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 […]
Americans are making key mistakes when it comes to saving for their retirement, according to a survey conducted by MagnifyMoney. Nearly half of the people surveyed have withdrawn money from their employer-sponsored retirement savings account, and nearly one-fifth of those surveyed are not contributing the proper amount in order to maximize their employer’s match. “The […]
When markets get volatile, people start wondering whether they should sell their stocks or move more of their money into bonds. Before you make your next investment decision, it’s worth looking at how different ratios of stocks to bonds have performed over time—understanding, of course, that oft-repeated investing phrase: “past performance is no guarantee of […]
Nearly one in five Americans don’t contribute enough to their employee-sponsored 401(k) plans to earn the company match, according to a new survey by MagnifyMoney. That means they’re missing out on “free money.” “That’s your company literally saying: ‘Hey, here’s some free money, do you want to take it?’” financial expert Ramit Sethi tells CNBC […]
Saving for retirement is a lifelong process. One-third of Americans think they’ll need between $1 million and $3 million saved to retire comfortably, according to a report from Charles Schwab, and saving that much cash takes decades of hard work. But when you’re young and just starting your career, retirement is likely the last thing […]
Stocks could be in for a rough time in September if history is any indication. The Dow Jones Industrial Average has averaged a loss of 0.75% in September over the past 30 years, CNBC analysis using Kensho shows. In fact, the 30-stock average trades positive just 47% of the time in September. The S&P 500 […]
One of you may be living as a survivor for a long time. Are you prepared? Here’s a question for couples whose retirement is imminent. You think you’ve got it all figured out. Now, what’s your widowhood plan? There’s a good chance one of you will be alone for a decade. This has an impact […]
The calculations used to craft a traditional retirement plan assume that you’ll work well into your 60s and draw income from your savings to fund your remaining two to three decades. But what if you’re not planning a conventional retirement? What if you’re interested in financial independence at a much earlier age? That is the […]
Saving for retirement is a lifelong process. One-third of Americans think they’ll need between $1 million and $3 million saved to retire comfortably, according to a report from Charles Schwab, and saving that much cash takes decades of hard work. But when you’re young and just starting your career, retirement is likely the last thing […]
Nobody likes a job that’s only halfway done, but partial progress often is better than none at all. When it comes to managing money, many Americans still aren’t meeting their savings objectives, or they’re mismanaging their investments or skipping opportunities involving Social Security. People sometimes fail to get going or complete the task, because they […]
The data is clear: Almost every American needs to save more money. Average retirement savings are too low, around 4-in-10 Americans can’t cover a $400 emergency, and average credit card debt tops $6,000. But knowing about the need to save and actually doing it are two different things. Saving can be hard, especially when there […]
