If you’re still waiting in line at your local bank branch to make transactions or writing checks and mailing your bills, it’s time to finally make the switch to online banking in order streamline your finances and even save a little bit of money (not to mention a lot of time). You may be reluctant […]
Saving for retirement sometimes gets pushed to the backs of our minds, especially when we’re younger and tell ourselves that we have a really, really long time before we’ll have to think about our golden years. However, saving for retirement means guaranteeing ourselves income to live off of when we’re older and no longer working. […]
The news that Empower Retirement would be buying the retirement plan business of Prudential Financial Inc. for $3.5 billion is the latest indication that consolidation in the retirement plan financial services industry is showing no signs of slowing down. As a result, employers that sponsor 401(k)s or similar plans may have fewer options among firms […]
When Bernard heard about a token named after the popular South Korean Netflix series “Squid Game,” which chronicles the lives of cash-strapped adults who play in a deadly tournament for a big jackpot, he did a quick scan on Google to see if the coin was legit. After catching headlines – but before reading the […]
Retirees in their early years want to live it up — spending more during those years than what people traditionally have done, while at the same time keeping money in their workplace retirement plans to continue building wealth. Problem is, they’re taking more money out of their plans than they have put in, and many could potentially […]
After spending years working hard and saving up, retirement is that welcome reward of relaxation, travel, and new hobbies, or even a transition to something new such as consulting or a new business endeavor. While most people can say definitively that they would like to and plan to retire, the issue of when is often […]
The latest iteration of President Biden’s Build Back Better bill, the $1.75 trillion social spending initiative that has been struggling to get votes in Congress, now preserves a lucrative retirement account loophole that was initially slated for elimination. For months the bill, which once had a $3.5 trillion price tag before getting cut in half, […]
The holidays are fast approaching, and consumers are expected to shell out $1,463 per household on presents this year, according to Deloitte’s Holiday Retail Survey, up 5% from last year. That’s no small chunk of change, and you might be worrying how you’ll pay for all those presents without racking up a bunch of credit […]
Here’s why it pays to downsize while you’re still working. It’s common practice for people to downsize their homes once they enter retirement. For one thing, retirees with children often reach empty-nester status by the time their careers come to a close and therefore don’t need as much space at home. Also, retiring can mean […]
Many freelance workers are drawn to self-employment by the flexibility and freedom to be their own boss. But one big tradeoff is a lack of retirement benefits. New research by the Pew Charitable Trusts found that just 21.9% of nontraditional workers—defined as contingent, gig, alternative, or independent workers—participate in a workplace-based defined contribution plan. Defined […]
“Creating a culture of savings is a neural process that triggers decision-making and then an action. This leads us to analyze that the barriers or limitations to taking care of our finances are often in the mind and not in our income. It is important that we change our mindset and give savings the importance […]
STATEN ISLAND, N.Y. — New Yorkers, your wallets may soon catch a needed break thanks to recently introduced legislation. Co-sponsored by Assemblymembers Michael Tannousis (R-Staten Island/Brooklyn), Michael Reilly (R-South Shore) and other Assembly Republicans, the Inflation Relief & Consumer Assistance Plan would suspend sales tax on a variety of goods and services for two years […]
