Legislation that would improve the retirement savings system for U.S. workers may get a vote in the House of Representatives this week. The House could vote on the Securing a Strong Retirement Act, or Secure Act 2.0, as early as Tuesday. “By expanding automatic enrollment in employer provided retirement plans, simplifying rules for small businesses […]
Even before the coronavirus pandemic, a growing cohort of younger people said they were pessimistic about their financial futures. In the U.S., growing wealth inequality, ballooning student loan balances, unaffordable housing, and stagnant wages loomed large over millennials and the oldest members of Gen Z. And things don’t seem to be getting any better; in […]
There’s a running joke that it’s impossible to enter a Target location and spend less than $100. The reality is that Target offers a wide range of items at affordable price points. But the store’s massive selection can also lead to overspending. Now it just so happens that the closest Target to my house is […]
What is financial independence and why are more people talking about it? Financial independence (or financial freedom) is the financial state where you have acquired enough passive income (through investments), that you don’t ever need to work again in your lifetime, to earn your living. World-wide, the concept of FIRE (Financially Independent, Retire Early) has […]
Age 62 is a pretty important retirement milestone. That’s because it’s the earliest age you’re allowed to file for Social Security. It also happens to be a popular age for seniors to claim their benefits. If you’re thinking of signing up for Social Security as soon as you’re able to, it’s important to understand the […]
ORLANDO, Fla. – On average, about 10,000 baby boomers turn 65 each day. People born in this generation are now either in retirement or close to it. But if you’re nearing retirement age, there are some common mistakes that can ruin your whole plan. When do you want to stop doing sitting in rush hour […]
There are millions of Americans who are currently without a retirement program or plan, but that may come to an end for many. In the state of Connecticut, a program called the MyCTSavings Program will help people with retirement plans and savings. The program will give people Roth IRAs which will be employer-sponsored. Usually, they […]
Retirees need access to plenty of money. REITs could provide it. Retirement can be an exciting period of life, but also a challenging one. That’s because the cost of retirement can be tough to nail down ahead of time — which makes it a difficult milestone to save for. As a general rule, retirees are […]
There are about 724 billionaires in the U.S., according to Forbes, and more than 2,700 globally. They come from various backgrounds and made their fortunes in various different ways. But when you look at their attitudes and behaviors as a whole, there are some traits many of them have in common. While few of us […]
Everyday expenses add up quickly for individuals and families alike. Did you know the average U.S. household spends over $5,000 every month? Find out what Americans are spending their hard-earned money on and see how your monthly spending compares. Life can get expensive, and sometimes it’s hard to trim necessary costs. If you feel like […]
If you’re retiring from your job, you need to make sure your finances are in order. And for many seniors, this means making a decision about what to do with the home they live in. While some seniors prefer to stay put in their current house, others may want to sell – or may need […]
Seeing your credit score drop can be disheartening. But should you sweat a 20-point decline? Your credit score isn’t just a random number. Rather, it’s a calculation that tells lenders how risky or trustworthy a borrower you are. A higher credit score could lead to more affordable borrowing opportunities, like a lower interest rate on […]
