Putting money in your 401(k) helps you be more prepared for retirement, but how far that money goes in the future depends in part upon the choices you make now. The amount you contribute matters, but so does what you invest in and your plan’s rules. Here are a few key strategies that can help […]
You might want to hold off on that Winnebago. The 4% Rule has long been used as a guideline for retirees in determining how much they should be able to withdraw from their retirement account while still maintaining a balance that will allow for the same income stream to flow through their golden years. But […]
he coronavirus pandemic continues to disrupt the U.S. economy as businesses both big and small cut back, close and declare bankruptcy. Consequently, a reported 16.3 million Americans were unemployed in July compared to just over 6 million the previous year, according to the Bureau of Labor Statistics. In addition to losing their paychecks, many Americans […]
Warren Buffett, the investing legend, is turning 90 on Aug. 30. He’s achieved his fame through his phenomenal success with his company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), and his outstanding generosity. Have any doubts? Then consider this: If you had invested $1,000 in Berkshire’s Class A shares in 1964, it would have been up 2,744,062% by 2019 […]
The Department of Labor recently issued guidance providing a road map for employers to add certain retirement savings funds into their investment lineup that invest in private equity. For those saving for retirement, this is a promising step in the right direction for expanding investment opportunities. While this guidance does not necessarily enable a new […]
There are plenty of reasons to refinance your home — better rates, lower monthly payments, and getting rid of private mortgage insurance are just a few of them. But there are times when refinancing isn’t the best financial decision. Darrin English, Senior Community Development Loan Officer at Quontic Bank, spoke with Business Insider about what […]
Saving for retirement is a monumental task, requiring several decades of diligent effort. Some people hope to circumvent that by playing the lottery or trying to bet on the right investments, but these get-rich-quick schemes rarely pan out. That doesn’t mean there aren’t secrets to growing your wealth, though. Below, I outline three tricks to […]
If you’ve ever read anything about investing, you probably know how important diversification is. Diversifying your portfolio means you spread your money around so you don’t put all your eggs in one basket. It allows you to avoid catastrophic outcomes if one or two investments perform poorly, and it maximizes the chances your portfolio will […]
The stock market had a great run in the 2010s, but 2020 has already reminded us that crashes do happen — and that they’re pretty unpleasant. A sudden 30% drop in the value of your long-term savings can reverse years of contributions and investment growth, putting your retirement timeline on hold indefinitely as you wait […]
As an immigrant who moved alone to the U.S. from Jamaica at age 17, Jordanne Wells didn’t know much about managing finances in her 20s. She graduated from college with eight credit cards, and eventually found herself $30,000 deep in credit card debt. While Wells had a steady income at the time and was already […]
Legendary investor and billionaire Warren Buffett has a tip for young people: Focus on learning how to write and speak clearly. “The one easy way to become worth 50 percent more than you are now — at least — is to hone your communication skills — both written and verbal,” says Buffett in a video […]
Some of the largest issuers of travel rewards cards are adding benefits to accommodate cardholders who have put travel plans on hold because of the coronavirus pandemic. Rewards card providers “have really leaned in to where people are spending these days,” said Ted Rossman, industry analyst at CreditCards.com. The coronavirus crisis has compelled many Americans […]
