The rules of the retirement game just saw a sizable overhaul in Congress, giving a nod to the reality that many Americans can’t afford to quit working.
The changes aren’t massive enough to put to rest concerns about an upcoming retirement crisis where some forecast a growing gap between the haves and have-nots. Even so, the adjustments are likely to help some households boost their retirement savings.
Here’s a look at some points to know:
1) Turning 70 in 2020? New rules can help delay spending savings.
2) Retirement savings can help young families, too.
3) Working part-time won’t hurt your ability to save.
4) You’ll receive annual estimates on 401(k) monthly income
5) Work and save more into your 70s
For more information on each change, check out the complete source article.