You may want to brush up on your knowledge of the ins and outs of Social Security before you claim benefits. MassMutual posed 12 questions to 1,500 Americans approaching retirement via an online poll. More than half — 52% — either failed or barely passed. Of those respondents, 33% failed and 19% got a D. […]
Many people dream of early retirement, but achieving that goal is easier said than done. If you’re eager to leave the workforce well ahead of schedule, you’ll need to do the following. 1. Live below your means To retire early, you’ll need to do a good job of building savings. And the best way to ensure […]
To prepare for a loss of income or a large, unexpected expense, the standard advice is to set aside at least three to six months’ worth of living expenses. But only 41% of U.S. adults have stashed away enough to cover just a $1,000 emergency, according to a recent Bankrate survey. Instead of tapping savings, […]
Chances are you’ve received a credit card offer in the mail boasting a 0% APR and considered applying. The thought of no interest for a period of time is enticing, particularly if you want to finance large purchases or debt payoff. But the terms vary by credit card and you may not be aware of […]
Everyone who works for the government should know how to calculate a basic Civil Service Retirement System or Federal Employees Retirement Benefit estimate. The formula can be found on the Office of Personnel Management website. It requires only two pieces of data that most federal employees can estimate with a reasonable level of accuracy: high-three average salary and length […]
If you’re planning to make a big purchase or consolidate high-interest debt, a personal loan or a home equity loan could be an excellent way to obtain the funding you need. Depending on which option you choose, though, you may get different requirements, repayment terms, interest rates and more. Here’s what to consider to make the right choice for […]
On Wednesday, Ramit Sethi, personal finance coach and best-selling author of “I Will Teach You to be Rich,” took over the CNBC Make It Instagram page to answer reader questions and offer financial advice. During the live Q&A session, Sethi fielded questions from CNBC Make It Instagram followers on everything from how to earn more […]
A 401(k) is one of the best ways to save for retirement, but there’s more than one type of employer-sponsored retirement account and knowing the differences can give you more options in the long run. One of the biggest perks of contributing to a traditional 401(k) is that doing so can save you money on […]
More than a decade ago, the markets were sent into a tailspin during the financial crisis of 2008-2009. But it turns out investors who left their retirement nest eggs alone fared best. That’s according to research from J.P. Morgan, which used the firm’s own data combined with research from the Investment Company Institute. In fact, […]
According to the TransAmerica Center for Retirement Studies, most workers are woefully unprepared for retirement. Higher earners, however, have far more money saved than those with lower incomes. In fact, the median savings for workers with an annual household income of $100,000 or more is $222,000, compared with $3,000 for workers earning under $50,000. While […]
What to do with a $1,200 “check” from Uncle Sam? Why, invest it, of course. Stimulus checks have been tried before. The idea is, during times of economic stress, money placed in the pocket of the consumer will spark demand as money is recirculated into the economy. Dolly Levi, the matchmaker in Hello, Dolly! expressed […]
When you’re saving for retirement, the ultimate goal is to squirrel away enough to last the rest of your life. However, that’s much easier said than done. The median amount baby boomers have saved for retirement is just $152,000, according to a report from the Transamerica Center for Retirement Studies. Yet a separate survey from […]
