12.06.24 Clark Answers His Critics on Clark Stinks / 401(k) Savings - 2025
Dec 6, 2024
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It's Clark Stinks day, where listener critiques are shared and discussed! Older workers can now capitalize on new 401(k) savings options, allowing for 'super catch-up' contributions. The conversation dives into the importance of corporate accountability in various sectors and navigating life's frustrations. Strategies for improving credit scores and understanding retirement accounts, including Roth options, are highlighted. Clark encourages support for charitable initiatives, particularly for children in foster care, emphasizing the joy of giving.
34:25
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Quick takeaways
The 'super catch-up' provision enables older workers to significantly increase their annual 401(k) contributions, promoting better retirement savings.
Clark's Christmas Kids initiative showcases community generosity by fulfilling holiday wishes for children in the foster care system, spreading joy during the festive season.
Deep dives
Baker's 12 Merry Days of Deals
From December 4th to the 15th, a series of daily deals will be available through a mobile app and website, benefiting those who participate. Boost members will have the opportunity to access even greater savings, encouraging users to check daily for new offers. This event aims to engage shoppers during the holiday season, emphasizing convenience and savings in an accessible manner. By promoting daily deal hunting, Baker's enhances the festive shopping atmosphere, providing an exciting way for consumers to save.
Clark's Christmas Kids Initiative
A philanthropic effort called Clark's Christmas Kids focuses on fulfilling the holiday wishes of children in the foster care system, marking its 34th year. Generosity from donors plays a crucial role in randomly matching gifts with children's specific wish lists, allowing for a joyful Christmas even for those who have faced disappointment. This initiative aims to bring hope and joy to children who have often been let down by adults in their lives. The heartfelt appreciation for contributions demonstrates the community's impact on the lives of these children during the holidays.
New Retirement Savings Provisions
A recent legislative change allows individuals aged 60 to 63 to contribute significantly more to their 401(k) accounts, a measure known as the 'super catch-up' provision. This enables eligible participants to save nearly $35,000 annually, providing a beneficial option for those who may be behind on retirement savings. The discussion highlights the importance of such provisions for workers approaching retirement age, especially as they navigate financial challenges. This change aims to empower older workers by allowing them to bolster their retirement funds more effectively.
Friday - Clark Stinks day! Christa shares Clark Stinks posts with Clark. Submit yours at Clark.com/ClarkStinks. Also - some older workers have a new opportunity to sock more money away in their 401(k)s next year. Use our calculator at Clark.com to estimate how much your retirement accounts will grow over time.
Disclosure in Podcast Description: A Bond Account is a self-directed brokerage account with Public Investing, member FINRA/SIPC. Deposits into this account are used to purchase 10 investment-grade and high-yield bonds. As of 9/26/24, the average, annualized yield to worst (YTW) across the Bond Account is greater than 6%. A bond’s yield is a function of its market price, which can fluctuate; therefore, a bond’s YTW is not “locked in” until the bond is purchased, and your yield at time of purchase may be different from the yield shown here. The “locked in” YTW is not guaranteed; you may receive less than the YTW of the bonds in the Bond Account if you sell any of the bonds before maturity or if the issuer defaults on the bond. Public Investing charges a markup on each bond trade. See our Fee Schedule. Bond Accounts are not recommendations of individual bonds or default allocations. The bonds in the Bond Account have not been selected based on your needs or risk profile. See https://public.com/disclosures/bond-account to learn more.