Congress is taking action to help avoid a potential retirement crisis. A bill expected to reach President Joe Biden’s desk later this year could bring about new rules involving 401(k) programs and could impact your retirement savings. “Part of this overhaul is to actually force people into saving in the 401(k) plan,” said Ted Jenkin, […]
Category: Personal Finance
4 big expenses you should factor in for retirement
Retirement planning is part savings, part guessing game. While many of your day-to-day expenses will remain the same, there are big-ticket categories that can take a large bite out of your savings. The more you can plan, the better prepared you’ll be to weather the costs. Here are four expenses to keep in mind as […]
Three money-saving challenges to save you up to $1,475 in a year
AS Americans age – it can become increasingly difficult to save money. Saving money is important because it helps protect you in the event of a financial emergency including surprise car or house repairs, and medical bills. Most importantly, saving money can help reduce your financial stress, provide you with a greater sense of financial […]
Ten steps for planning your retirement cash flow
One of the most stressful aspects of retirement can be transitioning from earning income to relying upon investments and other possible income sources to meet income needs. You have put years of hard work into your medical school and training, given most of your life to caring for your patients, and may now find yourself […]
New rules may impact your retirement savings, what you need to know
Congress is taking action to help avoid a potential retirement crisis. A bill expected to reach President Joe Biden’s desk later this year could bring about new rules involving 401k programs. How those changes could impact your retirement savings. Your retirement savings may be about to face a major and inevitable change! Lawmakers in Washington […]
7 Ways to Spend Less on Streaming Services
Most households pay for at least one streaming service. These apps provide convenient entertainment, but they come at a cost. If you feel like you’re spending too much money on your favorite streaming apps, you may be able to make changes that help you trim your spending. Here, you can find out how to spend […]
Stocks Are Falling Again. Should You Pull Your Money Out of the Market?
Here we go again. To say that 2022 has been a rough year for investors would be a pretty accurate statements. Stocks fell into correction territory earlier on in the year, and after staging a brief recovery, investment values are once again falling. We can thank a host of factors for that, from tensions overseas […]
6 things to consider before you move in retirement
If you’re seeking a new lifestyle in retirement, you’re not the only one. Of those who purchased new homes, 18% were younger baby boomers, ages 56 to 65, and 14% were older boomers, ages 66 to 74, according to the 2021 Home Buyers and Sellers Generational Trends Report from the National Association of Realtors Research Group. They move for […]
How to Prepare for Food Inflation as Prices Rise
It’s getting expensive to fill up your grocery cart. Food prices shot up nearly 9% in March over the prior year, according to the Bureau of Labor Statistics, marking the largest annual food inflation increase in 40 years. What is food inflation? Simply put, it’s an increase in the price of food. Economists believe the […]
3 money conversations you can’t be afraid to have with friends, according to a financial therapist
We’ve all been there: The nervous shuffle of credit cards and Venmo QR codes that happens right after the server brings the check at the end of a meal with friends. If you’re the friend who consciously skips appetizers and drinks, yet still gets stiffed because the group wants to split the bill evenly, your […]
Stocks Could Crash at Any Time. Here’s How to Prepare.
Don’t stress — just get ready. The start of 2022 has been interesting, to say the least, from a stock market perspective. Stocks slumped for much of January and February before staging a modest comeback later in March. But with so much uncertainty abounding between inflation and the ongoing crisis overseas, we can’t write off […]
Retirement Hack: Don’t Be One of Millions Leaving Forgotten 401(k) Money on the Table
The average American could need anywhere from $550,000 to $1 million dollars for retirement, according to GOBankingRates. If you’re trying to build your nest egg, every extra dollar might help. A study by Capitalize found that 24.3 million people may have left as much as $1.35 trillion in money behind in forgotten 401(k) funds. And […]