SINGAPORE — As youths graduate and take on their first jobs, it is important for them to understand the Central Provident Fund (CPF) scheme and how they can maximise and grow their funds. This is part of a series where Yahoo Finance Singapore will focus on different aspects of millennials and finance. In this fifth part, we […]
Category: Personal Finance
Here’s How to Quintuple Your Retirement Savings
Retiring on Social Security alone could leave you really cash-strapped. That’s because those benefits will only replace about 40% of your pre-retirement wages if you’re an average earner, and most seniors need about twice that sum to keep up with their expenses. In fact, you’ll often hear that it’s important to save in an IRA […]
Is the S&P 500 All You Need to Retire a Millionaire?
It’s no surprise that exchange-traded funds (ETFs) have become so popular over the past decade. They offer investors the ability to invest in wide swaths of the market in one portfolio that can be traded like an individual stock. For the investor who doesn’t have the time, resources, or inclination to hire a broker or […]
How To Protect Your Retirement Portfolio Against Market Pullbacks
It’s never too soon or too late to start preparing for your retirement. With the world feeling more volatile than ever, the stock market is bound to encounter peaks and valleys in the coming years. Whether you’re a new investor, you’re preparing to retire, or you already have retired, it’s essential to consider the effect […]
How to save your money during inflation
Inflation is at an all-time high and it’s getting worse. The increase in prices is digging holes in wallets and savings accounts. If you’re concerned about your money then here are five tips, according to recent reports, to protect your money during this rising inflation. Invest in stocks The stock market tends to beat inflation with its […]
3 Unexpected Sources of Retirement Income
There’s a good chance that you’ll need additional income in retirement. Social Security, for example, will probably deliver less income than you expect. The average monthly retirement benefit is only $1,560 — just $18,720 per year. Here are three sources of income that you may not have thought about. 1. Your home Your home may […]
4 Money Habits to Adopt Before 2022 Rolls Around
Many people make financial resolutions at the start of a new year with the goal of improving the way they manage their money. But there’s no reason to wait until next year to adopt better money habits. In fact, you still have plenty of time left in 2021, and you may as well start making […]
5 Reasons You Don’t Want to Start the New Year With Poor Credit
With the holidays rapidly approaching, now’s the time of year when spending tends to increase. From gifts to travel to lights and decorations, getting into the holiday spirit can be a costly endeavor. Not shockingly, many people wind up in debt in the course of celebrating the season. Not only can holiday debt be costly, but […]
It’s not too late to make these 4 retirement moves
A fast-approaching retirement may be one of life’s most stressful experiences. You wonder if you’ve done enough to save. You worry you’ll outlive your wealth. You might even decide that retirement simply isn’t an option for you. Fortunately, whether your targeted retirement date is next week or next year, you still have time to strengthen […]
52% of workers feel they’re behind on retirement savings. These tips can help them catch up
Many Americans are having a crisis of confidence when it comes to whether their savings will meet their retirement goals. To that point, 52% of working Americans feel they are behind on their retirement savings, according to a new survey from Bankrate.com. They may be on to something. There’s a $4 trillion difference between the […]
Here’s why budgets don’t work for a lot of people
If you’re interested in personal finance, you’ve probably heard the tried-and-true advice that budgeting is essential to achieving financial independence. We’re often told that if we don’t diligently track our income, expenses and debt each month we won’t ever get our finances in order. It’s easy to understand why so many personal finance experts recommend […]
Should You Switch Careers in 2022?
Some people stick with the same career their entire lives. Others mix things up, either because they want to keep work interesting or because they realize they’ve chosen the wrong field in the first place. No matter which camp you’re in, you may be contemplating a career change in the coming year. To know if […]