Employees of state and local governments can stash more money in their 457 plans this year, building bigger nest eggs for retirement. 457 Contribution Limits for 2019 The maximum amount you can contribute to a 457 retirement plan in 2019 rose by $500 to $19,000, including any employer contributions. For example, if your employer contributes […]
On the face of it, the landscape of personal finance is a man’s world. Men’s faces dominate our currency. Men largely control Wall Street and the firms that hold and invest our money. And when you see a commercial about financial advising, it’s almost always a man giving the advice. But James Brown was right […]
America’s retirement accounts are growing, but not fast enough. Vanguard has released its annual How America Saves 2019 report. It’s a snapshot of the state of retirement in America that focuses on defined benefit accounts, which are mostly in the form of 401(k)s. Here’s the good news: 1. Despite the market downturn in 2018 (the S&P […]
There comes a time in most of our lives when we may need a personal loan. But taking on debt isn’t necessarily a bad thing. You may need to borrow money for one of life’s milestones, such as to afford the cost of college or to pay for your wedding. Personal loans can be used […]
Two questions I hear a lot from people who aren’t retired are: “When can I retire?” and “How much money do I need to retire?” They’re really variations of the same question. It’s the wrong question to ask, because most people approach the retirement date question from the wrong direction. My answer usually is a […]
This is such a big financial step that it could be called “When your portfolio starts paying you.” This question might sound like a cure for insomnia: Should you take fixed distributions or variable distributions? But it’s more interesting if you phrase it like this: Should you plan to take out enough money to meet […]
When you spend the majority of your adult life working, retirement may seem like it can’t come soon enough. Essentially a decades-long vacation, retirement gives you plenty of opportunities to accomplish those bucket-list items you’ve been putting off for years. And while it is an exciting time, it’s also a drastic change. When you’re used […]
There’s a fast-growing trend among frugal young Americans: saving aggressively to retire early. The “Financial Independence, Retire Early,” or F.I.R.E., movement encourages people to live a thrifty life and save a high portion of their income in order to take control of their financial independence in the future. Kiersten Saunders, 34, and her husband Julien, […]
Americans guessed they need about $1.7 million to retire, and they may not be far off, experts said. Their figure may be realistic, but not their approach to accumulating that much, said Catherine Golladay, chief operating officer of Schwab Retirement Plan Services. The survey of 1,000 Americans between 25 and 70 years old found 51% […]
Researchers tell us that most people would be better off waiting to claim Social Security benefits. Yet most people file early. More than half apply for Social Security before they reach full retirement age, which is currently 66 and rising to 67 for people born in 1960 and later. More than 30% apply as soon […]
Mortgage rates Opens a New Window. have steadily declined with the 30-year fixed-rate bottoming out to 3.82 percent, its lowest level since September 2017, according to the latest figures from Freddie Mac Opens a New Window. . Digital Risk co-founder Jeff Taylor told FOX Business’ Neil Cavuto that now is the time for new homebuyers […]
The average employer 401(k) match reached 4.7% this year, according to Fidelity, which manages more than 30 million retirement accounts. That’s a record high, the company tells CNBC Make It. Prior to 2011, the average employer match was usually in the 3% to low 4% range, but has been slowly increasing each quarter in the […]
