For many, paying off debt and putting money away for retirement are the first financial goals to work toward. In 2021, an individual is allowed to contribute $19,500 in “elective salary deferrals” to a 401(k). The employer match does not count against this contribution limit. But once you’ve maxed out your retirement accounts for the […]
Give yourself a big pat on the back if you have built up a nice retirement nest egg after years of scrimping and saving. Congratulations, you’re halfway there. Many investors are so focused on accumulating wealth that they neglect the second part of the equation – pulling out money so that you don’t deplete it […]
Key Points Managing your IRA wisely could leave you with a lot of money for your senior years. A few key moves on your part could make it so you enjoy retirement to the fullest. You’ll probably need more money than your Social Security benefits to maintain a comfortable lifestyle in retirement. Those benefits will only replace […]
Your monthly Social Security benefit is calculated using your wages from your 35 highest-paid years in the workforce. From there, the age you file at will determine how much money you get. You’re eligible for your full monthly benefit based on your earnings history once you reach full retirement age (FRA), which is 66, 67, or somewhere in between, […]
Give yourself a big pat on the back if you have built up a nice retirement nest egg after years of scrimping and saving. Congratulations, you’re halfway there. Many investors are so focused on accumulating wealth that they neglect the second part of the equation – pulling out money so that you don’t deplete it […]
Key Points Traditional retirement accounts have restrictions that can limit their usefulness in certain situations. Retirement accounts aren’t the only places you can stash your savings. Familiarize yourself with the pros and cons of each type of account you’re using, so you can easily determine which makes the most sense for you. Keeping your retirement […]
If you’re the parent of a young adult, you may be asked to co-sign for a car loan or an apartment lease. Before you agree, know what’s at stake — you could be putting your own financial security at risk. What co-signing really means When you co-sign, you become fully responsible for someone else’s debt. […]
History repeats itself. Here’s how to get ready. How do we know that the meteoric rise in U.S. housing prices can’t be sustained? Common sense and history. Common sense tells us that something will give. It may be that as more people sell their homes and inventory opens up, supply will keep pace with demand, […]
It’s not unrealistic to think you could end up with $400,000 or more in lifetime Social Security benefits, but most people probably can’t survive 20 or more years of retirement on that alone. Investing can help you cover the rest, but you have to choose the right investments if you want your nest egg to […]
With the national eviction ban expiring today, Leopold expects he and his wife, Vivia, and their six young children, will be forced out of their home in Deerfield Beach, Florida, where they’ve lived for the past three years. They’re one of millions of families in America that are still behind on rent, and could be […]
A401(k) is a savings and investment account that you may have access to at work. But putting money into it means that you take home less each month. Which may have you asking, it really worth it? A 401(k) has many advantages that could catapult you into retirement success. Here’s how. How your money can […]
This may be a shocker, but that all-important number in the world of borrowing — your credit score — doesn’t really exist. Well, at least not in singular form. Believe it or not, you couldn’t count all of your possible credit scores, even if you used all of your fingers and your toes. Simply put, […]
