For all the hype about the upcoming presidential election in 2020, there is something coming earlier that is much bigger, and its ramifications for the global economy will last for decades. What am I talking about? The first wave of millennials is about to turn 40. That’s right. This super-caffeinated, highly educated generation is rapidly […]
We all make mistakes, but some cost us more than others. As you grow older, money mistakes can have bigger and bigger consequences. Financial miscues can affect your ability to buy a home, put your kids through college, advance your career or retire without worry. It can be hard to plan ahead and know what […]
Most Americans aren’t saving enough for retirement, leading to big retirement-savings shortfalls. In fact, according to Employee Benefit Research Institute (EBRI), more than four in 10 families where the head of household is between the ages of 35 and 64 will run short of money during their retirement. Not all households are equally short on […]
According to a recent Gallup poll, the average retirement age in the U.S. is 61. But enjoying your retirement hinges on whether you’ve saved enough money to live comfortably. “When people are going into retirement there are more and more things that they’re uncertain about. They’re uncertain about their health, uncertain about their income, are […]
There are dozens of factors to consider as you’re planning for retirement. How much should you be saving? What age should you retire? How much will you be receiving in Social Security benefits? One factor that’s probably not among your top concerns, however, is where to stash your cash. Not all retirement accounts are created […]
If you start saving around $400 a month in your 20s, you’ll likely be able to retire at age 67 with $1 million in the bank. But what if you’d rather reach that seven-figure milestone — and become financially independent — much sooner? CNBC calculated how much you need to save and invest each month in […]
Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard’s “How America Saves 2019” report, published this month, the average American worker aged 65 and older has about $192,877 in their 401(k) and a median balance of around $58,035. That’s nearly $20,000 more […]
Saving for retirement is an important financial goal, but it’s been a difficult one for most Americans to achieve comfortably. Finding more money to save is always a challenge, and even those who do a good job of accumulating assets and investing well during their careers can find that their nest eggs are still vulnerable […]
Can you come up with $10 a day? If so, you can potentially retire with over $2.7 million dollars to your name. That’s what you would wind up with if you invest $10 a day for a 45-year career at a 9.5% annual rate of return. Given that that rate is about the level of […]
Once you reach your mid-60s, retirement is just around the corner, which means you have limited time to boost your savings before your career comes to a close. Unfortunately, many Americans risk running low on money in retirement, and it’s all because their savings aren’t as robust as they should be. The average 401(k) balance […]
If you’ve spent nearly your entire adult life working, retirement may seem like it can’t come soon enough. And the idea of spending several decades in retirement probably sounds like a dream. To your wallet, though, a long retirement may be more of a nightmare. A third of today’s 65-year-olds can expect to live past […]
Most people are expected to outlive their retirement savings, a new study from the World Economic Forum found. That should come as no surprise, as the median amount baby boomers have saved for retirement is just $152,000, according to a report from the Transamerica Center for Retirement Studies. That may sound like a lot of […]
