Credit plays a vital role in helping people realize their personal and financial goals. A good credit score can help people qualify for favorable home loan terms, ultimately paving the way for them to move into their dream homes. Strong credit histories also can help consumers earn perks, and young people who learn to use […]
You’ve worked hard. You’ve built a retirement savings balance of $1 million. You’re ready to retire. And you want $100,000 a year of retirement income, including your Social Security benefit. Is that possible without taking on excessive risk? High-yield investments can be volatile. Many higher yielding securities face higher risk of default. But many leading financial advisors say […]
President Biden took office at a time when millions of workers have had to readjust their vision of their retirement years due to pandemic-induced job losses and rising health care costs. To compensate for these financial shortfalls in golden years, Matthew Rutledge, a research fellow at the Center for Retirement Research at Boston College, recommended […]
Consumerism is as American as apple pie, and for millions of Americans, so is credit card debt. While this type of debt is a common financial burden across generations, it’s generally discussed as the result of irresponsible and overly materialistic youthfulness. That reductive trope skips over a lot, namely that credit card companies have a […]
Getting a Healthy Credit Score and Keeping ItDo you have strong desires to own your first house? Maintaining a good credit score is important, especially when you are young and have many years of borrowing ahead of you. If you are under 30, try not to over-borrow. When you plan to buy a house, you […]
Life is full of making hard financial decisions, but saving shouldn’t be one of them. If you ever feel like there are so many choices to make with your money that saving often gets left on the back-burner and nothing happens at all (aka decision paralysis), simply try automating your savings. This way, you only […]
Working in retirement might sound a little like an oxymoron, but it’s a reality for many seniors who either can’t afford to quit the workforce completely or simply don’t want to. It’s not inherently good or bad. Like anything, it depends on your personal preferences and financial situation. Here’s a brief overview of some of […]
Many seniors today rely heavily on Social Security to manage their living expenses, and one day, you might do the same. That’s why it’s important to know the facts about the program, and that means not falling victim to these dangerous falsehoods. 1. The program is going bankrupt Social Security is facing its share of financial woes. […]
If your 70th birthday is approaching and you haven’t started your Social Security benefits yet, you’ve reached ultra-elite status. Just 6.5% of new Social Security recipients are 70 or older. But now that you’ve made it to the finish line, there’s no reward for waiting any longer. Here’s exactly what you should do to claim […]
As Nate Wlodarchak drove people to the polls on Election Day, he couldn’t stop picturing his life without student debt. On the campaign trail, now President Joe Biden had promised to forgive $10,000 of the loans for all borrowers, which would practically reset Wlodarchak’s balance to zero. Without the loans weighing on him, Wlodarchak, 37, […]
First, we stopped paying for things. Gym memberships, movie tickets, Ubers, restaurant bills, fancy clothes. But as the pandemic carried on and more of our lives switched from in person to over screens, we started racking up new costs. Streaming services, delivery apps, online fitness classes, virtual learning apps, the Zoom account that lets you […]
The start of a new year is a great time to consider your personal finance goals. Adding to your savings might be at the top of the list, especially if the coronavirus pandemic left you financially strained. “One thing the pandemic has revealed is a real need for emergency savings,” said Matt Nadea, wealth advisor at […]
