Financial Decisions

4 Factors to finding your ideal retirement withdrawal rate

The amount of money you spend in retirement is a crucial factor in determining the type of lifestyle you will live. But it's also important for ensuring you don't run out of money.
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Young man looking at his computer on his bed reviewing finances in a bright sunny room.

Is saving 10% of your salary enough for retirement?

Saving for retirement would be a lot less complicated if we could rely on a standard rule, like saving 10% of our annual income, but unfortunately, it's not that simple.
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Financial anxiety: Why we experience it and how to cope

Financial anxiety is more common than you might think. Here are ways to manage your money stress and take active steps towards bringing more peace into your financial life.
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Is financial literacy on your teen’s schedule? Here are the skills they need to know

April is Financial Literacy Month. How much does your teen know about finances?
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Voya Celebrates African American Pioneers: Maggie L. Walker

Maggie L. Walker was a pioneering entrepreneur, civil rights and women’s rights activist and the first woman of any race to charter and become president of a bank in the U.S. — the St. Luke Penny Savings Bank.1 She overcame seemingly insurmountable obstacles to transform the state of banking in the middle of Jim Crow. Maggie L. Walker dedicated her life to closing the wealth gap and to empowering all Americans to achieve a more secure financial future…one penny at a time. This is her story.
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Voya Celebrates African American Pioneers: Madam CJ Walker

This is an account of Madam C.J. Walker, an African-American entrepreneur, philanthropist, and social activist. She rose from poverty and was the first documented American female self-made millionaire recorded in the Guinness Book of World Records.² Madam Walker created a beauty business hiring black women as a means to support themselves, and provided a needed service to her community. She donated generously and supported the NAACP to help stop lynching and empower future African-American lives.¹ This is her story.
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Voya Celebrates African American Pioneers: Oseola McCarty

This is an account of an amazing woman by the name of Oseola McCarty, an African-American cleaning woman from Mississippi who saved over $150,000 during her lifetime and then donated it to a scholarship fund at the University of Mississippi for deserving students who otherwise may not get the chance to go to college. She was also a Presidential Citizens Medal winner and inspired others to give. This is her story.
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Let's talk budgets

Making the most of your income
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We could all use a little more balance, your retirement account is no different

As the markets change, the value of each security in your portfolio will increase or decrease at a different rate of return; changing the overall weightings of your investments. Periodic reviews of your investment portfolio help keep your retirement strategy on track.
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5 Actions to help you navigate today and keep saving for your best life

Feeling anxious and unsure about the future? Take these 5 steps to help plan for your tomorrow.
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4 Ways to Prepare for a Longer Retirement

Americans are living longer these days. That's a positive thing in theory, but from a retirement-planning standpoint, it can be challenging. After all, there's a difference between needing your retirement savings to last 20 years versus 30 years or more.
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5 Ways New Parents Can Go About Estate Planning

Busy parents have enough on their plates without adding estate planning, but with the joy of welcoming new family into the world, comes the responsibility to plan for the financial future of a family. Often, creating a will is probably the first thing that comes to mind when most people think about estate planning; there’s much more to building a stable financial future. One of the hardest parts of estate planning is knowing where to start. Luckily, we’re here to help.
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Navigating market volatility with dollar cost averaging

As you are well aware by now, the stock market has had some volatility these past weeks. While these shifts can increase anxiety, here at Voya we know a few things for sure. No one can predict what the market will do and when.
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2020 IRS limits for traditional and Roth IRA's

It’s a new year with transformations to both Traditional IRAs and Roth IRA contribution, income and deductible limits, tax treatments and rules. Now is a good time to familiarize yourself with these reforms and evaluate your retirement savings and tax strategies. This list is not exhaustive and the complexity for each is too much to cover here. It is for this reason, Voya recommends you consult a tax professional to discuss these changes to IRAs and its impact to your specific situation.
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Designate or update your beneficiar(ies) today

Nothing says ‘I love you’ more than asking your loved one to be my bene this Valentine’s Day. Bene is Latin for good or well. Do something good for them. When you designate or update your financial beneficiary, the one who will receive your assets after you pass on, you are essentially giving the beneficial gift of well being and that is priceless.
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Reasons to save in a 401k or similar employer-sponsored plan

Investing in your employer sponsored retirement plan may provide an opportunity for savings.
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Financial Plan = More Satisfied Customer

It’s not surprising that customers who have a financial plan tend to be more satisfied with their financial advisor than those who don’t have a plan
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How to make your income tax refund go further (infographic)

Tempted to spend your tax refund? Instead, consider putting it towards your emergency fund or saving it to pay yourself back in the future.
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