When we think about the expenses that tend to monopolize much of our money, healthcare is clearly a major one for young and older Americans alike. But while it’s one thing to bemoan climbing medical costs, it’s another thing to find yourself in a position where you’re actually unable to pay your healthcare bills. And […]
Social Security is a useful supplement to your personal retirement savings — but that’s all it was ever intended to be. If you’re counting on Social Security to replace most or all of your pre-retirement income when you finally leave the workforce, you’ll be sorely disappointed and wind up struggling to pay your bills at […]
The road to retirement is often paved with financial blunders that cause many seniors to enter their golden years grossly unprepared. But new data from Global Atlantic Financial Group reveals that couples apparently have an edge over singles on the retirement planning front. Only 49% of retirees who are in relationships have regrets about planning […]
Valentine’s Day is just around the corner, and it rarely comes cheap. Consumers are expected to spend $20.7 billion this year, according to the National Retail Federation. That’s about $161.96 per consumer, a six percent increase over last year’s $19.6 billion. For some, Valentine’s Day is the holiday for love. For businesses, it’s an opportunity to […]
When Tanja Hester retired a little over a year ago at age 38, she was considered a personal finance icon to many: She and her husband, Mark, 41, had managed to save enough to live on for the rest of their lives. But she wasn’t always good with money. When Hester was starting out, she […]
In the immortal words of Reverend Lovejoy, “short answer, yes with an if. Long answer, no with a but.” This is going to be one of those articles. How long should you keep your tax records? Forever. That’s the safe answer. Never throw out a 1040 and you’ll be just fine. Your additional records, such […]
Republican Sens. Rick Scott (Fla.) and Mike Braun (Ind.) introduced a bill on Tuesday to end taxpayer-funded pensions for members of Congress. “When Congress failed to do their job and created the longest government shutdown in history, hardworking Americans were forced to go without pay while members of Congress were still collecting paychecks. That is […]
If you read a 401(k) brochure or attend an investment seminar, you might encounter a sentence like this: “Funds in your defined contribution plan feature a glide path that helps mitigate longevity risk in retirement.” Say what? Too often, retirement plan providers rely on jargon to communicate important terms about workers’ 401(K) options, according to […]
Economists who argue that there is no retirement income crisis are missing the point. The crisis is not today, it is 20 years in the future. But the time to act is now, before it’s too late. Every day, millions of Americans go to their jobs, work hard, and play by the rules to pay […]
Financial independence, retire early. Millennials and anybody else looking to break the shackles of their desk jobs by cutting costs to the bone and maximizing savings have been belting that FIRE mantra from the rooftops lately. But just how realistic is such a goal? Cost-estimating website HowMuch.net gathered GoBankingRates data to create this map of what it […]
With a new tax law in effect and a surge of tax returns expected during the Presidents Day weekend, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them the help they need quickly and easily. The IRS receives more phone calls on the day after Presidents Day than […]
Filing taxes is a stressful process, but getting audited can be even more anxiety-inducing. The good news is that less than 1% of all tax returns get audited each year, and if you’re a middle-income earner, your chances are even lower. On the other hand, certain actions on your part could instantly increase your audit risk. Here […]
