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 […]
It’s not something you’ll want to gloss over. Workers are constantly advised not to rely too heavily on Social Security. That’s because those benefits generally will not provide enough income for retirees to maintain the standard of living they’re used to. Still, many seniors do inevitably wind up depending on Social Security to make ends meet. And that’s why […]
Having a partner in retirement planning can make your job a lot easier. You have someone to split the savings burden and to help pick up the slack if you’re not able to save as much as you’d like in a given month. But there are also some added challenges to retirement planning as a […]
You could end up retiring with a lot of money if you play your cards right. Workers are often warned not to rely too heavily on Social Security and instead, take steps to build savings to bring with them into retirement. And your goal may be to amass a large nest egg — one that […]
Just when you thought inflation couldn’t get any higher, the U.S. Bureau of Labor Statistics announced on March 10, 2022 that the Consumer Price Index (the average price of a standard assortment of consumer goods) had risen nearly 1% in February. This was after the CPI had already risen more than half a percent in January […]
The vast majority of workers dream of one day retiring with enough money put away to live out their golden years in style. But for some, a comfortable retirement is just that — a dream. A survey released this week by financial services firm Principal paints a grim picture of U.S. employees’ retirement outlook. Principal […]
You might not be planning to experience unexpected financial shocks in retirement. But you should be according to the results of a survey recently published Society of Actuaries Research Institute’s Aging and Retirement Strategic Research Program. According to a recent Society of Actuaries survey, about half of the pre-retirees report experiencing some type of unexpected […]
Whether you’ve come into a big windfall or accumulated wealth through disciplined saving, it’s important to protect your money from fraud or insolvency at your financial institution. The Federal Deposit Insurance Corp. insures bank deposits for up to $250,000 per individual account or $500,000 for joint accounts. The FDIC offers a tool you can use […]
Florida is officially the largest state to mandate a financial literacy course for high school graduation. On Tuesday, Florida Gov. Ron DeSantis signed bill SB 1054 into law. The legislation was unanimously passed by both the state House of Representatives and Senate in early March. “What the bill is doing with financial literacy is really […]
