If you thought the Bank of Mom and Dad closed its doors after the kids have grown up, think again. The average cost of raising a child to age 18 is estimated to be $233,610, according to the U.S. Department of Agriculture. The expenses continue long after your child has entered adulthood. Half of parents […]
Millennials are banking on winning the lottery to fund their retirement, according to a new survey by investing app Stash. Sixty percent of millennials think winning the lottery is a reasonable retirement plan, and 18% of all those surveyed are basing their retirement plans on hope of hitting the jackpot someday. The chances of winning […]
April is Financial Literacy Month and financial stress is something the American Psychological Association lists as the number one stressor for all Americans. That stress can have an impact on our work life. Experts say an eighth of employees’ work flow is spent on personal financial stress. Companies are hiring younger, which financial advisers say […]
A new study suggests that the power of positive thinking could also have a positive effect on your bank balance. The Motley Fool reports: A whopping 90% of optimists say they’ve saved up for a major purchase, compared to just 70% of pessimists. And 61% of optimists have started an emergency fund, while only 43% of […]
Want to get your financial house in order? There’s a monthly subscription service for that. The same payment model that you use to cover Netflix and Spotify each month has arrived to the world of financial advice. Charles Schwab recently announced it would start charging investors in its Schwab Intelligent Portfolios Premium service a one-time […]
Some American millennials are pretty positive about their financial situations. More than 50% of them think they’ll be millionaires one day, according to a 2018 TD Ameritrade survey, and more than a quarter of that group believes they’ll reach that milestone by age 40. Other studies similarly revealed millennials’ optimistic mindset: The investment-research platform YCharts […]
Investors hear a lot about the importance of diversifying their retirement portfolio. Having the right mix of small and large caps, U.S., international, bond and alternative investments is critical to your long-term success. But what about tax diversification? This can be just as important as what kinds of stocks, bonds and mutual funds you own. […]
President Donald Trump and his business filed suit against Democratic House Oversight Committee Chairman Elijah Cummings on Monday to block a subpoena sent last week seeking information about the president’s finances. In the complaint filed in Washington, D.C., federal court Monday morning, Trump’s lawyers said that Democrats have “declared all-out political war” against him. “Subpoenas […]
In late 2018, ConsumerAffairs heralded that two major changes in how credit scores will be determined were on their way. That time has come. Both Experian and the Fair Isaac Corporation (FICO) have tacked on new metrics in hopes of improving how it evaluates the overall creditworthiness of borrowers. With the aim of gaining a […]
Turn on your tap to help stop pouring on the pounds. Kids, teens and young adults who don’t drink water end up guzzling almost 100 extra calories a day from sugary beverages, on average, according to a new study in JAMA Pediatrics. About one-fifth of the 8,400 subjects ages 2 to 19 in the nationally […]
There are millions of reasons to be frugal. “Ocean’s 8” and “Crazy Rich Asians” star Nora Lum — you may know the rapper and actress by her stage name, Awkwafina — seems to know this well. Though she’s worth millions, she recently admitted to many frugal habits. Earlier this month on the “Death, Sex & […]
Only 64% of workers in America have anything saved for retirement, according to the 2018 Retirement Confidence Survey — and a whopping 47% have less than $25,000 saved, per the prior year’s survey. Clearly, most of us have a lot more saving to do to avoid spending our last decades stressed out making ends meet. […]
