Banks are starting to pay a higher return on your cash — good news for savers who’ve seen their stockpiles languishing from a gruesome combination of low interest rates and high inflation. However, some banks are moving faster than others. Some, particularly traditional brick-and-mortar shops, may not budge for a while. At least 10 banks […]
During inflation, consumers can adjust their spending and saving strategies to help lessen the impact that inflation has on the value of their money. It’s important to have liquid cash set aside for emergencies, but beyond an emergency fund, there are other ways to save money and help retain its value. These methods include seeking […]
It is now allowable to add cryptocurrency to your retirement portfolio. But should you? Bitcoin is the most well-known cryptocurrency, and Ethereum is a close second. Cryptocurrency, which only exists digitally, works by utilizing an encrypted algorithm to send payments, which makes it more secure and without the need for a third party such as […]
By the time you turn 40, the pace of your life is likely a lot different from what it was when you were fresh out of college in your 20s or getting focused on your life and career in your 30s. Your biggest concerns now probably revolve around balancing multiple priorities: being a good partner […]
“If I want to retire early, I should solely focus on saving money as much money as possible right now. I’ll figure everything else out later!” This is a common way to think, especially for young people who want to retire early. But as a former portfolio manager and the head of retirement solutions for […]
Inflation hit a 40-year high of 8.5% in March. Some people don’t factor in inflation when doing their retirement planning, but the significant spike in prices recently should be a trigger for all of us to look at inflation with more scrutiny. Because the cost of everything is going up, that may mean that you […]
Q. I’ve never invested on my own. As part of my divorce, I get half my husband’s 401(k). But how do I know what it should be invested in? This is my only retirement money and I don’t want to mess it up. — Newbie A. We’re glad you’re asking and taking this seriously. How […]
These will cover all your bases. Saving and investing for retirement doesn’t have to be complicated. With just a few index funds, investors can have a well-rounded, diversified portfolio poised to put them in a good position to be financially comfortable by retirement. Here are four exchange-traded funds (ETFs) that can carry you to retirement. […]
No one likes planning for the worst-case scenario. However, if you ever find yourself in a bad situation, having some money saved can do wonders for your financial situation. Not to mention help out your peace of mind, as well. One of those potential emergencies can be a financial downturn, which can hit particularly hard […]
Introduced in 1978 by the passage of the Revenue Act by Congress, the 401(k) is now more than 40 years old, and the first people who have saved via a 401(k) for their entire career are hitting retirement. This dynamic shines a light on a significant gap in the American retirement savings ecosystem, namely that […]
If you’ve recently job hopped and secured a higher salary — or you just haven’t updated your income information with your card issuer recently — there’s a very simple step you can take to help raise your credit card’s credit limit. By securing a higher credit limit, you’ll be giving yourself more spending power and […]
If you have a 401(k) account, you’re already taking a very important step when it comes to saving for retirement. This type of account is provided through your employer and uses pre-tax money to help you save up for those years when you won’t be working. Most employees are automatically enrolled in an account by their employer […]
