There is a seismic shift in the real estate market and it’s all due to the Millennial generation. “Millennials have represented the largest share of the home buying market for the past five years in a row with the 2018 share at 36%,” says Anna DeSimone, author of Housing Finance 2020 and a housing advocate. […]
Savings matter. That’s the No. 1 idea Stadion Money Management’s Will McGough, the firm’s chief investment officer for retirement, is promoting among his clients as he tracks what he calls a burgeoning ”‘savings more’ crisis.” That’s because McGough, whose firm invests its $3 billion in assets under management almost exclusively in exchange-traded funds, believes the […]
THERE’S A LOT OF PREP work to complete when you’re expecting a new baby. Expectant parents have a nursery to paint, strollers to buy, doctor’s appointments to attend and nannies to hire. But in addition to those tasks, experts say, newbie parents should be taking care of financial matters in the months leading up to […]
Most retirement plans, such as 401(k)s, typically lock you into a plan that offers a small selection of mutual funds for the participants to invest in. However, more retirement plans are letting participants have a brokerage account within the plan. This allows investors to invest outside the plan’s investment offerings, and put their money into […]
Saving enough money for retirement is challenging, even if you have a clearly defined plan. What’s disturbing is that most people don’t even have that much going for them. This causes many to underestimate certain retirement costs and overlook others altogether. Here are five commonly ignored costs that could take a sizable chunk out of […]
A recent survey shows plenty of baby boomers and Gen Xers are financially unprepared for retirement. But so-called millennials, those born between 1981 and 1996, likely will have it much worse. New research shows this generation, which will begin to retire around 2050, faces “dismal retirement finance prospects,” writes veteran columnist Mark Hulbert at MarketWatch. […]
Having basic personal financial skills is one of the most important things you can do to live a healthy, happy and secure life. Your level of understanding around the fundamentals of budgeting, saving, debt and investing will impact every part of your life and can mean the difference between prosperity or poverty. With how important […]
If you’re in the homestretch toward retirement but not confident that your retirement savings are on track for you to live the lifestyle you expect, don’t give up. Two easy, totally realistic steps can dramatically boost your retirement savings. One of our what-if scenarios pays off by adding a hefty $440,000 to your nest egg. […]
The average American thinks they’ll need approximately $1.7 million to retire comfortably, a survey from Charles Schwab found. Considering the median amount baby boomers have saved for retirement is just $152,000, according to a report from the Transamerica Center for Retirement Studies, there’s a significant gap between what workers have saved and how much they […]
One of the questions I hear most frequently from colleagues is: Why are IRA limits so much lower than those for 401(k) plans? There is actually a good answer, but it never leaves people feeling good about our retirement system. To be clear, the difference in the limits is unfair: People lucky enough to have […]
Thanks to structural and personal reasons, many workers are falling short of adequately funding their retirement accounts, according to the authors of a new report, titled “Why Are 401(k) Balances Substantially Below Their Potential.” “A 25-year-old median earner in 1981 who contributed regularly would have about $364,000 by age 60 [under ideal conditions], but the […]
Approximately 58 percent of millennials Opens a New Window. have been rejected for at least one financial product Opens a New Window. , a new survey has found. The reason, according to the Bankrate.com Opens a New Window. report published Wednesday, is because of their credit score Opens a New Window. . Meanwhile, the survey […]
