Many workers spend years dreaming of the day they can finally retire, and for some, early retirement would be a dream come true. Approximately 60% of soon-to-be retirees say retirement will be the most liberating phase in their entire life, according to a survey from TD Ameritrade, and 50% of survey respondents said they would […]
Experts often recommend saving up $1 million before you retire. While many people are able to live on much less than that, for others $1 million may not be enough, thanks in part to longer life expectancy and disappearing pensions. At the same time, many financial planners also suggest saving anywhere between 10% and 15% […]
Japan has one of the highest old-age dependency ratios but not one of the highest retirement income replacement ratios. That could spell trouble for its citizens, now and in the future. The old-age dependency ratio measures how many people there are over 65 years old to those who are between 20 and 64 years old. […]
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 little bit surprised […]
As an entrepreneur, your work is such a big part of your life that it may be hard to imagine not doing it. But if, like many people, you are planning to keep working past 65, a recent study from Boston College’s Center for Retirement Research (CRR) may give you pause. “The share of workers […]
Remember the Seven Dwarfs song, “Heigh-Ho, Heigh-Ho (It’s Home From Work We Go)”? How about the 1988 variant by David Chamberlain, “I Owe, I Owe (It’s Off to Work I Go)”? You might be singing the latter tune for longer than you’d like as you try to reduce your debt and expenses while you work […]
For tennis great Andy Roddick, there’s one important rule that works both on the court and in the world of investing. “Even if you’re intimidated by words like ‘volatility’ and you think the world’s going mad … be disciplined with what you put away monthly,” the one-time U.S. Open champ told CNBC’s “Fast Money: Halftime […]
More than half (52%) of Americans have tapped into their retirement savings early, according to a recent survey from Magnify Money, and 23% did so in order to pay off debt. Survey respondents also dipped into their savings to cover a down payment on a home (17%), paying for college (11%) and medical expenses (9%). […]
If you’re close to retirement or already retired, merely reacting to the latest bout of market volatility, viewing it as a warning, may not be enough. It’s time to sit up and take notice, understanding what a larger potential correction could do to your financial situation. Could a market correction, like the one we experienced […]
A significant portion of U.S. adults are delaying starting to save for retirement until a decade or more into their working career — far later than what financial experts advise. Just 39% of adults who are saving for retirement started in their 20s, according to a recent report from Morning Consult, despite half of respondents […]
Looking for a college major that will help squash your student loan debt? Consider electrical engineering. Recent graduates in that field are earning the highest median annual salary — $72,600, according to the National Center for Education Statistics. Longer term, electrical engineers earn a median salary of $99,070, according to data from the Bureau of […]
Two weeks ago Jyske Bank, Denmark’s third-largest bank, shocked the world by offering mortgages with a negative interest rate. Put simply, the bank would effectively pay customers to borrow money. It’s a bit more complicated than that, however, as borrowers have to pay fees that offset the savings. The news got loads of attention, as […]
