Tax season is a time many Americans look forward to. While no one likes doing the paperwork associated with income taxes, many filers are excited to get a big check from the IRS. And receiving a refund check is extremely common. In fact, at least three-quarters of tax returns submitted in recent years resulted in […]
Decisions you make about health insurance affect your finances in profound ways. Going without insurance puts you at grave risk of financial disaster — and you’ll also owe a federal tax penalty for not being covered. While buying insurance provides important protection from devastating financial loss, finding the right policy isn’t easy. And if you […]
Before the Social Security Act of 1935 became law, seniors didn’t have any sort of financial safety net beyond pensions that were being paid to disabled veterans of the Civil War or their families. Today, Social Security provides a critical source of money to more than 43 million retired workers, many of whom count on […]
It’s that time of year: time to dust off the Christmas tree, light the menorah, or put the Elf on the Shelf. Ready or not, the holidays are upon us. If you have kids, you’re well aware of this fact, given that they probably have dozens of gift ideas by now, from Nerf guns to […]
How much savings will it take to retire? If there was a clear-cut, universal answer to that question, saving for the future would be a far less daunting prospect. Unfortunately, there is no magic number that guarantees financial security down the line, but for some reason, Americans seem pretty set on $610,000. In a new […]
Before 2018 ends, investors can use these strategies to reduce their portfolio’s risk and their taxes. Rebalance your portfolio: Suppose that three years ago, you put $60,000 into Vanguard Total Stock Market Index fund and $40,000 into Vanguard Total Bond Market Index fund because you wanted a 60-40 split between stocks and bonds. As of […]
There are good secrets and bad secrets, especially in marriages. A good secret might be that you found a certain vintage jigsaw puzzle your partner has long been seeking, and it’s wrapped up under the tree. A bad secret… well, how about if you’ve got a secret credit card? Or you’re making secret purchases? Or […]
The holiday season is officially upon us, which means many of us are spending our every spare minute hitting the stores and searching the internet high and low for deals on gifts galore. But while this time of year is joyous in many regards, it can also be stressful — especially for those of us […]
You likely already know that stashing cash in an employer-sponsored retirement plan is one of the most reliable ways to get ready for retirement. But not all 401(k)s are the same. Sure, certain regulations — like the maximum contribution limit — are set by the IRS and therefore hold, no matter the employer or account […]
We all like to believe that we’ll stay healthy during our golden years, but the statistics don’t lie. Among adults 65 and older, 68% will require long-term care at some point, according to a study by the Insured Retirement Institute (IRI.) However, only 25% of retirees surveyed believed that they are likely to need long-term […]
Social Security isn’t enough to support you fully in retirement, but it’s a nice supplement to your personal retirement accounts. Even if you receive only a few hundred dollars each month, that’s money you don’t have to withdraw from your own savings. Often times, when people don’t understand the mechanics of Social Security, they end […]
In a perfect world, saving for retirement would be easy. That world assumes everyone makes an adequate salary, can afford all their necessities and a few frills, and feel comfortable setting aside some money for the future. Yet the reality is that retirement saving is not easy for everyone. Lower income and debt, whether from […]
