Saving for retirement should be on everyone’s financial to-do list. Unfortunately, for many people, it’s hard to get started. It can be difficult to know what goals to set for yourself, and it may seem overwhelming to figure out how to invest your money in a way that balances risk and returns. While you may […]
As you shake off those winter doldrums, put away the snow boots and prepare to deep clean the house, you can add a new technique: spring cleaning your financial house. It’s so easy for us to put our financial lives on autopilot and fail to evaluate the ways we’re spending and the products we’re using. […]
Owning a home is an important life goal for many Americans. Yet buying a home is not always the best financial decision for everyone. In some life situations, renting is a more prudent choice. If you or your loved ones are contemplating the buy-or-rent decision, consider these questions to inform your next move. 1. How […]
If you’ve never heard of IRMAA, you’ll want to know all about it before you retire. It’s the Medicare income-related monthly adjustment amount, or the extra premium for Part B and Part D that higher-income beneficiaries pay for Medicare coverage. In some cases, even a tiny increase in your income can put you in a […]
A bad stock market is unsettling for any investor. For retirees and near-retirees, though, bad markets can be dangerous. Stock market losses early in retirement can significantly increase your chances of running short of money. But there are ways to mitigate the risk. Financial planners say the following actions can help make your money last. […]
About half of U.S. workers plan to use personal savings as their primary source of income during retirement. A 2019 study by the Transamerica Center for Retirement Studies and the Aegon Center for Longevity and Retirement found that 48% of workers expect most of their retirement money to come from accounts like 401(k)s, 403(b)s, and […]
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 […]
