Saving for your kid’s college education isn’t easy, but you can probably save a lot more than you think. Here are six important things to know to start squirreling away and investing money in a smart way, including how to save in a 529 investment plan. 1. Save as much as you can for college; […]
There are plenty of reasons to save money as a teenager. Whether you’re looking to save for your first car, college, or a gap-year trip around the world, the most important part of saving as a teen is getting started. Saving for life goals and big purchases is a great way to start to understand […]
Millennials, such as myself, seem to be known the world over for our poor choices, efforts to alter certain cultural norms, or collusion to shutter industries single-handedly. Another bad reputation we receive involves our seemingly perpetual problems for establishing good financial habits. I’ll be the first to admit $5 lattes and avocado toast did a […]
As you’re planning for retirement, you may think you have plenty of time to figure everything out. Especially if you still have decades before you can even consider retiring, it’s easy to push saving to another day down the road. However, successfully preparing for retirement requires a lifetime of hard work. You’ll likely need to […]
Early retirement may sound like a dream. However, if today’s retirees are any indication, you may want to rethink how you plan financially. A new survey from NerdWallet finds that today’s retirees stopped working at 59, on average. That is much lower than the traditional retirement age, which many still consider to be 65. Because […]
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 […]
