There are a lot of rules surrounding retirement saving telling you what you are and aren’t supposed to do with your money. Do start saving early, don’t rely too much on Social Security, do contribute as much as you can to your 401(k), etc. There’s one “don’t,” though, that is less obvious but just as […]
Nearly everyone wants to save more for retirement, especially because so many people are falling behind on their savings. The average 401(k) balance among U.S. adults is roughly $92,000, according to a report from Vanguard, yet that number is skewed by those with especially high balances. A more accurate picture of the typical American’s savings […]
Where are you going to find meaningful income to get you through retirement? Not from popular stocks, with the S&P paying less than 2%. And bonds won’t help either, as their yields are in the tank, too. Instead let’s consider real estate investment trusts (REITs), which are tailor-made for investors who are at or nearing […]
Pay yourself first Rather than treating savings as an afterthought, set up a standing order into a separate account as soon as you get paid, says Anna Bowes, the co-founder of Savings Champion. “That way it can become just another bill, but one that you will benefit from in the future.” Jasmine Birtles, the founder […]
When John Sullivan’s aging mother needed to move, it was a challenging experience. Sullivan’s mother had macular degeneration and couldn’t drive anymore. Consequently, he and his brother looked for senior living communities. But they had many questions, many of which they didn’t know the answer to. Adding to those difficulties, they were trying to sell […]
Many people casually throw around the terms Roth IRA and traditional IRA, but there are significant differences, with pros and cons to each. This article explains the value of a Roth IRA as a savings instrument. Roth IRAs, like traditional IRAs, can accumulate money faster than a comparable taxable investment, providing more money to live […]
Breaking up can be hard to do if the other party doesn’t want to let you go. People who move out of high-tax states may learn this the hard way — through a residency audit. States such as New York, California and Illinois use the audits to claim that your recent interstate move was just […]
Generally speaking, the higher your credit score, the better off you are when seeking a loan. But the recovery time from a missed payment or financial setback of any kind differs for everyone. As many consumers know, your credit score plays a big role in daily life. It can determine the interest rate you’ll pay […]
For years, many workers nearing retirement have professed plans to work part-time during retirement. But few retirees have actually continued working part time. Things are changing. A recent survey of pre-retirees and retirees shows that the gap between planning to work in retirement and doing so has narrowed. I have to confess I was a […]
On a recent weeknight, Dahlia and Adam Brown came home to their spacious Colonial on a quiet cul-de-sac in Marietta, Ga. The Browns both work demanding jobs and have two young sons. They bought the house in June using Knock, a company that’s trying to revolutionize the real-estate industry with a “home trade-in platform” making […]
Members of Generation Z (age 22 and under) are now the youngest employees in the workforce. But as they start their professional careers, many are failing to focus on a key aspect of their personal finances: their savings. In fact, 57% of Gen Z has no idea how much they have in personal savings, compared […]
You’ve probably already heard about the FIRE movement. FIRE stands for financial independence, retire early. Usually, the people who follow it are in their 20s and 30s and saw what happened to the economy in 2008 and have decided to put saving above all else in a bid to free themselves from worry. They’re having […]
