If you want to improve your financial know-how, there are plenty of opportunities to do so. From short online tutorials to extensive in-person bootcamps, the number of “Money 101” classes has ballooned since the Great Recession. And yet, when it comes to financial literacy, Americans are still falling far short. According to a survey by […]
Unless you’re lucky enough to have a full pension and benefits, most of us will need to work until at least age 66 to save enough money for a comfortable retirement. According to Forbes, 64 percent of all Americans will essentially retire broke. Local author and entrepreneur Rachel Richards said she believes setting yourself up […]
PRIOR TO THE PASSAGE OF the Tax Cuts and Jobs Act of 2017, some newly married couples received an unpleasant surprise at tax time. Spouses who earned similar amounts of money – especially those considered high earners – often found themselves subject to a marriage tax penalty. “The marriage tax penalty means that when you’re […]
You may be overlooking one retirement investment choice. That’s the ability to put away post-tax money through a Roth individual retirement account. Recent research from TD Ameritrade finds that many individuals are confused when it comes to Roth IRAs. And that means many people are leaving cash on the table when it comes to maximizing […]
Breaking up is hard to do. Still, breaking up with your bank can put money in your pocket. Most of us have sat across from a friend and said, “You can do better.” The truth is, if we look closely enough at our own lives, there are a number of things we could do better. […]
If you feel like you can’t get ahead in life, you’re not alone. According to data from the Bureau of Labor Statistics, making more money generally translates to spending more money. That’s called lifestyle creep, and it’s public enemy No. 1 with respect to retirement savings. Lifestyle creep, also known as lifestyle inflation, is the […]
The percentage of Americans whose families have trouble paying medical bills has generally declined in recent years, according to a recent government report, but a substantial number of people continue to struggle. The share of people in families with problems paying medical bills in the past year fell overall from 19.7% in 2011 to 14.2% […]
Hacking your finances — ordering water instead of cocktails, moving to a less expensive area or hoarding grocery coupons just to save a few bucks — has become a bit of an obsession among Americans, especially millennials, looking to get rich and retire early. Eating $0.69 ramen and skimping on $8 avocado toast isn’t a […]
Someone with a morbid sense of humor coined the phrase “There’s more than one way to skin a cat.” While the adage may or may not be true in the literal sense — I have no experience in cat-skinning — the underlying message definitely applies to retirement savings. You may have heard 1,000 times that […]
Social Security does a good job of helping millions of seniors stay afloat financially. But let’s be clear: You can’t live on those benefits alone. These days, the typical senior on Social Security receives just over $18,000 in annual income. That may be enough to provide for a nice lifestyle when there’s other money on […]
The 2020 presidential campaign is now in full stride, as early primary and caucus results have already started to thin the field. Yet in many ways, former New York City mayor Mike Bloomberg is just getting started with his campaign, having joined the race relatively late. For tens of millions of older Americans, no issue […]
If you’re like many Americans, you’re carrying a balance on your credit cards. And the candidate you choose in November for president could have an effect on how well you grapple with those debts. The latest numbers from the Federal Reserve show that credit card balances climbed to $930 billion in the fourth quarter of […]
