Have you ever noticed how conflicting personal finance advice is? Even financial experts can’t seem to agree on the most basic of topics such a debt, emergency funds, or homeownership. Why? Because personal finance is personal. There is no one size fits all solution. Of course, numbers are numbers. The math to get you where […]
Regardless of where you are in life, you may be struggling to get a handle on your finances Opens a New Window. . “The younger you are and the earlier you begin saving, the easier it is long-term and the less you need to save overall,” said Leslie Thompson, founding principal at Spectrum Management Group. […]
The savings account game is heating up again as more financial companies launch products that offer sky-high interest rates. Betterment is the latest to offer customers a high-yield savings option, introducing a new account with up to 2.69% APY. Launched Tuesday, Betterment Everyday Savings is a cash account that’s offering users an interest rate that’s […]
When it comes to preparing for retirement, there’s one key message: save, save, save. But once you finally do stop working, the last thing you want to do is spend, spend, spend. Withdrawal strategies, such as the 4% rule, which give an idea of how much you should take out per year, are a guide […]
Stocks have long been a favorite investment for Americans, but according to a new survey, they are putting their money elsewhere. Despite stocks’ great long-term returns averaging about 10 percent annually for decades, Americans are turning to real estate. Years after a housing crash that left the economy hurting, many Americans still see real estate […]
It’s not always easy being a millennial. Born between 1981 and 1996, many members of this generation came of age during the Great Recession of 2007-2009. Jobs were scarce, student loans were staggering, and more than a few millennials were forced to call their parents’ basements home. The economic experience left financial scars, for sure, […]
Avoid these common faux pas. If you’re getting married, it’s critical to be on the same page as your partner when it comes to managing your finances. In addition to intertwining household bills and chores, you’ll also have to consider whether you’ll share a joint checking account, how you’ll file a joint tax return and […]
Many of us may daydream about retiring early, and bidding our careers adieu in our 50s — or even our 40s. But nearly everyone who transforms that vision into reality does so by making some significant sacrifices during their working years. That’s a point not lost on today’s workers who want to retire ahead of […]
There are two types of retirement savers when it comes to an employer-sponsored retirement account: those who are active and others who are passive. Knowing which you are may help you save more for the future. Passive savers are more likely to rely on auto-enrollment, where their companies take the initiative to place them in […]
The typical senior will need roughly 70% to 80% of his or her former earnings to live comfortably during retirement, and in many cases, Social Security will only provide about half that amount. That’s right — Social Security isn’t designed to sustain retirees in the absence of outside income. But if you’re nearing your golden years without […]
We’re often told how important it is to save for retirement, especially since senior living costs keep climbing and Social Security isn’t enough to sustain seniors in the absence of outside income. And while it’s generally a smart idea to allocate money each month to an IRA or 401(k), there’s one scenario where you actually […]
Recently, personal finance expert and TV personality Suze Orman drew criticism for scolding millennials over their coffee habits. Specifically, she likened the habit of purchasing coffee to throwing away $1 million — money that could otherwise be used to fund a retirement. Now the underlying idea Orman was perhaps trying to convey isn’t a terrible […]
