: A new savings option created under the Working Families Tax Cuts bill is starting to draw attention from parents planning for their children’s future. Known as Trump accounts, the program is being described as an “IRA for children” and comes with a notable incentive: a $1,000 government seed contribution, even before families add a single dollar of their own.Are Trump Accounts Really an “IRA for Children”While contributions to Trump accounts won’t begin until July 4, 2026, interest is already growing, es ...

Key Points The more tax breaks you can take in the course of building retirement savings, the better. Though an HSA isn't strictly a retirement account, it can function as one. It pays to see if you're eligible to participate in an HSA in 2026, especially if you have new insurance. The $23,760 Social Security bonus most retirees completely overlook › IRAs and 401(k) plans are popular for a reason. These accounts offer tax breaks in the course of building retirement savings. And since you'll need ...

"The IRS very reasonably says, 'We haven't gotten our piece of that,' and you need to start pulling that money out," he explained. However, if you've been fiscally savvy and built income streams that provide enough cash flow to live on without needing the retirement account funds, you're "unfortunately stuck in this position of having to pull that money out anyway and then pay taxes on it. Retirement accounts take away our control and put it in the hands of the IRS."Another consequence of maxing out tax-def ...

As 2025 winds down, here are some moves to help you finish the year strong financially. Morningstar’s director of personal finance and retirement planning, Christine Benz, discusses strategies. This interview has been edited for length and clarity. Benefits of Rebalancing Your Portfolio Q: What are the benefits of portfolio rebalancing, and who most needs to do it? A: The main benefit of rebalancing is risk reduction. You trim securities that have performed really well, presumably ones with higher valua ...

Core Insights - The article emphasizes the importance of getting financial affairs in order as 2025 comes to a close, particularly for retirees who need to consider their required minimum distributions (RMDs) before 2026 begins [1] Required Minimum Distributions (RMDs) - Individuals aged 73 or older with traditional retirement accounts must take RMDs, as mandated by the IRS to prevent tax-advantaged wealth transfer [3] - The first RMD is due by April 1 of the year following the individual’s 73rd birthday, while subsequent RMDs must be taken by December 31 of each year [4] - Failure to take the required distribution can result in a 25% penalty on the amount that should have been withdrawn, which may be reduced to 10% if corrected promptly [4] Calculating RMDs - RMDs are calculated based on the account balance and life expectancy, with financial institutions typically providing this calculation [5] Managing RMDs - For retirees who do not need their RMDs, these distributions can create an immediate tax burden [6] - One strategy for managing RMDs is to utilize a qualified charitable distribution (QCD), which allows funds to be transferred directly to a charity, satisfying the RMD requirement while excluding the amount from taxable income [7] - Alternatively, retirees can take their RMD and reinvest it in a traditional brokerage account or other investment vehicles, although taxes will still apply to the distribution [8]

Core Viewpoint - Nvidia's performance is positively impacting futures, indicating strong market sentiment and potential investment opportunities in the tech sector [1] Group 1: Retirement Savings Adjustments - In 2026, retirement savers will be able to contribute an additional $1,000 to their workplace 401(k) plans and $500 more to their IRAs [1] - Catch-up contribution limits for workers aged 50 and older, as well as for plan participants aged 60 to 63, will also see increases [1] - The IRS has announced cost-of-living adjustments for 2026, which are beneficial for all workers [1]

Core Insights - Americans believe they will need $1.26 million to retire comfortably, but many are not saving enough and over half expect to outlive their savings [1][2] Retirement Savings Data - Average retirement savings vary significantly by age, with median savings often being much lower than average due to the influence of ultra-high-net-worth individuals [5][6] - The average and median retirement savings by decade are as follows: - 20s: Average $115,162, Median $36,812 [6] - 30s: Average $249,774, Median $91,128 [6] - 40s: Average $545,424, Median $213,645 [6] - 50s: Average $970,570, Median $441,611 [6] - 60s: Average $1,148,441, Median $539,068 [6] - 70s: Average $994,140, Median $432,043 [8] - 80s: Average $787,424, Median $326,960 [8] Investment Vehicles - Many individuals contribute to various savings vehicles that are not exclusively for retirement, such as 401(k)s, IRAs, taxable brokerage accounts, and health savings accounts [3][7]

Core Insights - Generation X exhibits a pessimistic outlook towards retirement, with over half of respondents in a Northwestern Mutual study feeling unprepared financially for retirement [1][2] Investment Strategies for Gen X - To improve their retirement readiness, Gen Xers are encouraged to develop solid investment habits and prioritize their own financial well-being [2][4] - Robert Varghese, head of investments for Groundfloor, emphasizes the importance of focusing on 401(k) plans and IRAs, including traditional, Roth, and self-directed accounts, to maximize retirement savings [5] - Gen Xers should take advantage of employer matches on 401(k) contributions to enhance their retirement funds [5] Education Funding and Family Conversations - For those concerned about funding children's college education, contributing to a 529 plan is recommended due to its tax advantages [6] - Gen Xers may need to engage in difficult discussions with elderly family members regarding medical directives, care types, and estate planning to better manage their own financial and personal needs [6]

Core Insights - Many individuals overlook the importance of a retirement withdrawal strategy, which is essential for effectively managing assets during retirement [1] Withdrawal Strategy Overview - A retirement withdrawal strategy is crucial for covering expenses in retirement, and it is simpler to plan when there is a single retirement account [3] - The order and proportions of withdrawals from retirement accounts can significantly affect tax liabilities and the longevity of retirement savings [3][8] Required Minimum Distributions (RMDs) - Individuals must start making withdrawals from defined contribution plans at age 73, with the age increasing to 75 for those born in 1960 or later [4] - Failing to take an RMD can lead to substantial penalties from the IRS [5] Withdrawal Order Recommendations - A suggested withdrawal order is to first draw from brokerage accounts, followed by tax-deferred accounts, and finally tax-free accounts [6] - This strategy aims to minimize tax liabilities while maximizing the longevity of retirement savings [8] Case Study: Don and Nancy - A hypothetical couple, Don and Nancy, both aged 67, receive $1,500 monthly in Social Security, totaling an annual income of $36,000, alongside $1 million in retirement accounts [9]

Financial Data and Key Metrics Changes - As of September 30, 2025, the company reported a market capitalization of $425 million, total assets of $7.7 billion, loans of $5.8 billion, deposits of $5.7 billion, and capital of $700 million [9] - The tangible book value per share was reported at $9.77 [9] - Net interest income (NII) increased from $32 million to nearly $36 million, with net interest margin growing from 1.8% to 2% [12][10] Business Line Data and Key Metrics Changes - The company is focusing on organic growth and has launched several technology initiatives, including an AI chatbot and a virtual agent for client transactions [11][12] - The investment services group has generated total sales of $486 million and gross revenue of $8.7 million, with assets under management at $369 million [20][21] Market Data and Key Metrics Changes - The company operates 43 branches across 12 counties in New Jersey and New York, with plans to close three branches, resulting in a network of 40 branches [9][10] - Kearny Financial is ranked as the 10th largest financial institution in the state in terms of deposits [9] Company Strategy and Development Direction - The company is shifting from a defensive posture to an offensive strategy focused on organic expansion and deepening client relationships [10][15] - There is a strong emphasis on technology to improve operational efficiency and client service, with ongoing investments in AI and automation [18][19] Management's Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by an inverted yield curve and high Fed Funds rates but expressed optimism about improved margins and net income as conditions normalize [10][11] - The focus will be on strengthening core deposits and enhancing operational efficiency through technology [16][17] Other Important Information - The company has a disciplined approach to mergers and acquisitions, having completed seven successful transactions since 1999 [10] - The company has maintained strong credit performance with minimal charge-offs over the years [14] Q&A Session Summary Question: Qualifications of elected directors - The qualifications of the directors were outlined in the proxy statement, confirming their suitability for election [7][8] Question: Future growth strategies - Management discussed the focus on organic growth, cross-selling, and enhancing client engagement through technology [15][16]