The money you get from Social Security won’t be enough to cover your retirement expenses entirely. Those benefits will only replace about 40% of your pre-retirement income if you earn an average wage, and most seniors need about twice that amount to cover their expenses without feeling squeezed financially. That’s why saving for your senior […]
THIS YEAR STARTED ON A positive note for most investors; 2019 provided stellar returns for almost all asset classes and at the start of the year, it appeared those gains would continue. But we all know what happened next. An extremely fast and deep bear market, widespread business closures and record unemployment damaged the economy. Yet in […]
EVERY ONCE IN A WHILE, it happens – you wind up with a small windfall of cash in your bank account that isn’t immediately earmarked for bills. For many people, that happened this year. As you know, a stimulus check – most of them being around $1,200, with possibly more if you have children – was sent from […]
Establishing a financial foothold has been anything but easy for millennials. Born between 1981 and 1996, the bulk of this age cohort was set to launch into adulthood right when the Great Recession hit 13 years ago, essentially pushing them back about 10 yards from the starting line. While the current financial fallout from the […]
If you’re a glass half full person, here’s some good news: About half of retirees are able to maintain their spending levels—in other words, their lifestyles—during their first five years of retirement. On the other hand, half aren’t. That’s according to a study by the federal government’s Consumer Financial Protection Bureau (CFPB), which looked at […]
Most of the top government officials you see on nightly TV — whether elected, appointed or regular civil servants — belong to the government’s in-house 401k plan. They may not be financial gurus, but they are trying to guide the nation through the current pandemic, keeping an eye on China and India’s face-off, monitoring the […]
Your 401(k) can be your ticket to a nice retirement, assuming you play your cards right. Your workplace-sponsored retirement plan streamlines long-term wealth creation, by way of automatic, tax-deductible contributions that get invested according to your preferences. If you did nothing but accept your 401(k)’s default contribution rate and investment choices, you would see your […]
Sometimes fathers know best. That’s why FOX Business spoke with several money experts to find out what financial advice their dads have given them that they still use today in honor of Father’s Day. Here are nine personal finance tips from real-life dads that have a proven track record of success, according to experts in the field. […]
Budgeting is an essential skill for anybody, but especially for entrepreneurs. When you’re juggling business expenses, it can be difficult to think critically about your personal expenses, as well. Before you know it, your budget has fallen by the wayside and you’ve spent $500 on pizza delivery in the past 30 days. Managing your personal […]
Legendary investor Warren Buffett said, “It’s better to buy a wonderful company at a fair price than a fair company at a wonderful price.” You can read that to mean Buffett isn’t buying cheap stocks, and you shouldn’t either. Low-priced stocks have their appeal, for sure. An ultra-low share price or P/E ratio inspires your […]
Preparing for retirement can be stressful and complicated for workers, but it’s a necessity. One way to make sure you’re as ready as you can be is to listen to the advice of current retirees regarding what’s important. To that end, recent research from Wells Fargo revealed those who have left the workforce largely agree […]
There are many types of retirement income generators (RIGs) that each produce different amounts of retirement income. My Retirement Income Scorecard compares the amounts of retirement income that are possible for 10 different RIGs, which is one consideration for choosing a RIG or combination of RIGs to build your retirement income portfolio. This post describes […]
