Saving money is difficult, and if you’re having trouble socking cash away for the future, you’re not alone. Roughly a quarter of U.S. workers have less than $1,000 saved, according to a report from the Employee Benefit Research Institute, and nearly half have less than $25,000 in total savings. Saving for retirement is a particular […]
No matter your income or background, you’ll probably experience a few financial emergencies in your lifetime. A tree might fall on your house during a storm. You might lose your job and be out of work for a couple of months. Your kid might break an arm and need to go to the emergency room. […]
Retirement is an adventure, and it can be the perfect time to start fresh with a new beginning. For some people, that may mean living out their golden years in a different city. Moving during retirement is a big decision that shouldn’t be taken lightly, and it’s not always the right decision for everyone. Some […]
If you want a financially secure retirement, you have to save for it. But it’s hard to get an early start on your retirement savings, especially with all the demands on your hard-earned money for immediate needs. Balancing current and future financial necessities can seem next to impossible. Unfortunately, it’s all too common for people […]
In retirement, as in every other stage of life, high-income and low-income households tend to lead different existences. Yes, they all spend money on necessities like food, housing, and healthcare, but how much they spend and the proportion of their budgets that these necessities take up vary. This, in turn, affects the quality of one’s […]
Millennials may get flack for being hooked on their smartphones, but this generation may be on to something with respect to retirement planning. There’s a movement gaining momentum among the younger set called FIRE, or financial independence, retire early. FIRE involves saving high percentages of your income today to create a work-free tomorrow. Saving does […]
According to the Social Security Administration, more than three out of every five retired workers rely on their monthly payout to account for at least half of their income. That, arguably, makes deciding when to take benefits the most important decision that seniors will ever make. Unfortunately, deciding when to take your payout isn’t a […]
If you have a credit card from Chase or Citi, you may be able to borrow against the unused portion of your credit line in the form of a loan. Both issuers are touting the loans to select customers as a quick and easy way to get cash — say, for an unexpected expense or […]
It will be a long winter for millions of Americans who won’t be able to head to the ski slopes or sunnier climes for a vacation. Some 33 million Americans, many of them millennials, are financially tapped out and will stay home this winter, according to a new WalletHub survey. “It should be no surprise […]
Target-date funds (TDFs) can be fantastic retirement savings tools. Many are well-diversified, cost-effective, and automatically reduce risk for investors as they approach retirement. There’s a problem though. Most hold bonds in their early years when young investors are protected from portfolio balance declines by relatively large contributions to accounts with relatively small balances. They also […]
When Ed Crowley was buying his Kentucky home in 2003, there were plenty of hard-copy documents he had to fill out during the process, culminating in a closing with piles of papers to sign. But when Crowley purchased a new house in 2016, he didn’t touch a single piece of paper until the closing. Until […]
Over the past year, Apple has faced criticism over its apparent refusal to take a stand against the Bay Area’s crippling housing crisis. But all the while, the iPhone maker held a closely-guarded secret: Behind closed doors, Apple was, in fact, talking about housing — first internally and then with the governor’s office and local […]
