According to the latest data from the NY Fed, total consumer debt is now at an all time high of $13.2 trillion. That equates to an average of over $40,000 owed by every single American across mortgages, student loans, auto loans, and credit cards. So much debt can certainly feel overwhelming and helpless. For some, […]
Financial fragility doesn’t always present the way most consumers’ imaginations tells them that it will. The most common perception people have of the financially-fragile customer aligns most closely with either the “On the Edge” consumer profile or the “Shut Out” profile described in the PYMNTS/Unifund Financial Invisibles Report. And there are some compelling reasons for […]
Figuring out where to retire might be easy for some, but for others it’s a difficult decision. There are all kinds of articles about the best places to retire in the U.S., specifically in Florida, but what if the choices on these lists don’t really speak to you? It’s easy to default to retiring in […]
The countdown to retirement can include all sorts of plans — setting aside extra cash in in the 401(k) plan, aiming to pay down debt, dreaming about the first trip you’d like to knock off your bucket list. But retirement experts will tell you that it’s the things that you don’t plan for that derail […]
These days, having an adult child live at home is relatively commonplace. As of 2016, 15 percent of 25- to 35-year-olds were living in their parents’ home, according to a 2017 study from Pew Research Center. For many well-meaning parents, welcoming their adult children home means helping them manage a transition, save money, pay off […]
You don’t have to look far to find disconcerting headlines about saving for retirement. According to the 2018 Northwestern Mutual Planning & Progress Study, one in three Americans have less than $5,000 set aside for retirement. While Americans’ lack of retirement planning and subpar savings habits are a cause for concern, fortunately there is […]
The stereotype of retirement where people lounge on a beach somewhere for the rest of their days, is retired. Older workers aren’t always counting down the days until retirement — many do work, just in different capacities, studies show. The Bureau of Labor Statistics estimates in the next eight years, the groups of workers 65 […]
It’s easy to see the appeal of starting a small business. It can be a path to the American Dream, and along the way, it gives entrepreneurs a shot at controlling their own destinies and creating something for themselves and their families. So it should come as little surprise that when surveyed on behalf of […]
Doubling your savings may not be as hard as it sounds. There are a handful of simple habits you can start today that could make all the difference with your money. But don’t take our word for it. We rounded up six tried-and-true strategies from early retirees and super-savers that don’t require much time or […]
A growing percentage of Americans believe they’ll have to work well into their 60’s and beyond in order to save up enough for retirement. In fact, Northwestern Mutual’s 2018 Planning & Progress Study found that 73 percent of those planning to work past traditional retirement age are doing so because they don’t have enough saved […]
When you place your money in a financial institution, the last thing you want to worry about is paying excessive charges for routine tasks like using a checking account or withdrawing money from an ATM, or leaving yourself vulnerable to fraudsters. And beyond dodging exorbitant extra fees and safeguarding your personal information, there are plenty […]
Are big changes coming to your 401 (k) and IRA? Congress is looking at a series of changes. Among them: 401 (k) sponsors would have to show you, on each statement, how much income your balance would generate with an annuity. The goal is to help you better understand where you stand retirement-wise. Lawmakers may […]
