If you earn enough work credits in your lifetime to be eligible for Social Security, you can sign up for benefits as early as age 62. Doing so will mean slashing those benefits on a permanent basis. It’ll also mean getting your money a lot sooner than if you were to wait until full retirement […]
Did you know nearly 40% of Americans can’t cover a $400 expense from their savings? People give many different reasons for not being able to save money, and I’ve heard them all. Some people do have it harder than others, but I’ve also seen enough single moms work three jobs to change their family tree, […]
OBSERVATIONS FROM THE FINTECH SNARK TANK While traditional banks advertise a 0.05% interest rate for deposits in their savings accounts, a growing number of consumers have turned to a new crop of mobile apps—automated or “self-driving” savings apps—to help them save. In a recent consumer study, Cornerstone Advisors found that savings apps like Acorns, Digit, […]
Credit scores are important — good credit helps you qualify for better loan terms, get approved for the best credit cards, and snag lower interest rates on a mortgage. On the other hand, bad credit can keep you from getting hired for a job, cause you to pay more for insurance, and even interfere with getting […]
Last spring, in response to the coronavirus crisis, the three major credit bureaus — Equifax, Experian and TransUnion — began offering consumers a free credit report at www.annualcreditreport.com every week. But unless the bureaus provide a last-minute extension, the free weekly reports will last only through April. You’ll still be able to get a free […]
One of the most common and significant mistakes people make when it comes to managing money during retirement is relying on “average returns.” Many individuals assume that if their portfolio earns an average return of 6% and they withdraw 5% of income in their first year of retirement and continue withdrawing the same dollar amount […]
As you move toward retirement, the investments you’ve relied on to build a retirement savings portfolio may not be the best fit when it comes to generating retirement income. If you’re like most near-retirees, you’ve worked hard to save through your company 401(k) plan, IRAs or Roth IRA accounts. Most company-sponsored retirement plans offer a […]
Choosing the right retirement plan can be confusing and overwhelming. Multiple options are available, which is a good thing, but understanding their attributes and intricacies takes time. Additionally, there are frequent updates and changes made by the IRS, such as the CARES Act in 2020 and SECURE Act in 2019, that change the landscape. The […]
Credit scores are on the rise in the United States. According to the Experian 2020 Consumer Credit Review, the average credit score rose to a record high of 710 this past year, which is a growth of seven points from 2019. Right now, 69% of Americans have a good credit score of 670 or above. […]
Every workplace has to spend money. Any employee can find a way of cutting down on the costs. These savings don’t have to be massive. Everything that you don’t spend is going to help the company a lot. Below are some great tips to help in reducing expenses at a workplace Savings cost is the […]
The IRS gave millions of Americans this week an extra month to file their taxes, delaying the typical April 15 deadline to May 17 — but if you haven’t received your third stimulus check yet, you should consider filing as soon as possible. The $1,400 payments included in President Biden’s American Rescue Plan are directly […]
If knowledge is power, many retirement savers in America are feeling pretty powerless. Half of people in their mid-40s to late 50s saving for retirement don’t know how their money is divvied up between stocks, bonds and cash, according to a survey released on Thursday by Schroders. That was true even for respondents between the […]
