Only about 20% of U.S. workers have access to a pension, and just 7% contribute to an additional retirement plan alongside one. If you’re fortunate enough to have a pension, you have a tremendous opportunity to get ahead of not only your peers, but the workforce as a whole.
Put simply, if you start collecting Social Security before your Full Retirement Age (FRA), your benefits could be significantly reduced or even completely withheld if your income surpasses certain limits.
Switching jobs can be both exciting and nerve-racking. Along with the obvious stressors of starting somewhere new, there’s the less-obvious question of what this change means for your retirement accounts.
As a self-employed business owner, setting up the right retirement plan for your situation is crucial to lowering your annual tax bill today and securing your financial independence tomorrow.
If you are a worker aged 50 or older, a major rule change taking effect in 2026 could impact your retirement savings strategy. Understanding this upcoming change is crucial for high earners to ensure their financial plans remain on track.
