If you’re like most pre-retirees, retirement planning starts by asking if you’ll have enough income during your retirement. If it appears you’ll generate adequate income, the focus shifts to tax and investment techniques that will maximize this income. In other words, “given my income, how can I retain more of it?” However, if you’re upper […]
Early retirement is something many workers dream about but few are able to achieve. Roughly half of U.S. adults say they would like to retire by age 60, according to a poll from TD Ameritrade, but only a third think they’ll be able to do so. Furthermore, a whopping 82% say they expect retirement age […]
The mayor of Boston announced Monday that every kindergartener in the city’s public school system will receive a savings account, complete with a starting $50 balance this fall at beginning of the school year. Mayor Marty Walsh said Boston Saves, a pilot program which has benefited about a dozen schools since 2016, is slated to […]
When you’re in your 20s or early 30s, recognizing that you don’t have much in the way of retirement savings can most certainly be a wake-up call, but it’s not necessarily cause for panic. After all, at those ages, you can expect to have multiple decades ahead of you in the workforce during which you […]
RETIREES OFTEN FOLLOW what is known as the 4% rule. Established in 1994 by financial advisor William Bengen, the rule stipulates that you should be able to withdraw 4% of your retirement savings each year without running out of money during your lifetime. But if you are a long-term investor who has maintained a diversified […]
Knowing how to manage your money can make life so much easier. Can you imagine looking at your bank account and not wanting to cry in a corner? Well, getting good with money doesn’t have to be a pipe dream. You’re not a lost cause; you have the ability to manage your mortgage/rent, car payments, student loans, […]
Many younger workers put off saving for retirement so they can focus on goals like paying off their student debt or buying a home. But if you’ve reached your 50s and have no money at all in a dedicated retirement savings plan, consider it a wake-up call to start doing better. Here are three critical moves […]
All this recession talk isn’t going away, with manufacturing weakness joining the inverted yield curve and other indicators pointing to a possible downturn. Recessions can be tough on everyone, but they can be especially difficult for people saving up for retirement — or trying to live through it. We aren’t in a recession yet and might […]
Living a long time is obviously something to aspire to. But when most Americans consider their potential longevity, they’re faced with a nagging concern: What happens if they last longer than their money? This is actually a pretty big worry for many of us, with respondents to a recent survey by the financial services company […]
The retirement dream is moving out of reach for many Americans. A quarter of baby boomers expect to postpone retirement until age 70 or beyond, according to a report from the Insured Retirement Institute, and 8% don’t think they’ll ever retire. Even if you’re doing everything you can to scrape together some cash to put […]
Beth Moncel learned how to whip up tasty meals on a lean budget — then taught millions of savings-hungry home cooks to do the same. During the recession in 2009, Moncel was struggling to stay afloat while making pizzas in the prepared-foods department at Whole Foods. She had graduated two years earlier from Louisiana State […]
Recent figures show that Israelis take on more personal debt than any other nation, outspending their income by 156%. Research by the Taub Center showed that the average debt for 25- to 29-year-olds was NIS 150,000 ($42,000) compared to NIS 315,000 for those 50-60 ($89,000). The danger of accumulating so much credit card and personal […]
