Many financial planners, myself included, group debts into two broad categories — good debts and bad debts. Good debts include those that have relatively low interest rates and will help enhance your life. For example, a mortgage allows you to buy a home, which will hopefully increase in value over time. An auto loan (assuming […]
Paying off debt is a worthy goal, and it should be near the top of your financial to-do list if you have high-interest loans. But freeing yourself from the burden of debt is rarely easy or straightforward — especially if you owe many different creditors. There are two important decisions you need to make and […]
Countless television shows glamorize the concept of flipping a house. They make it appear relatively easy to find a property that’s priced well below its market value due to it needing extensive repairs. If you’re handy and can paint, it seems like profits are just there for the taking. There are even seminars on house […]
When you’re retired, you need all the income you can get. This income may derive from many sources, including retirement investment accounts, pensions, and Social Security. However, there’s a good chance you’ll lose at least part of your retirement income to the IRS — and potentially to state taxes as well. The good news is, […]
These days, a large number of workers are opting to do their jobs from home rather than drag themselves into an office day in, day out. There are several benefits to working remotely. First, there’s the savings from not having to pay to commute, not to mention the time saved by avoiding traffic. Working from […]
Life comes with a lot of little surprises. Your best friends may throw you a party on your 25th birthday, full of confetti and cocktails. Your significant other may get down on one knee and propose during a cozy dinner at home. You may win a trip to Europe after calling into a radio contest, […]
Americans are hardly known for being great savers. If anything, they have a tendency to spend money and rack up huge loads of debt in the process. The problem has gotten so bad, in fact, that 65% of Americans in debt have no idea when they’ll shed it. Worse yet, 25% of those in debt […]
Most people think of a 401(k) as a smart place to invest their money, and it can be. But it can also be a poor choice if your 401(k) restricts your savings’ growth by charging high fees or offering few investment products for you to choose from. Before handing over your hard-earned cash, you need […]
Retirement is a monumental transition in a person’s life, and it shouldn’t be taken lightly. Every aspect of life is affected by the decision to retire, including relationships, health and wellness, and of course finances. Couples in particular are learning how to share their hopes and fears about retirement with one another, and looking for […]
With life expectancy and inflation rates rising, Americans are increasingly delaying retirement as they fear their nest egg running out. How should one combat this? Well, you could always plan for a shorter retirement, simply because it would be easier to manage costs over a shorter time frame. You could also take up a part-time […]
If you find retirement planning daunting, a target-date fund purports to offer relief. They’re designed to provide a “set it and forget it” investment solution for individuals with a long-term savings goal, like retirement. While target-date funds have certain benefits, their cookie-cutter approach also has its drawbacks. You may already have a target-date fund in […]
Few, if any, social programs pack a punch for the American public quite like Social Security. This is a program that provides a benefit check to nearly 63 million people each month, 7 out of 10 of whom are retired workers. Of these retirees, 62% lean on their monthly payout to account for at least […]
