocks slid around the world on Tuesday as investors pulled back from some of the biggest names in tech amid concerns about ongoing inflation and the possibility of future interest rate hikes. CBS News' Jo Ling Kent has more.
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.
An international alliance warns that advanced artificial intelligence models are on the brink of being able to overwhelm cybersecurity systems for governments and businesses. Former CISA Director Chris Krebs joins with analysis.
A massive tech stock sell-off dragged down the S&P 500 and Nasdaq on Tuesday. CBS News senior business and technology correspondent Jo Ling Kent has the details.
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Hosted by Lee Cowan. Featured: Birthright citizenship; the Theodore Roosevelt Presidential Library unveiled; Shooter Jennings releases recordings by his father, Waylon Jennings; comedian John Mulaney; childhood obesity; and the secrets of seahorses and seadragons.
Seahorses are unique ocean inhabitants with a head like a horse, a pouch like a kangaroo, a tail like a monkey, and the ability to camouflage themselves like a chameleon. They also exhibit an unconventional gender dynamic, in that the males do the work of carrying around fertilized eggs. Correspondent Conor Knighton goes in search of these fascinating fish – and their equally fascinating cousins, seadragons – at the Birch Aquarium at the Scripps Institution of Oceanography in California.
The Defense Department released a third batch of UFO files on Friday, three weeks after its second drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
The Supreme Court recently decided to reinstate the conviction of the man accused of kidnapping and murdering 6-year-old Etan Patz in 1979, bringing the case back into the public eye. "After Etan" author Lisa Cohen shares her thoughts on how the Etan Patz kidnapping changed how the public viewed missing children's cases.
Authorities believe that two ransom notes addressed to Nancy Guthrie's family shortly after her disappearance are linked to the same person or group. CBS News' Anna Schecter has more.
Investigators familiar with the case believe it is likely that two ransom notes sent to Nancy Guthrie's family were written by the person or group that abducted her. While the first note demanded millions in bitcoin, the second claimed that Nancy Guthrie had died, albeit not purposefully, according to sources who reviewed the notes. CBS News' Bradley Blackburn has more details on the case.
A judge has found that a man charged with murder in the stabbing of actor James Handy isn't mentally competent for criminal court proceedings.
Two people were killed and a child was injured in a shooting inside a library in Chico on Monday, officials said.
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
The "Pink Planet," formally known as GJ504b, was discovered in 2013 and is technically not a planet but rather a "planetary-mass companion."
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
All three New York City candidates who were backed by Zohran Mamdani are projected to win their Democratic primaries. Meanwhile, South Carolina Attorney General Alan Wilson won the Republican gubernatorial runoff to face Democratic Rep. Jermaine Johnson in November. CBS News' Anthony Salvanto and Skyler Henry have more.
European officials are warning of a threat to life, especially for vulnerable people, as a dangerous heat wave passes over Europe. CBS News reporter Leigh Kiniry has the latest.
Dr. Pierre Elias, a cardiologist and medical director of AI at NewYork-Presbyterian and Columbia, explains the impact of artificial intelligence advancements in the medical field and how we can use AI without leaning on it too much.
UFC champion Conor McGregor speaks to "CBS Mornings" co-host Nate Burleson about the highs and lows of his career as he prepares to return five years after retiring.
New York City Mayor Zohran Mamdani proved his influence endures after three progressives he endorsed were projected to win their Democratic primaries. CBS News' Anthony Salvanto has more.