Have you heard of a side hustle? This is a term that is thrown around to describe something that you do on the side to make some extra money. For the most part, you see a lot of young people looking to build extra income streams on the side. Maybe they have a few hours […]
It’s hard to imagine being paid to borrow money or penalized for saving. But the economic shock from Covid-19 may call for drastic measures. Up until this point, the Federal Reserve has never brought its benchmark rate into negative territory and, according to Federal Reserve Chairman Jerome Powell, the Fed is not considering going to […]
As companies look to cut costs amid the coronavirus pandemic, many of them have or will soon stop matching their employees’ 401(k) contributions. That can make it harder for you to stay on track with your savings. During the financial crisis of 2008-09, nearly 1 in 5 employers that offered a 401(k) plan match pulled […]
Americans are using historically low interest rates to refinance their loans as a form of personal stimulus during the pandemic. “Mortgage volume is at record levels, and has been for quite some time and continues to crest upwards in terms of demand,” Brendan Coughlin, head of consumer banking at Citizens Bank, told Yahoo Finance’s The […]
Amid the coronavirus pandemic, the stock market saw historic drops, leaving many older Americans worried about their retirement funds. While it’s likely that these accounts will begin to return to where they were as the economy expands again, a new app called Silvur is dedicated to helping baby boomers navigate retirement during these uncertain times, […]
With more than 30 million people out of work and a growing number of Americans feeling severely cash-strapped, loans are a lifeline. If you can get one. Despite rock-bottom interest rates, banks are tightening lending standards across the board, shrinking the availability of credit. “If you can get a loan, then the price of it […]
For most people, personal-finance mistakes affect only themselves. For entrepreneurs, a personal-finance slip-up can have far-reaching consequences. People who get into tight financial spots while running their businesses must make difficult choices about which bills to pay, which opportunities to let go and which partners to leave. Founders of startups are no strangers to running lean, […]
Some retirement strategies make sense at any age, but as workers near the finish line, there are specific tools and approaches that may pay dividends. “Establishing an emergency fund of three to six months of expenses is the foundation of a good financial plan,” says financial planner Curt Stoltzfus. “Getting out of debt before retirement […]
The pandemic may have pushed you to save money with all the uncertainty out there about making ends meet, but financial experts say it could also pose a risk to our economy’s recovery. Linda Kobler just got back to work at the Naples Soap Company, and though business is back in action, she said her […]
When it comes to planning your retirement, one single number matters more than any other: the length of time you need to plan for. If you knew exactly how long your retirement would last, planning would become substantially easier, and you would be able to eliminate a lot of potential risk of either over- or […]
Statistics related to retirement can be downright discouraging. About 45 percent of Americans say they worry every day or almost every day about saving enough money to retire, according to the Pew Research Center. Meanwhile, 28% of Americans in their 60s and 37 percent in their 50s have less than $50,000 in retirement savings, according […]
How can you retire with $1 million in assets? It’s easy… if you start with $3 million! All kidding aside, the best answer is to make a plan that achieves the savings necessary to get to $1 million. We can help you formulate that plan using the following seven tips. 1. Make Saving and Budgeting […]
