You’re planning ahead for retirement, and determined to invest in a diversified basket of stocks, bonds and alternative investments. Maybe you have no exposure to income properties now, or maybe you’re a landlord either as your primary business or as a part-time investor. If it’s the latter, you’re likely ready to shed the responsibilities in […]
Many people aim to retire with $1 million or more in savings. Now the reality is that you don’t necessarily need that much money to enjoy retirement to the fullest. But you do need a decent level of personal savings, especially since you can only count on Social Security to replace about 40% of your […]
Achieving a portfolio balance of $3 million is no easy feat: this usually doesn’t happen by accident. If you earn $70,000, some of the lofty retirement numbers you hear might seem daunting. But there are a number of ways to get to $3 million as long as you can be both patient and consistent. Here, […]
If you own a vacation home, you’ve probably considered renting it out occasionally to help offset some of the costs. As it happens, Uncle Sam has also considered this possibility and is poised to collect some of that income depending on the number of days each year the property is rented. First and foremost, pay […]
It’s easy to roll our eyes at outlandish spending from billionaires – say, buying NFTs or yachts – but their spending is good for the overall economy. Their savings, however, are not so good, according to new findings published in the Chicago Booth Review, which reports that the 1% has “buried” the middle class in […]
A high-yield savings account can offer a secure place to keep money for the short or long term. Compared to traditional savings accounts, high-yield savings also can offer an interest rate that’s substantially higher than the national average. Getting the best rate on savings may be important to you if you’re hoping to grow your […]
The Missouri Department of Natural Resources is providing $5 million in loan financing for entities to make investments that reduce their energy use. The department’s Energy Loan Program is accepting applications until Sept. 30, and more information for applicants is on the program’s website. Public schools, public higher education institutions, not-for-profit hospitals and local governments […]
Just a couple days ago, I was sitting with a client, two of his grown children, a CPA, a lawyer and my partner in crime, the other “Free Money Guy,” Mark Perkins. We were wrestling with the potential changes in the tax laws, specifically the changes to capital gains and inheritance taxes being discussed in […]
Ready or not, a stock market crash is coming. Although we’ll never know precisely when a crash will occur, how long it’ll last, how steep the decline will be, or (in many instances) what the catalyst for the decline will be, history shows that crashes and corrections are a normal occurrence. History is also pretty […]
The realities you face when you stop working might be a far cry from your retirement dream. Of course, retiring broke or not being able to retire at all are among the worst-case scenarios. But there are plenty of other snags you might encounter. If you haven’t properly prepared for leaving the working world and […]
Shelby Johnson rarely turns on her AC during the summer. “I will drop curtains, blinds, whatever,” Johnson said. Shutting curtains in rooms with direct sunlight will help keep the hot air out, and cooler air in. Johnson says she saves on her utility bill during the summer, but she is not compromising her comfort. “We […]
The surge in early retirements spurred by the pandemic is increasing inequality among Baby Boomers in the U.S., with older Black workers without a college degree more likely to be forced to exit the labor market prematurely, a study showed. At least 1.7 million older workers retired early because of the pandemic crisis, according to […]
