March is Women’s History Month, so I thought it might be a good time to focus on how women are doing when it comes to planning for retirement. In my business of working with many federal employees who are in various stages of planning, I find an increasing number of women who are the breadwinners […]
As the stock market sinks, you’ve probably already heard not to check your 401(k). Yet when it comes to steering your personal financial plan in a turbulent time, it’s still wise to take a proactive approach, according to Michael Liersch, a behavioral finance expert and global head of wealth planning and advice at JPMorgan Chase. […]
Seniors who are eligible for Social Security can claim benefits as early as age 62, or as late as age 70. In fact, 70 technically isn’t the cutoff for claiming benefits — you can file after age 70 if you so choose, but there’s no financial incentive to go that route. Meanwhile, eligibility for Medicare […]
Might millennials be saving too much for retirement? The question seems ludicrous, given the drumbeat of messages that all of us, but especially millennials, are saving too little for retirement. Yet the suggestion to the contrary appeared this past Sunday in no less distinguished a publication as the New York Times, in an article entitled […]
Many Americans aren’t prepared as they should be when it comes to saving for college. Working women are no exception. In a recent CNBC/SurveyMonkey Women at Work Survey, 7% of working women with children under 18 said they have at least $5,000 in a 529 College Savings Plan. Of those who make $100,000 or more […]
The actor Samuel L. Jackson didn’t get his big break in Hollywood until he was 43 years old. That’s an unconventional path for a movie star and a reminder that the road to success isn’t the same for everyone. Just as Jackson found his way to stardom, you can find your way to financial independence […]
Putting away $500,000 for retirement seems like a lot, but it may not be enough to sustain you during your golden years. That’s an eye-opener for sure, one that will become more common thanks to the Setting Every Community Up for Retirement Enhancement Act, otherwise known as the SECURE Act. Signed into law by President […]
Running out of money during retirement is a major concern. You can do your best to save a bundle in a 401(k) or IRA, only to misjudge your future expenses and wind up cash-strapped down the line. Here are a few reasons why you may be at risk of depleting your nest egg prematurely — and […]
Deciding how much to save for retirement can be complicated. One common technique to simplify things is to invest a percentage of your income. Traditionally, financial experts often recommended setting aside 10% of earnings for your later years, but thanks to lengthening life spans and lower projected returns, it’s usually better to aim for about […]
It’s easy to assume that those people who retire with $1 million or more in savings earn a lot of money during their careers or come from rich families. The reality, however, is that many retirement millionaires achieve that milestone not by commanding huge salaries or inheriting windfalls, but by making smart choices that enable […]
There are many financial pros and cons to getting married, but for those close to retirement who have been dating for a long time, there are several federal laws that provide some good financial reasons to give it some serious consideration. Inheriting IRAs: Marriage Makes a Big Difference If you are married, you can roll […]
Sixty-four percent of Americans are expected to retire with less than $10,000 in their retirement savings accounts. And in their 60s, 70s and beyond, as many as 539,000 will die of heart disease, somewhere around 550,000 will die of cancer and around 300,000 folks will die of diabetes (probably underreported) every year. Collectively, cardiovascular disease, […]
