A 401(k) account can be a surprisingly powerful aid in securing a financially sound retirement Opens a New Window. , particularly if you’ve been making annual contributions, and especially if your employer Opens a New Window. has been matching those contributions. (That’s free money!). That’s not to say these accounts are perfect. They’re not. Here […]
Auto-enrollment introduces millions of Americans to the concept of saving for retirement — but it’s not enough of a good thing. More companies are implementing automatic enrollment, in which new employees are signed up for a retirement plan, such as a 401(k) or 403(b), when they start their jobs. The money comes out of the […]
To save, or not to save. That question might not be yours. A growing number of companies direct money from their employees paychecks to a retirement account — even after a worker has said “no, thanks.” Auto-enrollment into retirement plans, of course, is not new. The practice has taken off in the workplace since President […]
Health can destroy wealth. Just in the past year, Americans borrowed an estimated $88 billion to cover health care costs, according to a survey from West Health and Gallup, released Tuesday. What’s more, 45% of Americans are concerned that a big health event could cause bankruptcy. They’re right to be concerned. More than two in three […]
WHEN PARTS OF THE FEDERAL GOVERNMENT SHUT DOWNtoward the end of last year, many Americans went without a paycheck or two. Crisis followed. A tax examiner for the IRS couldn’t afford to pick up his insulin prescription. A geologist for the Department of Interior was left with just $33. Some workers had to take on temporary jobs. For a […]
Sometimes too much financial help Opens a New Window. is a bad thing. A new study from Merrill Lynch shows that 79% of parents provide some financial support for their adult children. And Ramsey Solutions financial expert Chris Hogan said parents may actually be setting them up for failure. “It’s so important for us to […]
With Tax Day around the corner, more people are able to answer the question: Will I get a refund or do I owe? The big takeaway: You could be surprised at how the new Tax Cuts and Jobs Act affects your bottom line. ln fact, almost one-third of taxpayers who must pay up to the […]
It’s financial literacy month, do you know where your retirement is? CNBC Chairman Mark Hoffman rings the NASDAQ opening bell today to kick off the special month, created in 2003 to teach Americans how to establish and maintain healthy financial habits. Americans can sure use help with retirement. Baby boomers, in particular, have not saved nearly enough for […]
Your friends may be hearing wedding bells, while you may be more worried about something else: sky high bills to attend. Spring officially kicks off the start of wedding season. And for some that can cause financial pain — even if you are not the one walking down the aisle. A new survey from personal […]
Since 2013, consumers have been squeezed with savings rates hovering near zero percent. Many banks still aren’t paying much more than 0.05 percent even today on savings, despite several recent interest rate hikes by the Fed. No banks are yet paying the 5 percent rates seen in early 2000s to the recession on money market […]
It’s not easy to put a price on your life. There’s a lot to consider to find out how much life insurance you need, including whether or not you have kids, a working spouse, a mortgage or other debt, and savings or investments. Not everyone needs life insurance. Insurance-comparison website Policygenius boils it down to […]
Whether you’ve filed your 2018 tax return already or are still in the process of putting it together, you probably have one goal: to pay less tax this year than you did the previous year. The good news is that there are a number of strategies you can employ to lower your tax burden, so […]
