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☆ Big retirement rule changes are coming in 2025 — here's how you can save more money
▼ + stars: | 2024-11-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

"This can be a great way for people to boost their retirement savings," certified financial planner Jamie Bosse, senior advisor at CGN Advisors in Manhattan, Kansas, previously told CNBC. This can be a great way for people to boost their retirement savings. How much older workers save for retirementThe 401(k) catch-up contribution change is "very good" for older workers who want to save more for retirement, said Dave Stinnett, Vanguard's head of strategic retirement consulting. Some 35% of baby boomers feel "significantly behind" in retirement savings, according to a Bankrate survey that polled roughly 2,450 U.S. adults in August. "But not everyone age 50 or older is maxing out [401(k) plans] already," Stinnett said.

Persons: Jamie Bosse, deferrals, Dave Stinnett, Stinnett Organizations: CGN Advisors, CNBC, America Locations: Manhattan , Kansas

☆ Key change coming for 401(k) ‘max savers’ in 2025, expert says — here's what you need to know
▼ + stars: | 2024-10-16 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Aire Images | Moment | Getty ImagesHigher 401(k) catch-up contributionsEmployees can now defer up to $23,000 into 401(k) plans for 2024, with an extra $7,500 for workers age 50 and older. But starting in 2025, workers aged 60 to 63 can boost annual 401(k) catch-up contributions to $10,000 — or 150% of the catch-up limit — whichever is greater. An estimated 15% of eligible workers made catch-up contributions in 2023, according to Vanguard's 2024 How America Saves report. Roth catch-up contributionsAnother Secure 2.0 change will remove the upfront tax break on catch-up contributions for higher earners by only allowing the deposits in after-tax Roth accounts. That means workers can still make pretax 401(k) catch-up contributions through 2025, regardless of income.

Persons: Jamie Bosse, Vanguard's Stinnett, Roth Organizations: IRS, CGN Advisors, America, Vanguard Locations: Manhattan , Kansas

☆ Tim Walz took a $135,000 early withdrawal from a retirement account—that's generally a 'lose-lose situation,' says CFP
▼ + stars: | 2024-09-09 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Even more interestingly, Walz told the Journal that he made a roughly $135,000 early withdrawal from a workplace retirement account last year to fund his daughter's college education. Walz is in an unusual situationFor Walz, $135,000 represents a relatively small chunk of what he can expect to earn in retirement. The Wall Street Journal estimates the Walzes' retirement savings at more than $1 million, meaning that the early withdrawal likely represented somewhere in the neighborhood of 10% of the retirement fund. Of Walz and his wife's roughly $300,000 in 2023 income, about $135,000 came from pensions or annuities. But it's especially dangerous for the majority of Americans who will have to rely heavily on their investments to fund their retirement.

Persons: Tim Walz, Walz, Gwen, J.D, Vance, It's, Gerika Espinosa, —, Jamie Bosse, Bosse Organizations: Wall Street, Republican, Street, CGN Advisors, Social Security Locations: Minnesota, Salt Lake City , Utah, Manhattan Kansas

This is a good chance to talk to your kids about money and the actual cost of what they want. It's a good idea to make saving for your kids' summer a part of your year-round saving plan. Bosse, who also writes books about money for kids, sees a lot of parents stressed about the summer. See Insider's picks for the best high-yield savings accounts »How do you start the summer money conversation with kids? Involve kids in your financial decisionsOnce you and your kids decide what's important for the summer, Delisle and Bosse recommend being open and transparent about how much value-driven activities cost with your kids.

Persons: —, Jamie Bosse, Bosse, David Delisle, Delisle, you'll Organizations: Service, American Camp Association Locations: The Kansas, Florida

German-style Christmas markets crop up all over the world this time of year. For me, a visit to a Christmas market is an essential part of the festive season. Whether with family, friends, or colleagues, a Christmas market and a few glasses of mulled wine always hit the spot. I visited the "Weihnachten an der Spree," or Christmas on the Spree, all-inclusive Christmas market in Berlin, Germany, to see if it was worth it. So if, like me, you like to stroll through Christmas markets and look at stalls full of handcrafted objects, decorations, and other knickknacks, you'll be disappointed.

With the ongoing energy crisis, the demand for solar panels has been soaring. Solar panels are difficult to test before you take the plunge due to their substantial cost and infrastructure. The startup is aiming to make solar energy a realistic option for everyone via its solar-panel-rental model. Another view of my parents' house and solar panels. The consultant proposed that Enpal could install 20 solar panels, offering a total output of 7.6 kilowatts peak, which is the rate at which solar panels generate energy at peak performance.

It raised a pre-seed round of 2.4 million euros, which VR Ventures and Redstone led. Insider has a copy of the pitch deck that it used to raise the funds. The company raised a pre-seed round of 2.4 million euros in July 2022, with funding coming from VR Ventures, Redstone VC, Basinghall Partners, and angel investors. She said that they felt this made their pitch deck inconsistent, so Mutius started trying to present without it. Insider has a copy of the pitch deck that was behind Empion's 2.4 million euro pre-seed round.

Alphin is an online-marketing startup based in Berlin. It recently raised $6 million in a funding round that Scale Capital led. Take a look at the pitch deck it used to raise the funds. The Berlin-based online-marketing startup Alphin originally launched in 2017 — under the name Freachly — and intended to be a platform for local-influencer marketing. There are also plans for further expansion within Europe and a proof of concept in the US at the end of 2023.Insider has a copy of the pitch deck that Alphin used to raise the $6 million funding round.

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