Holiday marketers have your number, and they know how to entice you to spend. You try to rein it in. But two favorite strategies can lead to spending more, according to a 2018 survey by the Center for the New Middle Class, a research organization funded by Elevate, which lends to credit-challenged borrowers. Consumers who […]
It is important to understand from the very outset how changing risks are primarily what separate retirement income planning from traditional wealth management. Retirees have less capacity for risk, as they become more vulnerable to a reduced standard of living when risks manifest. Those entering retirement are crossing the threshold into an entirely foreign way […]
You work hard for your money throughout your career. In retirement, your money needs to work just as hard for you as you’ve worked for it, to cover your costs once you’re no longer collecting a paycheck. It’s a challenge to get to that point, but once you do, the freedom that comes from financial […]
The FIRE movement, short for “financial independence, retire early,” might seem unattainable for some people — but Kiersten and Julien Saunders want to show everyone it isn’t. For the couple, who blog at “rich & Regular,” and many like them, the journey to financial independence started in debt. But in the last eight years, they’ve […]
Stashing money away in your 401(k) for years on end, sadly, does not guarantee a fruitful retirement. Just look at the numbers. Fidelity reports that the average 401(k) balance in 2018 was $102,900 . That’s just a fraction of what you’d need to live comfortably for decades without a paycheck. To put things in perspective, […]
According to a recent survey by the National Association for Business Economics, seven out of 10 economists expect a recession by the end of 2021. Even the savviest investors worry about not having enough cash on hand to cover basic expenses during a recession — let alone those who have their entire nest egg wrapped up in […]
One of the biggest concerns Americans face nearing retirement: Will I run out of money? That’s why some people consider buying tax-deferred annuities — contracts where you plunk down a big chunk of money and an insurer guarantees to pay you back a set amount of money for life. But, as the new Friends Talk […]
Search the internet, and you’ll see that there’s a ton of retirement advice out there. Some of it’s good, some, less so. But one thing you definitely don’t want to do is buy into some of the common misconceptions that tend to circulate with regard to retirement. If you make the mistake of believing the […]
You work hard for your money throughout your career. In retirement, your money needs to work just as hard for you as you’ve worked for it, to cover your costs once you’re no longer collecting a paycheck. It’s a challenge to get to that point, but once you do, the freedom that comes from financial […]
Saving for retirement is crucial. Without independent savings, you risk struggling financially during your golden years. And when you think about the expenses you’ll face when you’re older, it’s easy to see why. Even if you manage to pay off your mortgage in time for retirement, you’ll still need to cover other homeownership costs like […]
Kristy Shen and Bryce Leung have been traveling around the world since they retired in 2015. The millennial couple, from Toronto, initially wanted to take just one year to travel, but it’s been four years and they haven’t stopped yet. “After a year ended, we realized that traveling around the world costs about the same […]
If you want to risk starting some arguments around the dinner table this holiday season, be sure to bring up religion and politics. No, wait — make that sex and personal finance. Sex and personal finance/money ranked first and second among five “taboo” topics for discussion in a TD Ameritrade survey this year. They beat […]
