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 […]
Most people who start saving for retirement expect things to go well. However, a number of wrong turns can make it hard for your nest egg to grow. Recent research at Boston College found that a 25-year-old with a median income who contributed regularly to his or her 401(k) account starting in 1981 — when the […]
To take control of your financial future, you have to make sure you are managing, growing and protecting your money properly. It’s easy to get scared off by the thought of numbers and spreadsheets — but don’t. Instead, think of your financial health as a part of your overall wellness. “Research shows that financial worries […]
You’ve likely heard the pitch, “Would you like to apply for a store card?” as you’re making purchases. Many times, you should just say no to that offer, new research shows. That’s because many stores will try to lure customers with terms like “0% interest” or “special financing.” Once the initial time period ends, that […]
When you weigh the cost and benefits, personal loans are a smart play in these three scenarios. Personal loans are one of the most versatile types of loans because you can use them for just about anything. But the fact that they don’t require any collateral means that they aren’t always the most affordable option. […]
Finances can be a touchy subject for many people. In fact, 57% of Americans say they intentionally avoid discussing money with friends, according to a survey from eMoney Advisor. Among those who are working with a financial advisor, nearly one-third say they’re not completely honest about their spending habits. It can be tempting to avoid […]
As clients get older, they often start to feel obligated to retire. They love working, but they are 65 or older and all their friends are doing it. The traditional concept of retirement is called a “cliff retirement” because it is so abrupt. One day you are working full time, and the next you are […]
Without retirement savings, you’ll risk struggling financially later in life. That’s because Social Security won’t provide enough income for you to live comfortably. If you’re an average earner, you can expect those benefits to replace about 40% of your pre-retirement income, but most seniors need more like 70% to 80% of their former earnings, and […]
There’s a lot of information out there about the ideal way to save for retirement, and it can be overwhelming and downright stressful trying to absorb it all and make the best financial choices. In fact, roughly half of Americans report feeling anxious, insecure, or even scared about their finances, a survey from Northwestern Mutual […]
