I hate to break it to you, but worrying about your finances doesn’t stop once you leave the workforce. In fact, for a lot of people, financial worry ramps up as they find themselves facing decades of living on a fixed income. But you can reduce yours by planning your retirement carefully right now. Here […]
Forget 401(k)s, IRAs and everything you think you know about retirement accounts. The best place to stash your savings isn’t a retirement account at all — it’s your health savings account (HSA). If you don’t have one of these, or you don’t even know what they are, you definitely want to read this. Below, I’ll […]
We all know the advice on retirement planning. The younger you start, the easier it will be, and the less you’ll have to save. Not everyone, however, is able to get that early start. Ironically, the most common retirement savings account, the 401(k) plan, is not delivering adequate savings, according to the Economic Policy Institute. Americans […]
More and more retirees are choosing to work longer, with roughly one-third of baby boomers saying they expect to continue working until at least age 70, according to a report from the Insured Retirement Institute. But continuing to work well into your senior years may not be appealing to everyone, and when you’ve been working […]
It’s fairly easy to be befuddled by Medicare. With different coverage options, confusing enrollment deadlines and disparate cost-sharing among beneficiaries, ending up with faulty assumptions isn’t hard. However, some mistaken beliefs can be more costly than others. A survey of 1,000 Medicare beneficiaries explored their knowledge and found several misconceptions — related to enrollment and […]
Despite the coronavirus pandemic’s destructive effects on the U.S. economy, millions of Americans have recently added money to their savings — and now they’re looking for more ways to boost their savings account in case of any emergencies. According to a survey from MassMutual, more than 1 in 5 Americans (22%) saved at least $1,000 this past […]
Personal-finance company Credit Karma said on Tuesday it would launch a checking account to U.S. members this year, making it the latest fintech to join the crowded digital banking market. Credit Karma Money Checking will initially be available only to those members who hold a savings account with Credit Karma, the San Francisco-based company said. […]
The 4% rule answers a question every retirement investor asks at some point: How much can I afford to withdraw each year from my savings, so that I don’t run out of money? While it’s great for planning to have an easy answer, there’s one big problem: The 4% rule may need to retire before […]
KIDS AREN’T CHEAP. That’s the consensus among both the government and parents, but exactly how much they cost is up for debate. The U.S. Department of Agriculture used to publish an annual report that calculated the average cost of raising a child to adulthood, not including college expenses. It was last published in 2017 and […]
College students have a range of expenses when it comes to attending school. Finding ways to save money in any area can really make a difference in one’s budget. A budget of students usually consists of tuition, books and accessories. Food and entertainments are often areas where people spend the most according to student Mahogany […]
Once you hit your 60s, it’s time to figure out when you want to retire — and whether or not you can make it happen. By the age of 67, which is when people born in 1960 or later can fully retire on Social Security, you should have 10 times your final salary saved, according […]
All of us have a history with money. We grow up with too little or too much — or fall under the sway of parents or others who influence our attitude about saving and spending. As we age, money often becomes an indicator of our emotional well-being. It’s fine to think about money frequently, enjoying […]
