For those in their 40s, planning for retirement should include saving for the unexpected
If you're in your 40s, paying for a child's college should take a back seat to protecting your own savings, financial experts say.
401k
Planning to retire at 65? Most Americans have to stop working earlier.
Most Americans are forced to retire earlier than they had expected, often disrupting their financial planning.
Saving for retirement a challenge for the "sandwich generation"
Many people in their 50s are part of the so-called "sandwich generation" of workers who support both young relatives and aging parents.
The "sandwich generation" and retirement
Many people in their 50s are part of the so-called "sandwich generation" of workers who support both young relatives and aging parents. Roughly 5 million U.S. households fall into this category, and as a result, the sandwich generation faces challenges saving for retirement. Jill Schlesinger explains.
IRS ruling on 401(k) company match
A new Internal Revenue Service ruling on 401(k) company matches could change the way employees apply the contributions made by their employers. CBS News senior business and technology correspondent Jo Ling Kent has more.
Changing jobs? Some 401(k) tips
When changing jobs, there are a couple of choices you can make with your 401(k) plan. CBS News business analyst Jill Schlesinger breaks down the options to consider.
Gen Xers are nearing retirement. About half say they need a miracle.
Older Gen Xers are turning 59 ½ this month, when they can withdraw retirement assets without a penalty. But many don't have enough saved.
Some 401(k) plans may cut you a monthly check
Some companies are offering fixed monthly checks from a portion of workers' 401(k) retirement plans, according to a new report by the Wall Street Journal. CBS News contributor Javier E. David breaks down the process gaining momentum.
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.
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.
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.
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.
Live
No new Iran negotiations planned despite Trump comments, U.S. officials say
President Trump, who called Tehran "unbelievably duplicitous," said the talks are the "last chance" for Iran to forge a deal and avoid an escalation.
Trump says Jeanine Pirro "choked" in dropping Reflecting Pool cases
"She folded like an umbrella," President Trump said of Jeanine Pirro, U.S. Attorney for the District of Columbia.
Justice Dept. moves to dismiss Jan. 6 class action lawsuit
The Justice Department argued that the Jan. 6, 2021, rioters had until Jan. 6, 2023, to sue the federal government under the Federal Tort Claims Act, missing the deadline to file a lawsuit by over two years.
Sheriff in Nancy Guthrie case contradicted himself on ransom note
Investigators in the disappearance of Nancy Guthrie released two ransom notes, including one contradicting what the Arizona sheriff overseeing the case told CBS News.
Trump raises concerns in call with Rep. Max Miller amid abuse allegations
Ohio Rep. Max Miller's reelection campaign has been upended by allegations that Miller assaulted his ex-wife, Emily Moreno, and their 2-year-old daughter.
Twin Falls In-N-Out shooting suspect identified after 3 killed, 7 wounded
The suspect, identified as 24-year-old Chad Williams, died from a self-inflicted gunshot wound, police said.
More Lincoln Memorial Reflecting Pool charges dropped by Pirro's office
Since Friday, D.C. U.S. Attorney Jeanine Pirro's office has dropped charges against three more people accused of vandalism.
Cornyn, Tillis back Blanche for attorney general after deal on DOJ fund
GOP Sens. John Cornyn of Texas and Thom Tillis of North Carolina formally announced their support on Monday for Todd Blanche's nomination for attorney general.
Senate candidate El-Sayed questions assumption Michigan voters are moderates
Populist Abdul El-Sayed and Rep. Haley Stevens top the Democratic field going into Tuesday's Senate primary. Former Rep. Mike Rogers is running unopposed for the GOP nomination.
U.S.
More U.S.
Trump raises concerns in call with Rep. Max Miller amid abuse allegations
Ohio Rep. Max Miller's reelection campaign has been upended by allegations that Miller assaulted his ex-wife, Emily Moreno, and their 2-year-old daughter.
More Lincoln Memorial Reflecting Pool charges dropped by Pirro's office
Since Friday, D.C. U.S. Attorney Jeanine Pirro's office has dropped charges against three more people accused of vandalism.
Washington wildfires leave some residents with nothing: "Nightmare situation"
More than 700 buildings in the Spokane area have been destroyed, and another 400 have yet to be assessed, officials said Monday as three fires burned in the area.
Justice Dept. moves to dismiss Jan. 6 class action lawsuit
The Justice Department argued that the Jan. 6, 2021, rioters had until Jan. 6, 2023, to sue the federal government under the Federal Tort Claims Act, missing the deadline to file a lawsuit by over two years.
Senate candidate El-Sayed questions assumption Michigan voters are moderates
Populist Abdul El-Sayed and Rep. Haley Stevens top the Democratic field going into Tuesday's Senate primary. Former Rep. Mike Rogers is running unopposed for the GOP nomination.
MoneyWatch
More MoneyWatch
25 states sue Trump administration over latest round of tariffs
New U.S. tariffs are hurting consumers and businesses, California's attorney general said in filing suit to block levies on 60 countries.
Trump says oil companies should cut gas prices after making "too much money"
President Trump said U.S. oil companies made "too much money" from high oil prices. "I'm not happy about it," he added.
What to watch for in SpaceX's first public earnings report this week
SpaceX will release its first earnings report as a public company on Tuesday in a key test for the company's stuttering stock price.
JPMorgan Chase to invest $750 billion in boosting housing and homebuying
JPMorgan Chase said the investment will include financing for 1 million affordable housing units and assistance to 500,000 people in buying homes.
Federal workers sour on government work, decrying eroding job security
Nearly two-thirds of current and retired U.S. government workers said they wouldn't re-enter public service, according to a recent survey.
Politics
More Politics
Trump raises concerns in call with Rep. Max Miller amid abuse allegations
Ohio Rep. Max Miller's reelection campaign has been upended by allegations that Miller assaulted his ex-wife, Emily Moreno, and their 2-year-old daughter.
More Lincoln Memorial Reflecting Pool charges dropped by Pirro's office
Since Friday, D.C. U.S. Attorney Jeanine Pirro's office has dropped charges against three more people accused of vandalism.
Justice Dept. moves to dismiss Jan. 6 class action lawsuit
The Justice Department argued that the Jan. 6, 2021, rioters had until Jan. 6, 2023, to sue the federal government under the Federal Tort Claims Act, missing the deadline to file a lawsuit by over two years.
Senate candidate El-Sayed questions assumption Michigan voters are moderates
Populist Abdul El-Sayed and Rep. Haley Stevens top the Democratic field going into Tuesday's Senate primary. Former Rep. Mike Rogers is running unopposed for the GOP nomination.
Trump administration finalizes AI framework, official says
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
HealthWatch
More HealthWatch
HealthWatch
Michigan reports 2 cyclosporiasis deaths
Two people have died of cyclosporiasis in Michigan, officials said Monday, as the state battles the worst outbreak of the disease in the country. Carter Evans has the details.
Michigan health officials report 2 deaths among cyclosporiasis cases
Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said.
RFK Jr., Oz blame ACA enrollment drop on fraud, but experts cite rising costs
Rising premiums forced many people in Affordable Care Act plans to give up their coverage. But the Trump administration claims a huge drop in enrollment is almost entirely due to its fraud crackdown.
She went to "hell and back" for a diagnosis. Then her sister showed symptoms.
Megan Kaverman's weight gain, fatigue, high blood pressure and other symptoms were dismissed for years before she was diagnosed with a rare heart disease.
Peptide vendor sentenced for "trail of harm"
A federal judge sentenced the owner of a peptide company to nearly 6 years in prison for deceiving customers and selling products adulterated with steroids, citing a "trail of harm." Adam Yamaguchi reports.
World
More World
Funeral held for family "wiped off the map" in Russian strike
At least two adults and four children were killed in the strike but the death toll could be higher as all the remains have not yet been formally identified.
Human remains exhumed at WWII massacre site in Ukraine
It is believed that 30 to 40% of the 50 remains so far discovered at the site were children.
Morocco blames Ceuta border surge on misleading info spread online
Morocco is blaming a massive surge of migrants into Ceuta on various factors, including "malicious exploitation of digital platforms" and the spread of misleading information.
Live
No new Iran negotiations planned despite Trump comments, U.S. officials say
President Trump, who called Tehran "unbelievably duplicitous," said the talks are the "last chance" for Iran to forge a deal and avoid an escalation.
Suspect arrested in Greece after U.K. woman's body found in suitcase
Police say the suspect transported the body to an abandoned site in a suitcase and subsequently used her bank cards to withdraw money.
Entertainment
More Entertainment
Entertainment
Hollywood on hot streak at the box office
"Spider-Man: Brand New Day" leapt straight to the top of the box office this weekend. Its $360 million opening weekend debut is the biggest in U.S. history. Marlow Stern, chief correspondent at Variety, joins CBS News to discuss all the latest movie news.
"My Favorite Person" takes over socials
A social media trend encouraging users to share what they love about their favorite person is bringing light to TikTok and other platforms.
Ariana Grande to step out of public eye
A representative for pop star Ariana Grande says the singer is planning to step out of the public eye after wrapping her ongoing Eternal Sunshine Tour amid "endless, ongoing public scrutiny." Grande has also dropped out of the London-based musical "Sunday in the Park with George," which is set to open next year.
New Spider-Man movie breaks box office records
At the box office, "Spider-Man: Brand New Day" swung to a massive $360 million in its domestic debut, making it the biggest opening weekend ever. Brooks Barnes, chief Hollywood correspondent for The New York Times, joins to discuss.
Why the 2027 Met Gala is already causing controversy
Designer John Galliano is known for his theatrical and dramatic designs, but his legacy is also marked by antisemitic and racist comments.
Technology
More Technology
Trump administration finalizes AI framework, official says
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
U.S. probes cyberattack on water systems
Lauryn Williams, the deputy director and senior fellow of the Strategic Technologies Program at the Center for Strategic and International Studies, joins to discuss the U.S. probe into Iran possibly targeting water systems in Michigan and Minnesota.
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.
Hugging Face CEO calls hack by rogue OpenAI model "very weird and unprecedented"
An artificial intelligence model that was being tested by OpenAI went rogue and hacked the firm Hugging Face on its own, in what Hugging Face CEO Clément Delangue called a "very weird and unprecedented" incident.
CEO of AI firm Hugging Face on OpenAI hack
ChatGPT maker OpenAI revealed that its technology hacked into another AI company on its own during internal testing. Hugging Face CEO Clement Delangue, whose company was hacked, described the "very weird and unprecedented" incident in an interview on "Face the Nation with Margaret Brennan" -- and offered suggestions on how future incidents could be prevented.
Science
More Science
Rare footage of humpback whale birth captured on drone video
The footage is believed to be only the fourth complete humpback whale birth ever recorded on film anywhere in the world and the first-ever captured by drone.
Rare video shows humpback whale birth
A photographer operating a drone off the coast of Australia captured a humpback whale giving birth. It's believed to be the first time such a birth has been recorded by a drone.
How plants feel
Science shows us that, even though plants don't have brains, they seem to have a nervous system that responds to touch in remarkable ways. Robert Krulwich and puppeteer Barnaby Dixon explore the science of thigmomorphogenesis (the phenomenon of plants reacting to outside stimulae), a discussion that plants the seeds for a song.
Nearly 30 beluga whales sent to the U.S.
Nearly 30 beluga whales were sent to aquariums across the U.S. in a multinational emergency operation after their home aquarium in Canada shuttered. Jared Ochacher reports.
SpaceX launches first rocket since IPO
Elon Musk's aerospace company, SpaceX, launched its massive Starship rocket in its first test flight since the company went public. Since achieving the largest IPO in history, SpaceX's stock has dropped drastically. Mark Strassmann takes a look.
Crime
More Crime
Crime
Questions about Nancy Guthrie ransom notes
Pima County Sheriff Chris Nanos told CBS News last Thursday that he didn't have a ransom note saying Nancy Guthrie was dead. But one day later he released a note saying just that. CBS News' Anna Schecter reports.
New details in Idaho In-N-Out shooting
New information is coming out about the shooting at an In-N-Out restaurant in Idaho that killed three people over the weekend. CBS News' Lilia Luciano reports.
Sheriff in Nancy Guthrie case contradicted himself on ransom note
Investigators in the disappearance of Nancy Guthrie released two ransom notes, including one contradicting what the Arizona sheriff overseeing the case told CBS News.
Nancy Guthrie ransom notes released
Six months after Nancy Guthrie went missing, the Pima County, Arizona, sheriff has released two ransom notes, including one that claims Guthrie died "shortly after she was taken." Jonathan Vigliotti reports.
Deadly shooting at Idaho In-N-Out
Officials say three people were killed and seven were injured in a shooting at an In-N-Out in Idaho over the weekend. Officials believe the shooter acted alone and are investigating possible motives. Lilia Luciano reports.
Space
More Space
Russian Soyuz brings three home after 8 months at space station
The Soyuz MS-28 landing in Kazakhstan brought a 241-day stay in space to a successful conclusion.
SpaceX's Super Heavy-Starship blasts off on 13th test flight
An upgraded version of the world's most powerful rocket is key to landing NASA astronauts on the moon in the agency's Artemis program.
Meteorite that hit home contains "alien world chemistry," experts say
When scientists examined the preserved fragments of a meteorite that crashed in 2024, they found brine-like fluids and key molecules.
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
Latest Galleries
More Latest Galleries
Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Summer music highlights of 2026
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.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
8/3: The Takeout with Major Garrett
Trump says he's giving Iran a "last chance" at diplomacy; Blanche one step closer to confirmation as attorney general.
Hollywood on hot streak at the box office
"Spider-Man: Brand New Day" leapt straight to the top of the box office this weekend. Its $360 million opening weekend debut is the biggest in U.S. history. Marlow Stern, chief correspondent at Variety, joins CBS News to discuss all the latest movie news.
Survey finds discontent among federal workers
According to the National Active and Retired Federal Employees Association, 64% of workers say it's unlikely they would choose a federal career again. CBS News MoneyWatch reporter Megan Cerullo has more.
Latest on In-N-Out Idaho shooting
Three people were killed by a 24-year-old gunman at an In-N-Out in Twin Falls, Idaho, on Saturday. Lilia Luciano breaks down what we know.
Fallout after OpenAI hacking incident
Matt Shumer, CBS News AI contributor, shares his thoughts on last month's incident where a rogue OpenAI model that was being tested hacked an outside company's data processing system.