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Financial Fact Friday: Robinhood wants to be your retirement fund, offering a 1% match

Robinhood, a stock-trading app that became a favorite of the "meme-stock" crowd during the pandemic, has a new proposition: Open an Individual Retirement Account with the service and it will match 1% of the funds customers contribute.
The company, which rolled out its new retirement savings program in December 2022, said it is the only IRA provider to offer a match on investments — a feature that is typical in many employer-based 401(k) programs. In such plans, an employer will typically match a worker's 401(k) contributions up to a limit, often between 3% to 6% of their annual salary.
According to Census data, such matches are typically only available as an employer-sponsored benefit, and only 1 in 3 Americans has access to a corporate retirement plan.

(Source: CNCB News)

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FACT or FICTION: Are Their Retirement Funding Goals Ought to Hit by Age 50?

FACT: The approach of a milestone birthday is a reminder that, as life changes, so do your needs and circumstances.
The question is settled: You’re no longer a kid. And that’s a great thing because maturity is much better than it’s cracked up to be.
So, instead of dreading it, use this birthday to update your financial life by hitting the following targets.

(Source: MNS)

Reasons to pump the brakes on retirement. If you've been dreaming of retirement since you entered the workforce, you might have a certain idea of what it looks like when you're no longer working. But there's a chance you might not start retirement when you thought you would, perhaps due to circumstances beyond your control. According to a recent survey by the Nationwide Retirement Institute, approximately 40% of workers are planning to push retirement later in life due to inflation. While life doesn't always go according to plan, would-be retirees can make the best of a bad situation by delaying retirement. So, if you're on the fence, here's why you might want to consider retiring later than you originally thought.

(Source: Insurance WSMT)

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