The Great Resignation has been upon us for quite some time, and these days, Americans are leaving their jobs in droves. In November, a record 4.5 million Americans tendered their resignations. And given that the labor market is loaded with jobs, a lot of people aren’t hesitating to seek out better opportunities. While moving on […]
According to data from the Consumer Financial Protection Bureau (CFPB), as many as 26 million Americans are “credit invisible,” meaning they have no credit history. By and large, this means they have never had any data reported to one of the three credit bureaus; thus they are likely to encounter roadblocks if they need to access a […]
If you have the lucky problem of trying to figure out where to keep money above and beyond what you need to pay your monthly expenses, you may be uncertain as to how much is the right amount to keep in a standard savings account. Don’t fret, and don’t make any hasty decisions. Experts have […]
The average senior on Social Security is eligible for a monthly benefit of $1,657. But some seniors will collect a lot more money than that. The highest monthly benefit Social Security recipients can collect this year is $4,194. But snagging that benefit isn’t an easy feat to accomplish. If you want to set yourself up […]
Whether you’re buying your first car or your fifth, you’re probably aware that even if your plan is to finance that vehicle, you’ll need money for a down payment. Or, if you don’t want to deal with monthly auto loan payments, your goal may be to purchase a car outright. Saving up for a car […]
When people retire, especially during the months of December and January, they often make life-changing resolutions. Some involve health, entertainment, travel, family. A lot deal with diet choices. But in every case the retiree wants to be and should be in control. But that doesn’t always happen. Some new retirees suffer an unexpected and extended […]
Traditional routes of generating money during retirement (as commonly suggested by financial experts) include taking advantage of your 401(k) and receiving — and maximizing — your Social Security payments. While these are both efficient and common methods of generating income, an increasing body of evidence is indicating, for many Americans, that more funds will be […]
See if you can relate to this … You have contributed to a 401(k) or other employer-sponsored account at work, maybe you’re paying extra on the mortgage or have already paid it off, you keep cash on hand for those unexpected expenses or upcoming big-ticket purchases and you often wish there was a way to […]
For many Americans, the only area where they may have lost weight over the holidays — and likely over the last couple years — is their wallet. And as those credit-card statements begin to arrive with the reminder — and obligation — of their holiday spending, consumers should resolve now to lower their debt in […]
Delayed retirement credits are a perk the Social Security Administration offers you for waiting to draw on your benefits. Your monthly benefit is increased by a certain percentage for each month you delay starting your benefits beyond full retirement age. Once you reach that age — which is typically 67 — you can request a […]
Early on in my career, I was thrilled to snag a promotion that would no doubt make my resume sound a lot more impressive. There was just one problem: The promotion didn’t come with a raise — at least not immediately. And while my dreams of having more money to pad my savings account and […]
It’s important to build a retirement nest egg so you have income outside of Social Security to pay the bills. But not everyone is able to come into retirement with money set aside in a savings plan. And so some seniors inevitably wind up having to depend on Social Security as their sole income source. […]
