If you’re a Vanguard investor who is hoping to file your taxes early, you may be disappointed. Clients at The Vanguard Group who switched from the firm’s mutual fund platform to its brokerage account in 2019 will receive two sets of tax forms for that year, the company confirmed. These Form 1099s will arrive in […]
Most Americans want to retire by 67, a 2020 TD Ameritrade report finds. But are they on track? The report, which surveyed 2,000 U.S. adults ages 40-79 with at least $25,000 in investable assets, finds many Americans may have a ways to go, even those approaching their golden years. Nearly two-thirds of 40-somethings have less than […]
At what age do you hope to retire? If you’re like the majority of workers, you’re probably planning to stop punching the clock by the time you turn 65. A survey by the Employee Benefit Research Institute (EBRI) found that 54% of respondents said they expect to retire at age 65 or younger. However, a […]
When you’ve spent most of your adult life working and saving for the future, you want your money to last as long as possible in retirement. Part of that comes down to developing healthy spending habits so you don’t blow through your savings too quickly, but another important factor is where you choose to call […]
Nobody wants to retire broke, but it’s an unfortunate reality many Americans will face. Today’s workers face a unique struggle in that the majority of their retirement income will need to come from their personal savings. Previous generations were able to receive the bulk of their income from pensions and Social Security benefits. Today, though, […]
Are you in the “retirement bubble”? The retirement bubble are the few years leading up to retirement and the first few years in retirement when your retirement nest egg is most vulnerable to market shocks. Why? It is because of sequence of investment returns risk. Sequence of investment returns is most dangerous when you are withdrawing […]
Many of us would be in trouble if we had to foot the bill for an unplanned expense. Bankrate’s January Financial Security Index survey reveals that just four in 10 U.S. adults (41 percent) would cover the cost of a $1,000 car repair or emergency room visit using savings. The findings echo what previous Bankrate studies […]
If you’re behind on saving for retirement, moving to a cheaper state is one way to stretch your nest egg as far as it can go. Your retirement dollars will last the longest in Mississippi, according to a recent study by personal finance site GOBankingRates. There, you can expect to live off $100,000 for 946 […]
Social Security provides an incentive to workers who choose to hold off on taking their retirement benefits. You can claim your Social Security as early as age 62, but if you do, you’ll have to accept smaller monthly checks than you’d get if you waited until your full retirement age. Conversely, if you wait beyond […]
Every parent knows that kids cost a lot of money, for everything from food, clothing and shelter to child care, education and health care. They’re right: studies show that a two-parent family with two kids devotes between 31% and 47% of total household spending to its children. And at the same time that parents are […]
When it comes to retirement, there seems to be no middle ground. Younger generations, studies have shown, are behind in wealth accumulation compared to previous generations and have paltry retirement savings. It’s made some realize they may never be able to afford to retire, experts say. On the other hand, others have saved enough to […]
Student debt is consuming an ever larger share of household budgets. Today, more than two-thirds of college graduates have student debt, compared with less than 50% in the early 1990s. And, back then, the average balance was $9,000 – now it’s $30,000. The typical monthly bill is nearly $400. Americans are more burdened by student […]
