Just as it costs money to live during your working years, so, too, does it cost money to maintain a decent lifestyle in retirement. Many workers expect their living costs to drop drastically once their careers come to a close, but what they don’t realize is that most common expenses largely stay the same in […]
More than one in five taxpayers with wages probably had too little money withheld for taxes last year, according to the Government Accountability Office. Among the most likely are taxpayers with wages of $180,000, at least $20,000 of non-wage income and itemized deductions; taxpayers with gambling winnings; those with unreimbursed employment-related expenses; and taxpayers who can’t […]
If you’re getting a divorce, it pays to keep quiet on social media, says New York divorce attorney Jacqueline Newman. Trashing a soon-to-be ex or boasting about your great new life can complicate divorce negotiations. One client’s husband, for example, insisted he couldn’t afford a proposed settlement. Then, he inadvertently gave Newman leverage to get a […]
In June, Natalee King and her husband, Jonathan, realized a decade-long dream of buying a home in Orange County, California, one of the more expensive housing markets in the country. The couple drained their savings for a down payment to win the fixer upper. But concerned about the cost of future repairs and compelled to […]
There’s more to adjusting to a new job than arranging your desk and finding the best place to grab a bite at lunchtime. In fact, the first few weeks and months at a new job are crucial and can set you up for success if you make the right moves from the start. According to our career […]
One of the most dangerous financial traps you can fall into involves short-term loans. For centuries, loan sharks have been willing to lend small amounts of money for short periods of time, charging usurious rates of interest in exchange for acting as a lender of last resort for borrowers who had no other options. Since […]
Apple’s Screen Time feature can tell you more about your iPhone usage than you may care to know. Like how many text notifications you receive, the number of hours you spend on social networking and how your total usage on any given day stacks up against your average. The numbers don’t lie, but they can […]
The FIRE movement is doing a major disservice to retirees and soon-to-be-retirees. I’m referring, of course, to the so-called “Financial Independence, Retire Early” movement. Followers save a disproportionately large portion of their salaries in their 20s and 30s, in order to retire early—say at age 40—and live on their savings for the rest of their […]
If you’re saving for retirement, you’ve surely heard of 401(k) plans and individual retirement accounts (IRAs). Both provide opportunities to invest long-term for retirement and offer tax benefits to help your investments to grow. Contributions to 401(k)s and traditional IRAs are tax deductible, so you only pay taxes when you withdraw the funds. Contributions to […]
By age 50, baby boomers have held an average of 12 different jobs, according to the Bureau of Labor Statistics. In many cases, they may have several company retirement plans from old employers, as well as an IRA or two, along with at least one Roth IRA. By combining these accounts, you may be able […]
Gaylen Rust must have seemed trustworthy to the people who gave him money. Rust was a longtime businessman in Layton, Utah, where he ran a coin shop started by his father in 1966. Rust also founded a charity called Legacy Music Alliance that funded arts programs in schools. An admiring 2013 profile in The Salt […]
In the course of our jobs, it’s natural to land in situations where our work doesn’t conclude at 5:00 or 6:00 in the evening, or whenever we’re supposed to shut down our computers and call it quits for the day. Whether you work for a tech company, publisher, or financial firm, there’s a good chance […]
