For many workers, a traditional retirement is not part of their plans. Among baby boomers still in the workforce, 59% expect to keep working into retirement, a new study from Voya Financial shows. For Generation X, that share is 60% and for millennials, 49%. Overall, 54% of all workers say their retirement years will include […]
The pandemic lockdown has killed the work commute. And as the number of miles people travel every day has collapsed, commuters have saved themselves billions of dollars. In June, Americans traveled nearly 37 billion — yes, billion — fewer miles than in the same month last year, according to the Federal Highway Administration. Usually, the […]
However, leaving and ignoring your old 401(k) retirement assets is like putting money in a box under your bed and forgetting it’s there. You need to create a plan for that money and find ways to reinvest it. And in these uncertain times, when so many people are leaving or changing jobs, the question becomes more urgent: What should I do […]
For many Americans, their vision of retirement doesn’t include long days gardening, or sunning on the beach. Instead, it involves more work — either because of jobs they enjoy or, more commonly, financial need. Research from Allianz Life shows an estimated 65% of people think it’s likely they’ll work either part time or full time in retirement. […]
Retirement investing is a long-term play. Even if you’re late getting started with your retirement savings, your portfolio should be around for four decades or more. That extended timeline is one reason why ESG investing fits nicely into your retirement savings plan. ESG investing involves evaluating a company’s performance on environmental, social, and governance issues […]
Many things occupy your mind during a divorce. Understandably, taxes can likely fall to the bottom of the list. But there are critical tax considerations that should be evaluated, particularly when it comes to dividing qualified assets, such as 401(k)s, IRAs and annuities. Dividing 401(k)s and Pensions Dividing 401(k)s and pensions can seem quite complex […]
Are you owed money you don’t even know about? You might be, if your name is in an unclaimed property database. Each year, billions of dollars from forgotten security deposits, refunds, uncashed paychecks and even old bank accounts are reported to state agencies. And each year, according to the National Association of Unclaimed Property Administrators, […]
Retirement should be a reward for a lifetime of labor, but for far too many Americans, it’s a time of belt-tightening and financial worries because they leave work before making sure they’re financially prepared. To avoid this mistake, watch for these three key signs you’re not ready to retire yet. 1. You don’t have a […]
How much you should be saving for retirement is an age-old question that just about everybody wants to know. While the answer has a lot to do with when you plan to retire and the type of lifestyle you want to have in retirement, there are some general guidelines that you can follow at every […]
Many people estimate their retirement date well in advance and hope that somehow, things all work out. But what if your anticipated retirement date is next year — as in, the year following the nightmare that is 2020? Right now, the economy is stuck in a recession, and while the stock market has recovered from its […]
Warren Buffett is generally regarded as one of the greatest investors of all time. Investors who’ve shared his value-oriented philosophy have generally done well for themselves over time, in some cases even earning the title “Superinvestors.” Still, despite his incredible success as an investor, he follows some money management practices that are downright dangerous for […]
7 Surprising Ways Retirees Waste Their Savings Retirees usually have a limited amount of money to spend during their golden years. Unfortunately, some people make costly mistakes that can deplete their nest egg prematurely. From giving away cash indiscriminately to refusing to embrace lifestyle changes, here are some surprising ways retirees waste their hard-earned savings. […]
