Investor money ensnared in alleged Ponzi schemes has hit its highest level in a decade, leading to concern that a booming stock market and de-regulatory agenda are pushing more fraudsters to bilk unsuspecting investors. State and federal authorities uncovered 60 alleged Ponzi schemes last year with a total of $3.25 billion in investor funds — […]
What’s more stressful than the first conversation you ever have with your significant other about money? The moment when you realize it’s just not working out. You weren’t married, but you might as well been. You shared rent, utilities, maybe a bank account. If you didn’t live together, you shared a family phone plan, or […]
Most workers have an age in mind for when they would be willing to call it quits. But the traditional retirement age — 65 — could be changing. Research by Transamerica Center for Retirement Studies and the Aegon Center for Longevity and Retirement looked at what age workers around the world expect to retire from all-paid […]
Her day job is working on staff pensions, but Karen Ward admits she became a little bit complacent about her own retirement plans. The 58-year-old, who has worked at insurer Aviva for 39 years, said she needed a more open mind about what to do in later life. “I didn’t think about my own [pension]. […]
As student debt continues to climb, President Donald Trump on Monday released a budget for 2021 that would slash many of the programs aimed at helping borrowers. Student loan spending would be cut by $170 billion in Trump’s plan, titled “A Budget for America’s Future.” The reductions include “sensible annual and lifetime loan limits” for […]
Health care continues to get exponentially more expensive as medical therapies advance and people live longer. According to a report by HealthView Services, total lifetime health care costs for a healthy 65-year-old couple retiring this year are projected to be $387,644 in today’s dollars ($572,960 in future dollars). This includes premiums for Medicare Parts B […]
For many workers, retirement can’t come soon enough. You may be yearning for the day you can stop setting the alarm clock and start spending your time however you please, and early retirement may sound like a dream come true. But that dream can quickly turn into a nightmare if you’re not prepared because there’s […]
The procrastination struggle is real. We put off cleaning the toilet, getting the oil changed in the car, and organizing our financial documents. But perhaps the biggest thing we wait on is saving for retirement. According to Fidelity’s 2020 Retirement Savings Assessment, 46% of working American households are at risk of not being able to […]
Saving for retirement is one of the most important things you can do with your money. Unfortunately, most Americans don’t think they’re doing it very well. In fact, according to a recent TD Ameritrade study, the majority of Americans would give themselves a grade of C or lower on their retirement savings. Sadly, the number […]
Taxes are an unpleasant — but essential — part of life. And unfortunately, you won’t be able to escape them even in retirement. Not only could you be faced with income taxes if your savings are stashed in a 401(k) or traditional IRA, but you may also have to pay taxes on your Social Security […]
When you’ve spent the majority of your adult life working, you may be eager to retire as soon as possible. Maybe you have a long bucket list of activities you can’t wait to enjoy, or perhaps you’re just ready to sit back and enjoy a life of leisure. Regardless of how you choose to spend […]
Preparing for retirement is hard, and for most Americans, the money they get from Social Security will be critically necessary to help them make ends meet. The typical retired worker has to get by on just over $1,500 a month from Social Security, and while that’s better than nothing, it still leaves most people needing […]
