The idea of leaving the workforce for good can be daunting to men and women alike. But new data from Transamerica reveals that the overwhelming majority of women sorely lack confidence in what the future holds for them. In fact, only 12% of women are very confident that they’ll manage to retire and maintain a comfortable lifestyle. […]
It’s not just saving for retirement you need to worry about, but drawing down your money at the right time, too. The IRS requires savers to make withdrawals from their retirement accounts starting at age 70½. “They’ve allowed you to defer taxes, but they need to come collecting at some point,” said Arielle O’Shea, a […]
Feeling a little guilty about how much you’ve saved (or haven’t saved) for retirement? Maybe you’ve actually withdrawn money from your retirement accounts well before your golden years. Well, you’re far from the only one who’s made this move. According to a new survey from Bankrate, 49% of people with retirement accounts have withdrawn money […]
When saving for retirement, $1 million may seem like a good target. After all, being a millionaire is traditionally associated with being wealthy. In reality, $1 million really won’t go as far as you think it will – especially accounting for inflation. Rather than setting $1 million as a target, it’s far better to consider the […]
Are you single and managing your finances on your own? CNBC Make It would like to talk to you. Please fill out this short survey if you’re interested in being interviewed for a future story. To have enough money in retirement, experts typically recommend building up at least $1 million in savings. But if you wait to start […]
Americans are hungry for personal loans that they can use as quick cash to pay for anything from vacations to credit card debt, a potential red flag for the economy. Personal loans are up more than 10 percent from a year ago, according to data from Equifax, a rapid pace of growth that has not […]
Despite the partisan noise swirling around the impeachment hearings in Washington, D.C., supporters of at least one bill remain hopeful that the divide won’t derail its passage. The Secure Act, as the measure is called, aims to increase the ranks of retirement savers and the amount they put away. While it cleared the House in […]
Young people are saving more than previous generations, according to a study, flipping the historical trend that saw older savers put the most money aside towards retirement. This was the stunning finding of a global survey of more than 25,000 investors across 32 countries, by asset manager Schroders. The study revealed those aged between 18 […]
There comes a point when socking away more money in the bank doesn’t make sense. We all need money on hand for unforeseen expenses — things like automobile malfunctions, home repairs, or unexpected medical bills. In fact, your primary financial goal should be to build an emergency fund with enough cash to cover three to […]
In brightly colored ads on London’s Tube, investment company Wealthify tries to grab the attention of aspiring savers not by highlighting potential returns or its low barrier to entry. It proffers instead a more unusual pitch to catch commuters’ eyes. “Want to invest ethically?” one ad reads. “Stay true to your values.” The advertising campaign […]
Many Americans are in debt and live paycheck to paycheck. The basic living expenses are trending upward but wages are increasing at a much slower rate. It’s no wonder why money is a common problem for most people today. According to a MarketWatch article, money is the biggest source of stress for Americans and it is […]
LIVING DEBT-FREE IS A common goal, but it’s no easy feat if you’re living paycheck to paycheck. In fact, in your effort to steer clear of debt, you could make mistakes that make it more challenging to reach your goals. So if you’re striving to eliminate debt – or avoid it altogether – don’t fall […]
