Affluent parents — defined as households with investable assets of at least $500,000 — generally understand the cost of raising a child and have planned for their child’s future as well as their own retirement and legacy, according to a new study from Personal Capital. That’s a wallet being pulled in a lot of directions […]
The start of a new year is the perfect time to begin thinking strategically about taxes. With 2019 right around the corner, here are a few moves to plan on making. 1. Figure out whether you’ll take the standard deduction or itemize Tax filers have two options when preparing their returns: They can itemize their […]
Nearly half of non-retired Americans predict that they won’t retire until at least age 66, according to a 2018 Gallup poll. But what if you could be one of the few who retire far earlier than that? Imagine being able to spend your 50s traveling, pursuing your hobbies, and spending more time with your children […]
It’s time for my 14th annual “What I want for Christmas” list. Some wishes from Christmases past have come true: The major credit bureaus — Equifax, TransUnion and Experian — finally, finally, finally have been forced by law to allow consumers to freeze their credit files at no charge. This will help people protect themselves […]
Buying a house is one of life’s most exciting milestones. You get to decorate, make the home your own, and set down roots — all while building equity and, ideally, increasing your net worth. But buying a house is also a really big financial decision, and if you don’t hit some money milestones before you […]
Given that 40% of U.S. adults don’t have enough savings to cover a mere $400 emergency, the need to ramp up savings efforts is clear across the board. And with a new year about to kick off, many folks are resolving to do better in the savings department once 2019 rolls around. But, perhaps unexpectedly, […]
Anyone who wants to use their income wisely can benefit from learning how to build a budget and stick to it. Despite the importance of living on a budget, most Americans don’t even have a plan for their money. If you’re part of the minority, Americans who do actually have a budget, you’re already ahead […]
With retirement becoming increasingly expensive, saving independently is all the more crucial — especially since Social Security by itself won’t be enough to pay for retirement. Thankfully, there’s some good news in this regard: 401(k) contribution limits are increasing in 2019, which means workers will have a greater opportunity to pad their nest eggs. Currently, […]
Using credit cards wisely is more than just avoiding debt. You need to protect your credit from identity thieves and make sure you’re getting the most from a card’s rewards program. To help with that, consider these four savvy credit moves. Freeze your credit reports: A freeze is the best way to prevent identity thieves […]
Early retirement is a dream for many, but even if you think it’s a possibility for you, that doesn’t mean it’s your best option. In fact, financially speaking, you may be better off not retiring early. Here’s a few reasons waiting to retire may actually be the smart move. 1. You will boost your Social […]
So you want to be wealthy? Welcome to the club. Now, how to get on the road to riches — especially if you’re living paycheck to paycheck. It’s not complicated to find a path to wealth, and nearly anyone can do it over time, with dedication and discipline. Here’s the task: Spend less than you […]
When you’re ready to retire, you’ll want to have more than Social Security savings to pay the bills, which typically only provide enough money to replace about 40 percent of average earnings. To live comfortably in retirement, you should have either a traditional pension plan or a defined contribution plan, like a 401(k) account. While […]
