Social Security isn’t designed to sustain retirees without other income. Those benefits pay the average senior around $1,500 a month, or $18,000 a year, and for many older Americans, that’s not enough income. It’s for this reason that workers today are encouraged to save independently for retirement, and when we think about doing that, we […]
Prepare for some serious trading FOMO, courtesy of Reddit’s “WallStreetBets” community. If his detailed story is to be believed, the user, who identifies as “Mori226” on the popular social-media platform, has had a spectacular run during the coronavirus pandemic, and he walked his fellow traders on Reddit through every step of his journey. “I cracked […]
It’s important to establish goals, whether they be career-related, personal, or financial. But many Americans struggle with defining their goals, especially when it comes to their money. For example, do you know how much money you should have saved up? It can be difficult to conjure up an answer — especially given that there are many […]
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 […]
Mortgage rates are at historic lows, so it could be a good time to buy a home. But you may be wondering whether there is a downside to low rates. In short — nope, there’s no catch. A low APR can save you thousands over the life of your loan. Granted, you’ll pay fees when […]
As a retiree, your main financial goal should be to generate enough income through sources like Social Security, savings, and investments to keep up with your living expenses — preferably without eating too heavily into your assets. (Hence, for example, the popularity of strategies like the 4% Rule.) In fact, having a portfolio of assets […]
You’ve had it planned for decades: 2020 was supposed to be the year you left the workforce for good to embark upon whatever adventures you anticipated in retirement. And then, 2020 arrived, bringing one jarring event after another. The pandemic shut down our country and brought about a market downturn it could take years to […]
With coronavirus cases spiking across the country and the U.S. officially in a recession, it’s more important now than ever to make sure you have health insurance to protect yourself and your loved ones. Unfortunately, with millions of Americans left unemployed due to COVID-19-related closures and with many others struggling financially, far too many people […]
For those who have been enthusiastic about the stock market, eagerly awaiting the arrival of their monthly statements to see how much their investments have grown, the past few months have been an epiphany of sorts. Yes, markets can be unpredictable. Yes, what goes up can temporarily come down. While the effect of the coronavirus […]
Most older working Americans face serious retirement planning challenges: To generate enough money to afford retirement, they’ll either need to work beyond age 65, reduce their standard of living, or do some combination of the two. These are tough challenges, and most people will need help. And that’s where Rover comes in! Here are five […]
Uncertainty in the job market and the stock market has many older workers contemplating retirement. If that includes you, 9&10 News is the place to turn every weekend. You can get tips and tricks to help you plan for retirement every Sunday morning at 11:30 on Retiring Well. This week, they’re talking about how to […]
The beauty of high-yield savings accounts is that you don’t have to put down a lot of moneyto see your savings grow. Thanks to compound interest, you can start off small, and, after making incremental deposits each week, your balance will balloon over time. Our favorite high-yield savings accounts require low (or no) minimum balances to […]
