There isn’t much to like about high-deductible health insurance plans. If you have one, you may already be spending thousands of dollars out-of-pocket on healthcare each year. Before meeting the deductible, it can be tough to afford the basics. Unfortunately, these plans have become the go-to choice for many larger companies—and this costly trend is […]
Warren Buffett is well known for his investing prowess — the Oracle of Omaha has made billions due to his smart stock purchases. With his reputation as one of the world’s best investors, it’s not surprising many people watch his purchases and recommendations carefully to inform their own stock-buying habits. Of course, even Buffett isn’t […]
Several studies in recent years confirm that most U.S. workers haven’t saved enough for retirement. TD Ameritrade’s 2020 Road to Retirement report indicates that only 8% of savers between the ages of 50 and 59 have $1 million saved. A much larger percentage in that same age group, 37% to be exact, have saved less […]
Can someone working out of their houses because of the pandemic deduct the expense of the home office? In the past, employees who were required to work remotely could deduct the cost of their home office. Unfortunately, that’s no longer the case. The 2017 tax law eliminated a provision in the tax code that allowed […]
You’ve heard the whispers and warnings of a possible stock market bubble, and you’re spooked. You just survived a big drop in your portfolio’s value back in March, and you’re not ready to go through it again. Is it time to cut your losses and get out, ahead of another crash? A stock market bubble […]
Should you retire at age 65? 70? Sometime during your 50s? There’s no easy way to answer that question, as there are benefits and drawbacks to leaving the workforce earlier versus later in life. But one thing you should do is spend some time thinking about when you’d like to retire, and these are a few important […]
Congratulations! You have a job that offers you a 401(k) account. Clearly, you should participate, to enjoy some tax savings as you save for retirement. But don’t just leave it all up to chance, letting your employer sign you up for default-level contributions to default investments. Here are three smart strategies to help you make […]
Millions of seniors depend heavily on Social Security to pay the bills, but a large chunk of today’s workers worry that those benefits won’t be there for them by the time they’re set to retire. They’re not totally wrong. Though Social Security is not in danger of going away completely, the program may have to […]
You’ve heard the whispers and warnings of a possible stock market bubble, and you’re spooked. You just survived a big drop in your portfolio’s value back in March, and you’re not ready to go through it again. Is it time to cut your losses and get out, ahead of another crash? A stock market bubble […]
If you want to make your retirement savings last even longer, it could be worth moving to a state that won’t tax your retirement distributions. There are 12 states that won’t tax your distributions from 401(k) plans, IRAs or pensions, according to a recent report from AARP. Of those states, nine — Alaska, Florida, Nevada, […]
The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero for as long as it takes until the economy starts to recover from the coronavirus crisis. In addition to holding rates near rock bottom, the central bank also said it will extend its lending and credit initiatives until at least the […]
As our country wrestles with new coronavirus outbreaks, the economy continues its downward slump. This week’s announcement from the Federal Reserve was bad news for savers—who may already be antsy about low interest rates and where to stash their cash, according to a new Bloomberg report. While millions of Americans have suffered from job loss, […]
