Stock markets in the U.S. and around the globe have dropped since last week when President Donald Trump introduced tariffs on most imports. The sell-off is causing some Americans to rethink their financial investments, despite financial advisor recommendations to stay the course. Money flowed in and out just 0.10% of 401(k) balances overall last week, […]
Social Security isn’t always the easiest program to navigate because it’s constantly going through changes. Some changes are expected, such as cost-of-living adjustments, wage base limit adjustments, and retirement earnings test threshold changes. Other changes are unexpected and can happen seemingly at the drop of a dime based on legislative moves. And there has been […]
One of the more popular items on retirement surveys is the “magic number”: How much savings you need, on top of any Social Security benefits, to live out a comfortable retirement. Charles Schwab recently estimated the magic number at $1.8 million, based on a poll of retirement plan participants. A Schroders survey came in at $1.2 million. […]
For an overwhelming majority of retired workers, Social Security is more than just a monthly check. It represents a financial lifeline that they’d struggle to make do without. Since 2002, national pollster Gallup has surveyed retirees annually to determine how reliant they are on the Social Security income they receive. During this 23-year period, 80% […]
OKLAHOMA CITY (KFOR) – An Oklahoma City financial advisor says he believes Oklahomans looking at the impact stock market changes are having on their savings account will have nothing to worry about in the long term. The Dow Jones plummeted more than 2,200 points Friday after an already unprecedented drop of nearly 1,700 points the […]
It comes as no surprise that managing finances and money can be stressful. Like most types of stress, financial stress can impact your sleep, physical and emotional health, relationships, performance at work and family life. April is National Financial Capability Month, highlighting the importance of having a basic understanding of how to handle money matters […]
Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs. As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said […]
As U.S. markets continue to suffer steep declines in the wake of the Trump administration’s new tariff policies, you may be wondering what the next best move is when it comes to your retirement portfolio and other investments. Behavioral finance experts warn now is the worst time to make any drastic moves. “It is dangerous […]
Gen Z has had a tough go economically. Many graduated college when the U.S. was in the throes of the pandemic and unemployment was sky-high. They struggled to find work. Then Gen Zers were faced with a period of rampant inflation as the economy improved. While inflation has eased, the cost of living is still […]
Private equity firms are having trouble obtaining new capital from institutional investors, but Americans have $12 trillion in 401(k)s and similar retirement plans. Amid a strong lobbying push from the industry, however, skeptical academics like Jeffrey Hooke at Johns Hopkins argue returns from these funds’ risky and highly illiquid investments are often not all they’re […]
Young people’s pessimism about their longevity partly explains why they under-save for retirement, new research from Bayes Business School suggests. Conversely, very old people tend to be overly optimistic when making retirement saving decisions based on their longevity. However, the impact of these beliefs, the study concludes, is less than that suggested by earlier research. Factors such […]
April is here and with the arrival of a new month, millions of Americans are awaiting their Social Security payment. Not all households in the United States can receive these payments on the same days and this April 3, some beneficiaries will be able to collect their payment. What specific group will be able to […]
