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."
More Americans are taking retirement savings out of their accounts due to an "an immediate and heavy financial need."
Stock app dangles a matching contribution to attract customers who may not have a company-based retirement plan.
Workers say they need 20% more than a year ago to retire, yet retirement savings are shrinking.
The tax agency said it is also boosting the contribution threshold for IRAs due to inflation.
Not every retirement account is the same. Finding a job with a great one could mean tens of thousands of dollars more when you retire.
As the economy remains uncertain, there are questions about how to best save for retirement. CBS News' Lana Zak has more on what retirement accounts could maximize your savings. Then, Harold Pollack, the Helen Ross Professor at the University of Chicago, joins Matt Pieper to discuss.
High inflation and fears of a recession have many Americans wondering what to do with their 401(k) retirement investments. Those fears have been magnified by U.S. stocks falling by at least 20% from their most recent peak in January. CBS News MoneyWatch reporter Aimee Picchi joined CBS News' Errol Barnett and Debra Alfarone to discuss.
The rising cost of consumer goods coupled with the stock market's decline is taking a devastating toll on Americans' retirement plans. This year's sell-off erased more than $3 trillion in value in retirement savings alone. John Leer, chief economist at Morning Consult, spoke with CBS News' Michelle Miller and Elaine Quijano about the affect on Americans' retirement plans.
U.S. stocks fell sharply on Thursday, pushing the Dow Jones below 30,000 for the first time since January 2021. Meanwhile, mortgage rates had their biggest one-week jump in 35 years after the Federal Reserve hiked interest rates to tame inflation. Bartie Scott, a senior economy editor for Business Insider, joins Carter Evans to discuss.
Making the right moves with your investments and retirement plan is key when the stock market is in free fall like it has been. Joe Saluzzi, partner and co-founder of Themis Trading spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about what to do with your portfolio.
If you work for a private company, one of the easiest ways to save for retirement is a company-sponsored 401(k) plan. Here's how you can take advantage of the retirement plan that's offered by many employers.
Millions of American's are losing money in their 401K as stocks fall. Frances Stacy, director of strategy at Optimal Capitol, joins CBS News with advice on how to protect your retirement funds.
Americans are paying record high prices at the pumps, as inflation fears wreak havoc on the stock market. Errol Barnett reports from Washington, then Lana Zak speaks with Baker Boyer Bank's Chief Financial Officer John Cunnison about how this will impact the average American.
Stocks plummeted on Wall Street after disappointing quarterly results from the nation's largest retailers. CBS News senior White House and political correspondent Ed O'Keefe has the latest. Then, Akane Otani, a reporter for The Wall Street Journal, joins Elaine Quijano on CBS News to explain the current market volatility.
With more and more investment companies offering cryptocurrency as an option in retirement portfolios, the recent decline of digital currency means some people's retirement funds are losing money. Greg McBride, chief financial analyst at Bankrate, joins CBS News to explain what caused the crash and what it means for your investments.
Stocks hit their lowest point of the year Monday. All three major domestic indexes dropped by at least 2%. Dory Wiley, president and CEO of Commerce Street Holdings, joined "CBS News Mornings" to explain what's behind the recent swings and share advice for investors.
Bipartisan bill could help workers save at a time millions of Americans are financially unprepared for retirement.
Approximately 1 in 8 Americans hold student loan debt. Amy Richardson, a certified financial planner with Schwab Intelligent Portfolios Premium, joined CBSN's Tanya Rivero with tips for how new college graduates entering the workforce can pay off debt and save money.
Expanding a federal retirement savings program could decrease inequality and boost wealth for the poorest, experts say.
Workers can withdraw or borrow up to $100,000 from 401(k)s under new COVID-19 aid package. Retirement planners say only do this if necessary.
According to the American Psychological Association's "Stress in America" survey, nearly two in three adults this year said money is a significant source of stress in their life, and about half of adults said they have experienced negative financial impact due to the COVID-19 pandemic. Walser Wealth Management president Rebecca Walser joins CBSN to discuss how to manage financial anxiety.
Financial fallout caused by the COVID-19 pandemic is impacting many Americans' retirement savings. But for some, there could be a silver lining. If you've been considering converting a traditional IRA to a Roth IRA, now could be a beneficial time to do so. CBS News business analyst Jill Schlesinger joins CBSN to help navigate whether this may be a smart move for you.
Stocks tend to do well this time of the year, but some question whether 2019's near 30% gains can continue in 2020.
The act would expand lifetime-income options like annuities and allow part-time workers to join 401(k) plans
Mutual fund giant's affiliated charitable fund gave $330,000 to a group that equates homosexuals with pedophiles.
President Biden is open to debating former President Donald Trump twice in the lead-up to the November election, his campaign said Wednesday.
Slovakia's populist Prime Minister Robert Fico was shot as he came out of a meeting and reportedly left in a life-threatening condition.
Britain's monarch King Charles III has unveiled the first official portrait done of him since his coronation, to mixed reviews.
More than 700,000 Palestinians were displaced when modern Israel was formed. 76 years later, the war in Gaza has displaced twice as many.
In Kyiv, Secretary of State Antony Blinken announced $2 billion in new financing for Ukraine to aid weapons delivery and fuel Ukraine's defense industrial base.
Shares of GameStop, AMC Entertainment and other so-called meme stocks dipped ahead of the start of trade on Wednesday.
The Florida crash involved a bus transporting about 53 farmworkers and a 2001 Ford Ranger truck, officials said.
Royal Turks and Caicos Islands Police have arrested five Americans for bringing ammunition into the Caribbean territory.
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
Nevada wildlife officials launched a huge investigation after spotting three animals believed to be wolves, which do not normally live in the state.
The single dad said he was kicked off the dating app "once or twice."
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
President Biden is open to debating former President Donald Trump twice in the lead-up to the November election, his campaign said Wednesday.
Shares of GameStop, AMC Entertainment and other so-called meme stocks dipped ahead of the start of trade on Wednesday.
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
Shares of GameStop, AMC Entertainment and other so-called meme stocks dipped ahead of the start of trade on Wednesday.
Regulators say the online lender deceived consumers into thinking they owed money on loans and withdrew funds from their bank accounts.
The business collaboration tool will be phased out over the next year as Meta focuses on AI and the metaverse.
Servers in France don't depend on tips like they do in the U.S. — but some restaurants don't want tourists to know that.
In Kyiv, Secretary of State Antony Blinken announced $2 billion in new financing for Ukraine to aid weapons delivery and fuel Ukraine's defense industrial base.
President Biden is open to debating former President Donald Trump twice in the lead-up to the November election, his campaign said Wednesday.
The move comes days after the U.S. withheld shipments of certain munitions to Israel over concerns about a ground offensive in the Gaza city of Rafah.
Former President Donald Trump's attorneys got their first chance to question Michael Cohen on his second day of testimony and took aim at his credibility.
This comes after the cabin door of an Alaska Airlines plane blew off mid-flight in January, sparking congressional and federal investigations.
Nurse practitioners have been viewed as a key to addressing the shortage of primary care physicians. But data suggests that, just like doctors, they are increasingly drawn to better-paying specialties.
Nearly 4,000 people die from accidental drowning ever year, according to the CDC.
Interest in raw milk is rising in the U.S., fueled by both "wellness" and conservative influencers on social media — even though it can make people very sick.
Johns Dental Laboratories stopped making the Anterior Growth Guidance Appliance last year after a KFF Health News-CBS News investigation into allegations of patient harm.
Eighty-four million Americans had a mental disorder in 2022, while 34 million people had a substance use disorder. About 11 million people dealt with both, but many did not receive professional treatment, partially because of a persistent stigma leading to silence and shame around mental health problems. Michelle Miller reports on how former congressman Patrick J. Kennedy and author Stephen Fried are hoping to make change with their new book.
In Kyiv, Secretary of State Antony Blinken announced $2 billion in new financing for Ukraine to aid weapons delivery and fuel Ukraine's defense industrial base.
More than 700,000 Palestinians were displaced when modern Israel was formed. 76 years later, the war in Gaza has displaced twice as many.
Slovakia's populist Prime Minister Robert Fico was shot as he came out of a meeting and reportedly left in a life-threatening condition.
Britain's monarch King Charles III has unveiled the first official portrait done of him since his coronation, to mixed reviews.
The bloodshed in Chiapas marks at least the fourth mass killing in Mexico in about a week.
"Young Sheldon" will end its seven-year run with a two-episode series finale on Thursday, May 16, beginning at 8/7c on CBS.
Actor Iain Armitage joins "CBS Mornings" to discuss the series finale of the hit CBS show, "Young Sheldon."
Whoopi Goldberg joins "CBS Mornings" to talk about her new memoir, "Bits and Pieces." The book is a revealing look at the EGOT winner's relationship with her mother, Emma Johnson, and her brother, Clyde.
The single dad said he was kicked off the dating app "once or twice."
Britain's monarch King Charles III has unveiled the first official portrait done of him since his coronation, to mixed reviews.
A group of TikTok creators is suing to stop a new law that could ban the social media app in the U.S. The legal challenge follows another lawsuit filed by TikTok and its China-based owner.
Google's highly-anticipated, annual developer conference began Tuesday. The event focused mainly on the company's artificial intelligence advancements. Lisa Eadicicco, senior mobile editor for CNET, joins CBS News with highlights.
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.
The business collaboration tool will be phased out over the next year as Meta focuses on AI and the metaverse.
OpenAI showed off its latest iteration of ChatGPT, GPT-4o, in a livestream presentation on Monday. The update is supposed to be faster and has increased text, voice and vision abilities, including engaging in spoken conversations. Bloomberg News reporter Shirin Ghaffary joined CBS News to talk about the new offer.
Millions of Americans looked to the night sky and snapped magical photos and videos of the northern lights this past weekend during the momentous geomagnetic storm.
Scientists who study such things have found that cicadas urinate in a jet stream because they consume an incredible volume of fluid during their brief time above ground.
Solar storms can dazzle, bringing displays of the northern lights to large parts of the globe. But geomagnetic storms can also affect electronic systems.
In 2006, bees across the U.S. started dying rapidly. Now, the U.S. honey bee population is at an all-time high, according to the Census of Agriculture. Clay Bolt, manager of pollinator conservation for the World Wildlife Fund U.S., joins CBS News to explain what happened.
Wildfires are forcing thousands from their homes in Canada after burning more than 13,000 acres so far. Terry Cavaliere, emergency operations director for the Fort Nelson First Nation, joins CBS News with the latest.
The bloodshed in Chiapas marks at least the fourth mass killing in Mexico in about a week.
Florida officials say a "vessel of interest" has been identified in connection with a deadly hit and run that killed a 15-year-old ballerina who was waterskiing over the weekend. Cristian Benevides has the details.
Ippei Mizuhara, the former interpreter of Los Angeles Dodgers player Shohei Ohtani, is expected to enter a not guilty plea Tuesday to bank fraud and tax charges that he allegedly illegally transferred almost $17 million from the baseball star's bank account. However, the not guilty plea is a formality, as federal prosecutors previously announced that Mizuhara will plead guilty at a later date as part of a plea deal. CBS News' Adam Yamaguchi reports.
Ian Cleary had been the subject of an international search since authorities in Pennsylvania issued a 2021 felony warrant in the case.
Investigators made the unusual discovery during probes into suspects who were cultivating marijuana under the cover of managing car wash stations.
The large explosion of energy and light from the sun comes just days after Earth was slammed with the biggest geomagnetic storm in more than 20 years.
WASP-193b is 50% larger than Jupiter — the largest planet in our solar system — but seven times less massive because of it's extraordinarily low density.
Millions of Americans looked to the night sky and snapped magical photos and videos of the northern lights this past weekend during the momentous geomagnetic storm.
The oxygen valve that derailed a launch try last week has been replaced, but engineers want more time to verify an unrelated helium leak has been fixed.
The forecasted conditions come after a weekend of jaw-dropping northern lights seen as far south as Florida and as "magnetically complex" sunspots bigger than Earth continue to emit solar flares.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
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.
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?
Brittney and Cherelle Griner announced that they are expecting a baby boy named Bash in July. The couple celebrated with friends and family recently at their baby shower.
The Consumer Price Index rose by 0.3% in April, a smaller than anticipated increase that signals inflation is cooling. Prices have gone up 3.4% over the last 12 months. CBS News business analyst Jill Schlesinger has more.
Video shows an attack on a prison transport van in France where armed men are seen ambushing a convoy carrying a suspected drug lord. Two officers were killed. Now, there's a manhunt underway.
On this edition of CBS Mornings Deals, Gayle Bass 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.
U.S. Secretary of State Antony Blinken delivered remarks Wednesday during his surprise visit to Ukraine, emphasizing the need to continue supporting the country in its war against Russia.