Energy for a Better Future: Our Corporate Citizenship Impact
Bill assistance for our customers in needWith 40% of our 3 million residential customers living in poverty, Entergy is committed to making a difference in the communities we serve. When temperatures soared last summer, we donated $3 million to help our low-income customers become more energy efficient and save money on their energy bills.Through Entergy's Beat the Heat program, our customers received bill payment assistance, fans, energy efficiency kits, home weatherization and invaluable support from localcommunity partners.
Free tax preparation for our customersFor more than 15 years, we have provided free tax preparation for our low-to-moderate-income customers at Volunteer Income Tax Assistance sites across our service area in Arkansas, Louisiana, Mississippi and Texas. Every year, our IRS-certified employees help customers file their taxes and access valuable information on tax credits and deductions they are eligible for, maximizing their tax refunds. In 2024, Entergy helped low-to-moderate-income customersreceive $55 million in federal tax refunds. Of that amount, $21 million were Earned Income Tax Credits. Since 2009, our support of VITA sites has helped return $333 million to nearly 200,000 customers in our service area.
The Civic 50 honoree We were honored to be named an honoree of The Civic 50, Points of Light's prestigious annual list recognizing the top community-minded companies in the United States. This is the ninth time we have been included on this list, and we were also named as this year's Utilities Sector Leader for the second year. This recognition highlights our commitment to corporate citizenship and sets a national standard for driving social impact.
Read the full report here.
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Forbes
an hour ago
- Forbes
7 Smart Retirement Savings Moves To Make In Your 40s
Retirement savings strategies in your 40s Turning 40 is a significant milestone. It signals the midpoint of a career for some, achieving financial stability for others, and for many, it's a reminder that retirement is not so distant in the future. If you've reached your 40s and are wondering how to refine or even begin your planning, here are 7 retirement savings strategies that can help you. 1. Maximize Contributions To Retirement Accounts This decade is typically when Americans experience peak earning years. For example, according to latest data from the Bureau of Labor statistics, the two highest median weekly earnings in the U.S. are from the 35-44 and 45-54 age groups, which are $1,332 and $1,376, respectively. You should use this increased income for disciplined, strategic savings. If your employer offers a 401(k) or 403(b) plan, contribute at least enough to receive the full employer match. These matching contributions are free money, and over time, they compound alongside your own investments to significantly boost your retirement balance. This should be your minimum. But if you really want to boost your savings in your 40s, you should aim to contribute the annual maximum allowed by the IRS to all available tax-advantaged accounts. For example, in 2025, you can contribute up to $23,500 in a 401(k), and even though you do not qualify yet for catch-up contributions (reserved for those over age 50), having a max-out mentality ensures you take advantage of the opportunity. You may also explore traditional or Roth IRAs for tax diversification. You are allowed to contribute up to $7,000 to IRAs in 2025. There are certain limits and restrictions as to total contributions to IRAs based on factors such as modified adjusted gross income and marital status, but the idea remains the same: contribute the maximum amount allowed, if you can. Leave no opportunity unexplored for maximizing your retirement savings. 2. Balance Risk And Growth In Your Portfolio At this point, you are no longer in the early accumulation phase of your 20s and 30s, but you're also not yet in the preservation phase typically associated with age 50 onwards. That makes your 40s a unique time where you must weigh between continued growth and the need for stability. You still have time on your side (possibly 20 or more years until retirement), which means that equities and other growth-oriented assets should remain a significant part of your portfolio. Nonetheless, you should calibrate your exposure based on your risk tolerance, lifestyle needs, and long-term goals. Depending on your circumstances, you can aim for a 60/40 mix of stocks and bonds, or a target-date fund that automatically adjusts over time. Your 30s may have favored higher equity exposure, perhaps 80-90%, but you should dial down a little in your 40s and shift some to bonds, real estate, or dividend-producing stocks to enhance your resilience. Remember, this is not yet time to retreat to overly conservative investments, you still want to maximize the ability to grow your money and outpace inflation. But you also shouldn't chase high-risk returns without first understanding the downsides. Instead, focus on strategic diversification across asset classes, sectors, and geographies to build resilience and flexibility. You should also regularly rebalance and adjust based on changing circumstances in your family or career. For better guidance, consider working with a fiduciary financial advisor. 3. Be More Aggressive About Debt Elimination While not all debt is bad, high-interest ones, such as credit cards, personal loans, or payday loans, can be the bane of your wealth building and retirement planning efforts. Every dollar you spend on interest payments is one less dollar for your retirement savings. Eliminate these kinds of debt as soon as you can. If you are struggling with multiple debts, you may consider consolidation or refinancing to secure lower interest rates and simplify repayments. You may also use the snowball method and payoff the smallest debts first to build momentum. As you repay and eliminate high-interest debts, you should also focus on not incurring them in the future. For example, as your income rises in your 40s, you may be tempted to upgrade your standard of living, say move to a larger home, buy a new car, or travel more. Not that you should deprive yourself, but lifestyle inflation is one of the reasons you may incur new debt or delay wealth building. Temper your spending. Be more intentional about your retirement savings goals instead of short-term indulgences. 4. Strengthen Your Emergency Fund You should have one by now. If not, start immediately. Open a separate savings account that's dedicated to emergency spending, such as a job loss or car repairs. Most experts recommend having three to six months' worth of living expenses in your emergency fund. Aim for the lower end and gradually build toward increasing it. It may take time but even $100 per payday is a big step. Just save for rainy days. A small emergency fund is better than no emergency fund. This is a very important strategy for building your retirement savings, because having a robust emergency fund prevents you from incurring high-interest debt or making premature withdrawals from your retirement accounts. It's a crucial foundation of your overall strategy. 5. Plan For Future Healthcare Needs Healthcare costs consistently outpace inflation and often become one of the largest expenses in retirement. Address this now, while you are in your peak earning years, so you are not blindsided by bills later. One of the tools you have is a Health Savings Account, available if you are enrolled in a high-deductible health plan. Contributions to an HSA are tax-deductible, growth is tax-deferred, and withdrawals tax-free when used for qualified medical expenses. It is also prudent to understand the structures and limitations of Medicare, even though eligibility doesn't begin until age 65. Don't assume that Medicare will cover all your healthcare needs in retirement. It won't. There are gaps in coverage, including dental, vision, long-term care, and other prescription costs. You may want to consider having supplemental or long-term care insurance to address this, which are generally more affordable when purchased earlier. 6. Catch Up, But Don't Panic If you are just starting out with your retirement planning now, don't worry. While you may be behind on the ideal schedule, you still have time. Assess your current financial situation, including your income, expenses, existing savings, and outstanding debts. Based on this information, you can determine a savings rate. You may need to be more aggressive and ambitious, say 30-40% of your current gross income. This may require significant lifestyle adjustments. You need to rework your budget, delay major purchases, and forgo luxuries, but the results can be transformative. Compounded over the next 25 years, these contributions can bridge the gap between your current situation and a financially stable retirement. If you receive any windfalls, such as tax refunds, bonuses, gifts, or inheritance, use them toward boosting your retirement accounts, paying off debts, or strengthening your emergency fund. Catching up may also require you to make bold or uncomfortable decisions. Downsizing your home, relocating to a lower cost-of-living area, looking for a higher-paying job, or eliminating discretionary spending may all be on the table. What may be a sacrifice today is an investment for tomorrow. And when you are over 50 and eligible, make sure to maximize the catch-up contributions to retirement accounts, which is up to $7,500 for 401(k)s and 403(b)s and $1,000 for IRAs in 2025. Based on the SECURE 2.0 Act, you may also be eligible for higher catch-ups when you reach ages 60-63. Prepare for these additional contributions to your retirement accounts. 7. Avoid Common Pitfalls Inflation, longevity, and healthcare can make traditional retirement targets insufficient. Use conservative estimates and plan for at least 80-90% of your pre-retirement income. Consult with a financial advisor to better understand how much you need for a comfortable retirement and work out an appropriate plan. Social Security is helpful but it is not designed to fully replace your retirement income. Do not rely too heavily on it, lest you are left short. Get a personalized estimate from the Social Security Administration and incorporate it into a broader income strategy. A dollar today is worth more than a dollar tomorrow. Inflation erodes your purchasing power, and taxes diminish real returns. Plan and choose investments with these two things in mind. Explore strategies life Roth conversions or strategic withdrawals to maximize tax efficiency. Many in their 40s neglect to update their wills, designate beneficiaries, or assign powers of attorney. Keep in mind that estate planning is not just end-of-life preparation. It is an essential aspect of your financial plan. Seek the help of an estate planner or lawyer for better guidance and compliance with applicable laws. Life evolves. So should your retirement plan. So should your other financial plans. Regularly revisit your goals, risk tolerance, and financial situation. Make the necessary changes and be flexible and adaptive. Final Thoughts Your 40s are a decisive decade for retirement savings. Whether you've been contributing since your 20s or are only now beginning to think seriously about the future, the strategies above can help you achieve a comfortable retirement. The key is progress, not perfection. Through consistent and prudent action, you can make the most of the years ahead, and turn midlife into a springboard on your path to financial freedom. Frequently Asked Questions (FAQs) What should people in their 40s prioritize in their retirement strategy? Focus on maximizing retirement contributions, eliminating debt, maintaining a well-balanced portfolio, and building an adequate emergency fund. It's also an ideal time to address healthcare and insurance needs. How does retirement planning in your 40s differ from someone younger? Older? Compared to those in their 20s or 30s, you must be more intentional. Younger savers can afford more risk and have longer growth timelines. In contrast, those in their 50s and 60s often prioritize capital preservation and income planning. Your 40s are a transitional period requiring both growth and risk management. What are common risks/obstacles faced while saving/planning for retirement in your 40s? Major obstacles include high-interest debt, lifestyle inflation, lack of emergency savings, inadequate insurance coverage, and underestimating future needs. Many in their 40s also have substantial financial obligations like supporting children or aging parents. It's beneficial to consult a financial advisor for personalized guidance in retirement planning in your 40s, especially if you are just starting out. What should you prioritize if you are just starting to retirement plan at 40? Focus on having a high savings rate, ideally 30% or more of your income, while simultaneously eliminating debt and building an emergency fund. Use tax-advantaged retirement accounts and recalibrate your spending to accelerate your progress. How should your strategy shift, if at all, from your 30s to 40s? In your 40s, your focus should shift from aggressive accumulation to strategic growth with risk moderation. Portfolio rebalancing is very important. Estate planning and healthcare preparation should also be part of your considerations. Your 40s are the time to make up for any shortfalls and stabilize your trajectory for retirement.
Axios
2 hours ago
- Axios
IRS outlines tax deductions from Trump's "big, beautiful bill"
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CNBC
2 hours ago
- CNBC
Trump's ‘no tax on tips' sparks questions for workers: ‘We're looking at a crystal ball,' expert says
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