Preparing for a financially secure retirement is more important than ever, especially with the coronavirus causing economic chaos. But a recent survey by the Employee Benefit Research Institute shows that the majority of current workers are missing key components in their planning. In fact, fewer than four in 10 workers have considered these three essential […]
The first round of stimulus checks was sent out to millions of Americans across the country, with $218.4 billion paid out so far in an effort to ease the financial strain caused by the coronavirus outbreak. Although these payments provide some relief, using the money wisely is crucial in creating more financial stability. According to […]
A year ago, pandemic personal finance was a topic only discussed by doomsday theorists. But times have changed, and now we’re all familiar with the economic, social, and financial ravages brought on by the global outbreak of COVID-19. And while we may not have much control over national and global trends, we can take charge […]
Cell phone bills form a large portion of one’s monthly budget. According to a study done by J.D. Power and Associates, the average family in the United States spent approximately $157 on their cell phone bill each month in 2017, or $1,884 throughout the year. That is a big chunk of change to spend, which […]
COVID-19 has affected the way Americans live, work, eat, shop, and earn money. It’s the latter that has a lot of people worried, what with unemployment levels reaching record highs and so many people struggling financially. The stock market has taken a beating as well since COVID-19 cases started popping up in droves, and while […]
When Democratic presidential candidates Bernie Sanders and Elizabeth Warren dropped out of the race, it seemed that proposals to tackle student loan debt would go away, too. They haven’t. Between the impact of the coronavirus pandemic and a growing sense that there’s something broken with how the U.S. finances higher education, plans to deliver relief […]
Ryan Scribner started his YouTube channel in 2016 by talking to a camera that he attached to the steering wheel of his car. Today, Scribner is a popular YouTube creator with 623,000 subscribers. He now treats his channel as a full-time job, sharing tips on the best investing apps and stock market advice with his […]
It’s a question on the minds of those in retirement or nearing retirement. How much of your nest egg can you spend each year without running out of money in retirement? In 1994, financial advisor William Bengen published a paper that answered this very question. His paper—Determining Withdrawal Rates Using Historical Data—was published in the […]
Facing devastating financial losses related to the coronavirus pandemic, colleges and universities are cutting costs just about everywhere they can. Increasingly, that includes faculty and staff retirement benefits. Duke, Georgetown, Northwestern and Texas Christian Universities are some of the institutions to announce cuts to retirement contributions in recent days. Some of these decisions have been […]
MORE THAN 36 MILLION Americans have filed for unemployment benefits since mid-March. While the government is providing a $600 per week boost to the benefits of eligible workers, that extra money only lasts until July 31. Plus, it may not be enough to bridge the gap for some workers. Even if unemployment benefits can cover […]
Let’s face it: The COVID-19 crisis has been raging for two months now, and while some states are taking steps to open up, the economy is still in terrible shape. Not only are unemployment levels at an all-time high, but Americans whose jobs have held steady are increasingly worried about getting laid off. As such, […]
As part of the House bill passed on Friday to deliver relief to a battered economy, people with student debt would get some more elbow room. The U.S. Department of Education has already announced that due to the pandemic, federal student loan borrowers don’t need to make payments on their loans until at least October. […]
