Recession is probably a word you haven’t heard in a while, at least not in the present tense. Yet economic experts fret that one could be coming. And how fast that becomes a reality depends in part on U.S. trade negotiations with China. A global recession could happen in as soon as nine months, Morgan […]
Saving for retirement Opens a New Window. is a challenge for many Americans – and down days on Wall Street Opens a New Window. can add to panic and frustration among investors. U.S. stocks, for example, fell precipitously on Monday – experiencing their worst drop of 2019 – amid an ongoing trade war with China. […]
Ads for apps like Stash, Acorns and Robinhood make it look easy to start investing with just a few dollars. But microinvesting newbies should be aware that using these apps to try to make a few extra bucks could leave you with some extra paperwork come tax season. Dealing with taxes for your likely-modest microinvesting […]
In 2017, the Stanford Center on Longevity analyzed 292 different retirement income strategies and determined the best way for most people to withdraw their savings. It’s called the “spend safely in retirement strategy” (SSiRS) and involves two basic components: delaying Social Security benefits and creating an “automatic retirement paycheck.” In a new 2019 report, “Viability of the Spend Safely in Retirement […]
The math behind saving for retirement can be tricky, but so are the rules tied to investment accounts. If savers had a bit more context around the different types of savings vehicles, they might be better equipped to do so, a new study found. Researchers from HEC Montreal, a business school in Canada, analyzed individuals’ […]
Your student loans may haunt you even after you’ve paid them off. That’s because they’re having a major impact on how much people save for retirement, according to a focus group and survey of more than 1,800 people released by the MIT AgeLab and financial institution TIAA. Nearly three in four (73%) of those with student […]
Before Mary Beth Barritt retired, she and her husband did all the math: They calculated the optimum time to draw Social Security, consulted advisers on structuring their investments and budgeted for daily expenses as well as plans to travel. But the retired college career counselor says she was taken by surprise by unplanned home repairs, […]
Millennials are quickly approaching, or in the midst of first jobs, houses, weddings and kids. These life changes and investments often require money. Financial adviser Brian Williamson said he sees a lot of millennials, those born between 1981 and 1996, come to the Frederick office of Veridean Capital Partners to ask for financial guidance. “A […]
As the trade war between the world’s largest economies rages on, your savings are likely taking a hit. The Dow Jones Industrial Average plunged more than 750 points on Monday, while the S&P 500 dropped nearly 3%. Amid troubles in the market, the most common advice is to do nothing. However, it can be helpful […]
You’d think that personal finance gurus and pundits would embrace the FIRE movement (Financial Independence / Retire Early). The FIRE crowd preaches a debt-free lifestyle, healthy savings rates, smart low-fee investing, and life over money. What’s not to love? Yet it seems that some just can’t help hating on FIRE. They claim few can save the […]
Figuring out how much to save every month so that you’re financially secure when it comes time to retire Opens a New Window. is complicated. In fact, according to the Motley Fool, Opens a New Window. a majority of Americans say they don’t even know how much they will need when they retire, Opens a […]
Social Security is our nation’s most successful social program, at least in the words of presidential hopeful, Sen. Bernie Sanders (I-Vt.) — and the data certainly backs up this statement. After all, more than 63 million people each month, 70% of which are retired workers, are receiving a monthly benefit check. But as you may […]
