There simply isn’t a social program in this country that has more importance to the financial well-being of our nation’s retired workforce than Social Security. Each month, more than 43 million retired workers receive a Social Security benefit check, and three out of five rely on their payout to account for at least half of […]
Though the holidays are a pretty spectacular time of the year, they can also be pretty stressful. From gift-giving obligations to social plans, it can be hard to avoid overspending and stick to a solid work schedule. The latter especially applies when you’re a freelancer who doesn’t get paid time off. As such, my colleagues and […]
The past decade has been enormously rewarding for stock investors. Even after the recent drop, which still has stocks down almost 15% from the peak in early October, the S&P 500 has delivered an incredible 244% in total returns over the past 10 years. Here’s the thing: While it has been a great decade, it’s actually relatively normal […]
Which budgeting app should you use? Here are the pros and cons of some of the best. There are a lot of apps and tools ready to teach you how to manage money — but which are the best? Some credit card companies have started offering credit card management apps; should you use those, or stick […]
As we begin another year, it’s time to create your financial goals and household budget for 2019. Do you have enough income to live comfortably within your means? What are you saving for or paying off? Are you on track with your monthly household budget? Do you even have a budget? Here are some helpful […]
Claiming Social Security benefits early could reduce the monthly payments you receive by as much as 30%, but taking these benefits early can help many people retire better and sooner. In fact, here are three reasons why you may want to take your Social Security benefits at age 62, rather than delaying until your full […]
The finances of young Americans are not in great shape. The typical millennial has less than a week of salary (less than $1,000) saved for emergencies and leaves school with more than $37,000 in debt, on average. Many have nothing saved for retirement. Compounding these problems, millennials are also hesitant to negotiate: Only 37% of milennials have ever asked for a raise compared to […]
If you’re planning a financial overhaul in 2019, one of the first things you need to do is figure out where you stand. And as advised by Kiplinger, one of the easiest ways to do that—and potentially discover possible cracks in your foundation in the process—is to create a balance sheet. “Make a list of all […]
Because of stock market volatility — and likely the start of a downturn — Jeff Janus, a 59-year-old word processor in Chicago, won’t be able to retire when he hoped. Janus was planning to retire soon. His goal was to do so when his 401(k) plan reached $1 million, and he was close, until October. […]
Age 65 is a major milestone, and one worth celebrating. If you’re turning 65 in the coming year, here are a few important things to be aware of. 1. You can enroll in Medicare — but doing so might not make sense Medicare eligibility kicks in at age 65, and your initial enrollment period begins three […]
These are the best Fidelity funds by performance for your Fidelity 401(k). Fidelity Investments is a powerhouse in retirement planning. Investors put $6.8 trillion in Fidelity 401(k)s, or more than Japan’s $5.4 trillion gross domestic product. Although stock funds are usually your best bet for high returns, investing entirely in stock may not be the […]
Medicare health insurance premiums can add up to big bucks, especially if you’re married and both you and your spouse are paying. In this column, I’ll list the 2018 and 2019 premium amounts and explain when you can potentially claim tax deductions for them. Here goes. Medicare Part A Premiums Medicare Part A coverage is […]
