A healthy savings account balance could be the one thing that gets you through your next financial crisis, whether it’s an unexpected home repair, the need for a new car, or the loss of your job. In fact, as a general rule, it’s a good idea to sock away enough money in an emergency fund […]
Category: Personal Finance
Want to Leave Money Behind to Your Heirs? Keep Your Money in This Retirement Account
Your primary goal in saving for retirement may be to ensure that you have enough money to cover your expenses during your senior years. But you may also have a secondary goal — to amass enough of a fortune to leave some of that wealth behind to your heirs, whether it’s your grown kids or […]
Less Than Half of Gen Z Is Optimistic About Reaching Retirement Goals, Survey Finds
The oldest members of Gen Z are still decades away from retirement, but many are already worried about being able to retire when and how they want to. Nearly a third (32%) of Gen Z predicts that they will have to retire later than planned due to the COVID-19 pandemic, a recent Schwab survey of […]
Don’t invest in crypto before a 401(k) or IRA, warns these experts
Many investors are pouring their cash into crypto — with the youngest segment making up the majority. A recent survey by Select and Dynata found that nearly half (45%) of 18- to 34-year-olds say they have purchased crypto. They represent the greatest share of crypto investors, followed closely by 37% of 35- to 44-year-olds. Meanwhile, […]
Can You Retire a Millionaire with ETFs Alone?
There is currently about $7 trillion invested in exchange-traded funds, or ETFs, in the U.S. — that’s up about 27% from the end of 2020, and it’s more than seven times the total from just a decade ago in 2010. ETF assets have been growing at a roughly 25% annual rate over the past decade, […]
Here’s Exactly How I’d Start Retirement Planning for a Newborn
When you have a newborn baby, planning for your child’s retirement may not be at the forefront of your mind. But the reality is, you can make life a lot easier in the future for your new bundle-of-joy if you give a little bit of thought to this issue as soon as possible after birth. […]
How much you’ll get in retirement if you only receive Social Security – and how to boost payments
AMERICANS with no retirement savings and who plan to just claim Social Security in their golden years may be in for a nasty surprise. That’s because Social Security isn’t typically meant to replace your entire income when you retire. In fact, the rule of thumb is that Social Security benefits replace around 40% of pre-retirement income. Nearly […]
3 Key Decisions That Could Leave You Richer in Retirement
In the course of your retirement planning, you’ll be faced with a number of important decisions that may be tough to navigate. But it’s essential that you give them a lot of thought. These three choices, in particular, have the potential to shape your retirement for the better. But if you botch them, you could […]
Rents Have Soared Over 10%. 3 Things You Can Do to Keep Up
These days, inflation is causing everything to rise in cost, from gas to groceries to apparel. And now, rising rents can be included on that list. Single-family home rents were up 10.2% on an annual basis as of September, according to a new CoreLogic report. Many people are now struggling to keep up with rising […]
Survey Shows These 2 Positive Financial Habits Emerged From the Pandemic
The coronavirus pandemic had a devastating impact on a lot of people’s finances. Many lost their jobs in 2020 when lockdowns were put into place, while a large number of Americans kept working but suffered income loss. The silver lining is that many people learned some important financial lessons during the pandemic. Now, they’re using those […]
Want a 24% Raise in Retirement? Here’s How to Get It
Many seniors worry about not having enough money to pay their bills during retirement — and that includes those who manage to build a nest egg during their working years. If you’re scared that your savings will fall short, then it pays to do whatever you can to get your hands on more retirement income. […]
3 People Who Shouldn’t Invest in a Retirement Account
Key Points Retirement is an important financial goal, but it shouldn’t always be at the top of your priority list. In certain situations, a retirement account may not be the best place for all of your retirement savings. Saving for retirement is a big job, which is why most people work on it as soon […]