Climate change. Wars. Overworking. Unnecessary meetings. And just flat out being broke. These are some of the reasons why millennials aren’t planning for much of a retirement. Twitter TWTR, +1.12% erupted with suggestions as to how this young generation could spend their old age, using the hashtag #millennialretirementplans, on Tuesday morning. More of the tweets […]
You know you need to put money away for retirement. But how much do you really need to save? It’s a question that confounds many individuals. And not knowing can contribute to one big fear: that they will run out of money in their later years. A new tool aims to help you understand just […]
There are only three numbers that factor into your ability to retire early, and none of them is your salary. That’s according to Rob Berger, a deputy editor at Forbes and the author of the new book “Retire Before Mom and Dad.” He says income has a minimal influence on how quickly we’re able to […]
Your golden years may be some of the best years of your life, but they can also be some of the most expensive. Multiple factors contribute to the rising costs of retirement. Healthcare expenses, for example, continue to increase, and the average American in their 40s now can expect to spend roughly $335,000 on healthcare […]
There are a lot of rules surrounding retirement saving telling you what you are and aren’t supposed to do with your money. Do start saving early, don’t rely too much on Social Security, do contribute as much as you can to your 401(k), etc. There’s one “don’t,” though, that is less obvious but just as […]
Nearly everyone wants to save more for retirement, especially because so many people are falling behind on their savings. The average 401(k) balance among U.S. adults is roughly $92,000, according to a report from Vanguard, yet that number is skewed by those with especially high balances. A more accurate picture of the typical American’s savings […]
Where are you going to find meaningful income to get you through retirement? Not from popular stocks, with the S&P paying less than 2%. And bonds won’t help either, as their yields are in the tank, too. Instead let’s consider real estate investment trusts (REITs), which are tailor-made for investors who are at or nearing […]
Pay yourself first Rather than treating savings as an afterthought, set up a standing order into a separate account as soon as you get paid, says Anna Bowes, the co-founder of Savings Champion. “That way it can become just another bill, but one that you will benefit from in the future.” Jasmine Birtles, the founder […]
When John Sullivan’s aging mother needed to move, it was a challenging experience. Sullivan’s mother had macular degeneration and couldn’t drive anymore. Consequently, he and his brother looked for senior living communities. But they had many questions, many of which they didn’t know the answer to. Adding to those difficulties, they were trying to sell […]
Many people casually throw around the terms Roth IRA and traditional IRA, but there are significant differences, with pros and cons to each. This article explains the value of a Roth IRA as a savings instrument. Roth IRAs, like traditional IRAs, can accumulate money faster than a comparable taxable investment, providing more money to live […]
Breaking up can be hard to do if the other party doesn’t want to let you go. People who move out of high-tax states may learn this the hard way — through a residency audit. States such as New York, California and Illinois use the audits to claim that your recent interstate move was just […]
Generally speaking, the higher your credit score, the better off you are when seeking a loan. But the recovery time from a missed payment or financial setback of any kind differs for everyone. As many consumers know, your credit score plays a big role in daily life. It can determine the interest rate you’ll pay […]
