59 1 2 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

thing. >> jeannie suk gerson, harvard law professor, thank you for weighing in and you can watch ao missions granted tonight at 9:00 p.m. eastern here on msnbc. that's going to do it for me. o back next saturday. prime weekend is next. ♪ ♪ >> welcome to prime time weekend. i'm nicolle wallace. let's get right to the week's top stories. underscoring the stakes of the election in november even further, newly released decisions by the u.s. supreme court, the conservative super majority which includes three of the justices hand-picked by donald trump himself overturned a 40-year-old ...

hi, everyone. happy friday. it is 4:00 in the east on an interesting and important day of breaking news including a pair of decisions from the supreme court, and one for the massive implication of the very ability of our government to function, and another one throwing a wrench in efforts to hold the january 6th insurrections legally accountable. both of the rulings held by the nation's highest court and that court is dominated by a 6-3 right wing super majority. and all of those underscoring the massive and historic and tectonic undeniable prestigious political cycle. last night at ...

Of your 401(k) savings plan. the idea would sharply reduce the amount of money you can save, which is tax free. joining me now, ron, kribtder to our sister station, cnbc. good to have you here. right out of the gate, what kind of numbers are we talking about when it comes to savings for retirement. >> right now, if you max out your contribution, you could put $18,000 per year in. that money is deducted from your salary so you don't pay taxes on it now. >> real quick, that's under 50. if you're over 50, even higher. >> 24,000 if you're over 50 in order to catch up on your retirement savings. wh...

That's $6500 you can put into this ira. you can also put about $5500 for everyone else. the other thing to think about is ira rollovers because you may have money in the ira fund and you may want to take it out tax-free in retirement. you will have to pay taxes up front on the money, but you can take it out after 59 1/2 tax free. the roth ira rolling over from a traditional to a roth irs is something some people want to consider. and there's another break for seniors that is really only for them this year, if you're 65 or older in terms of medical expense deductions. you need to have 7.5% of y...

There are prices to pay. people are tapping into what are very valuable retirement funds in an effort to just stay solvent during these times hoping the economy changes. >> arthel: kyle, as we know, many people got to the point where they felt like they had no other choice and they dipped into their 401(k) accounts and is there any way that they'll be able to replenish or make up for those losses? >> well, again, you highlighted something, there is penalties associated with that for withdrawing money prior to being 59 1/2 to the tune of 10%. so if you took out $5,000, you would be -- you have ...