The coronavirus pandemic has wreaked havoc on the economy, and it’s forced some older adults to rethink their retirement plans. Mass layoffs slammed older workers, with nearly 4.5 million workers age 55 and older facing unemployment in May, according to the U.S. Bureau of Labor Statistics. The stock market also tanked earlier this year, leaving […]
Your 401(k) retirement plan is all about investing in your future. That means a few different things as far as choosing the mutual funds in which to invest. First, you want to consider your time horizon. If you have a long horizon, that means that you have years to weather the market’s ups and downs. […]
While stocks can supercharge a portfolio, getting income out of an all-stock portfolio is difficult. Withdrawing at the wrong time can cause an investor to sell at a significant loss, hurting long-term returns. Then there is the tax issue: With long-term capital gains taxes of up to 20%, many retirees will find themselves being squeezed […]
Having an “overfunded” retirement isn’t a bad problem to have, but it does raise the question: what are your goals for your finances, the present and your future, and are you meeting them? A big pile of money is great, but it’s even better when you get to use it the way you want. There […]
This has been a challenging year in so many respects for the American public. The COVID-19 pandemic has completely changed the way we interact with one another, and it’s displaced more than 20 million workers. If you’re an investor, you were also taken on a wild ride, with the stock market packing about 10 years’ […]
Emergency savings come in handy for all sorts of disruptions in life. Putting money in a high-yield savings account can help you pay for unexpected expenses, such as medical bills, or weather unexpected events like losing your job. But just how much you should have stowed away in an emergency fund can vary depending on who you ask. While […]
No, I’m not a middle-aged ogre delighting in the social setbacks of the young. I’m a fan of the young people out there who are learning to turn down things they cannot afford, like the friend who says no to a night out for dinner and drinks with their buddies. These young people are making […]
Personal loans are borrowed money that can be used for large purchases, debt consolidation, emergency expenses and much more. These loans are paid back in monthly installments over the course of typically two to six years, but it can take longer depending on your circumstances and how diligent you are with making payments. Although it […]
Existing health and retirement benefits are a significant incentive for employees to take or keep a job in the federal government, according to the latest survey results from the Office of Personnel Management. About 70% of those who took OPM’s 2019 benefits survey said the ability to receive insurance through the Federal Employee Health Benefits […]
If you’re a young adult just starting out on your own, lots of things are shouting for your attention, from a new job to confusing money concepts. For instance, why should you save for something 40-plus years away? More than a quarter of Gen Zers think investing for retirement isn’t important, according to the personal […]
You’ve got a workplace retirement plan. Fabulous! But there’s plenty your employer likely isn’t telling you — or doing for you —that’s costing you money. Here’s how your employer might be letting you down: We probably set you up to leave money on the table. Most workplace plans offer an employer-matching contribution, based on some sort […]
The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates continue to drop. Mortgage applications to purchase a home fell for the second straight week, down 1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Purchase volume was still 15% […]
