HARRISONBURG, Va. (WHSV) – Prices at the grocery store and at the gas pump continue to rise. One local financial advisor said that the current state of the market can impact your long-term plans, especially for retirement. “Once the money started getting printed, people got stimulus checks and interests rates dropped, institutions could borrow money […]
Used cars are suddenly so much more appealing than they used to be. With prices near historic highs and inventory near record lows, some officials are warning people with car loans that unscrupulous lenders may use more aggressive – and possibly illegal – tactics to repossess cars and beef up their lots. At the same […]
Americans are getting crushed by inflation across the board, but one area that isn’t regularly addressed is energy prices. CPI data released Friday morning detailed that in the past year, the energy index soared 34.6%. In May alone, the energy index jumped 3.9%, natural gas rose 8% and the electricity index increased 1.3%. Home energy […]
You’ll regret putting this off until later. Almost everyone carries debt from time to time, and it’s not always a big deal. But as you approach retirement, you want to shed as much debt as possible. With fewer payments to worry about, you can stretch your existing savings further. But getting rid of debt, especially […]
RALEIGH, N.C. (WNCN) — A report out by the federal government Friday shows that inflation in May was rising at a level we haven’t seen in four decades. That means you’re paying more at the pump, at the grocery store and pretty much everywhere. “Our grocery bill has definitely gone up, and then the gas […]
In the early years of 401(k) saving, reaching a six-figure balance can feel impossible. You see the money deducted from your pay, and with little momentum in your retirement account balance, you might naturally wonder if all that saving is worth it. Rest assured, you will see the value of those contributions eventually. But you […]
The traditional view of a work-free retirement is fast becoming a relic of prior generations. In the 2022 Retirement Confidence Survey by Employee Benefit Research Institute (EBRI), 70% of workers expected their paychecks to be a source of retirement income. The benefits of continuing to work are clear. You can keep contributing to your retirement […]
It is easy to identify things you could have done differently knowing what you know today. If only we had a crystal ball, life could be so much easier. Well, it is not a crystal ball, but we do have those who have gone before us to pull from their experiences to help improve our […]
Retirement is a time of great joy for many people, but it can also be full of uncertainty. Traveling more, spending extended amounts of time with family, and taking up new hobbies are some of the ways in which a post-retirement life may look very different. However, retirees often face significant risks, especially when it comes […]
Social Security is, arguably, the U.S.’s most successful and relied-upon social program. When national pollster Gallup surveyed retired beneficiaries and future retirees in April, it found that 89% of the currently retired lean on their monthly benefit to some degree to make ends meet. Meanwhile, a combined 84% of nonretirees believe they’ll need Social Security income as […]
Saving in a 401(k) plan may be tough for workers who switch jobs frequently — a dynamic that’s come into greater focus amid the Great Resignation. In 2021, 14% of people saving in a 401(k) plan left their employer, according to a new report from Vanguard Group, which is among the largest retirement plan administrators. […]
Sometimes we have all the elements for a great retirement, but until we put them together the right way, we don’t get the result we want. I call it the H2O problem. We have plenty of oxygen in the atmosphere. Likewise, hydrogen. It seems simple, but until two atoms of hydrogen combine with one of […]
