Glenn Daily, age 65, may have found the golden goose. He’s sitting on a pot of cash that not only accrues interest; it can also be tapped tax-free. The New York-based fee-only insurance consultant has held onto an insurance policy that his parents first purchased for him when he was just 12 years old. Each […]
While I rarely advise buying a certain stock or making a money move just because an expert did, that doesn’t mean there’s nothing you can learn from the best minds in finance. Quite the contrary. With that in mind, here are seven of my favorite personal finance quotes of all time, how you can apply […]
Though many workers look forward to retirement, it can be a financially challenging period of life. Suddenly, there you are, moving from a steady paycheck to a limited income you might struggle to boost as needed. That’s why it pays to go into retirement with as little debt as possible. Unfortunately, a growing number of […]
Social Security, despite all its issues — and the real concerns about its future, barring action by Congress — has proven to be a hugely important program for older Americans. The average current retiree gets $1,411 per month from the program, or about one-third of his or her income. Furthermore, it’s also quite flexible, allowing […]
Technology doesn’t have to be expensive. Here are three ways to save money on electronics, cloud storage, and streaming movies and music. Refurbished and open-box deals: Save up to 50 percent on small appliances and electronics by buying certified refurbished items through manufacturers or authorized dealers. Returned or overstock items are often inspected, serviced, tested […]
Generation Xers don’t get a lot of attention. They tend to be overshadowed by their millennial or Generation Z children, and some are even willing to sacrifice their retirement savings in order to ensure that their children can get a college education without ending up buried in debt. Gen Xers are also known for having […]
It’s not uncommon for older adults to downsize or move to a new city in retirement. This can be an exciting time, but it can also be a challenging one, particularly if you plan to purchase a new home. Lenders are prohibited from discriminating against loan applicants based on age, but retirees still face greater […]
Sometimes one spouse wants to save and the other intends to spend. Money is the number one issue that married couples fight about, according to a survey of 1,072 U.S. adults by Ramsey Solutions. The happiest couples make financial plans together and discuss common goals. Couples in “happy” marriages are much more likely to have […]
When you visit a pediatrician, you know she graduated from medical school and completed additional specialized training. When you do business with a lawyer, you know he has a law degree. When you send your child to school, you are certain the teacher is state-certified and meets state-mandated continuing education requirements. So is the same […]
It is a well-documented fact that American workers are financially underprepared for retirement. For example, in a recent Government Accountability Office Report that examined the retirement savings of households in the 55 to 64 age group, researchers found that 55% of households had little to no retirement savings. Additionally, the remainder in that range that […]
Are you counting the days until you become eligible for Social Security benefits at age 62? If so, you’re not alone. Sixty-two has long been one of the most common ages at which to claim Social Security benefits — even as experts repeatedly advise waiting as long as possible. Waiting to claim Social Security benefits […]
There are certain financial lessons we all tend to learn in life, like the importance of saving money and staying out of debt. But sometimes, the best advice out there can lead us astray. The following money moves might seem wise at first glance, but in reality, they could wind up hurting you financially. 1. […]
