You may have certain financial goals for 2022, like buying a home or making renovations to your current one. To meet those goals, you may need to whip your credit score into better shape so you can do things like qualify for a mortgage or renovation loan. Here are some steps you can take to boost […]
It’s an idea that isn’t always given much thought, but not every type of investment is well suited for every type of investment account. Higher-risk trades that might result in a loss often make the most sense when placed using a taxable brokerage account since that loss can be used to lower taxable income. Similarly, […]
Social Security benefits can be a lifeline in retirement, bridging the gap between what you have saved and what you need to pay the bills. However, the average retiree only receives around $1,500 per month in benefits, according to the Social Security Administration. While that money can go a long way, if you’re depending on […]
While it is unlikely that the general public will get a fourth stimulus check, an influential, non-partisan group that lobbies on behalf of senior citizens is trying to persuade Congress to send a $1,400 check to Social Security recipients so they can battle inflation. The Senior Citizens League sent a letter to members of Congress […]
Want to borrow like a rich person? You can follow these rules too. If you have a lot of money, you probably don’t need credit for anything since you could pay cash for houses, cars, and other purchases. But rich people do borrow frequently, taking out loans such as mortgages and using credit cards. The […]
Many Hispanic Americans aren’t saving enough — or at all — for retirement. More than two-third of Hispanic households aren’t putting aside anything through workplace savings vehicles such as 401(k) plans, a Morningstar report found. Private retirement plans like individual retirement accounts aren’t filling the gap. Only 8% report having an IRA or similar plan. […]
The decisions to be made are many, and understanding the long-term ramifications of those decisions is paramount, considering that your retirement years could be as many as those spent working. The numerous options you will face can become a labyrinth of choices leading many people to attend YouTube university in search for answers, while leaning […]
The pandemic recovery has not been uniform. The economy is recovering at varying rates; the poor are getting poorer and the rich are getting richer, says Ken Mooso, CEO at social investing app PersonaFi. “Younger generations are being left behind,” he said in a discussion on catering to the increased awareness around financial sustainability and bolstering trends […]
There’s a growing push for students to get personal financial education in high school. But, according to U.S. Secretary of Education Miguel Cardona, that might not be early enough. “When I talk to students now, they talk about the need for financial literacy learning in a practical sense — how to look at debt and […]
The Social Security Administration said on October 13 that Social Security and Supplemental Social Security payments will be going up by 5.9% in 2022. Advocates for older Americans, however, caution that this won’t be enough to keep up with the inflation that many will be dealing with. This is a cost of living adjustment (COLA), […]
Federal Reserve officials are worried that inflation could last longer than they had anticipated, according to minutes from a recent meeting released this week. Now, a survey from Global Atlantic Financial Group shows that retirement age investors ages 59 to 75 are concerned inflation could wreak havoc on their investments. More than 7 out of […]
Saving for retirement can be a challenge, but it’s crucial for every senior to have a nest egg they can rely on. If you want to help make sure you have the money you need for your later years, there are a few mistakes to avoid when it comes to your retirement savings efforts. Here […]
