When we talk about how to retire early, and how much we need to save, we often only talk about how much our own needs and wants will cost. But of course that’s an incomplete answer. For nearly all of us, there are other people in our lives who may need to factor into our […]
No one can say millennials aren’t optimistic. Even with the uncertainty that surrounds stock markets today, millennials think retiring by age 61 remains a realistic possibility, according to a new Bankrate survey. However, older generations are not as confident as the youth of America. Half of the baby boomer population thinks it’s best to retire […]
Is your home a worse investment than you think? That’s what this article argues by pointing out all the expenses that reduce the return on homeownership. After subtracting mortgage payments, home upkeep, closing costs, a real estate agent’s commission, and the cost of remodeling and adding a patio to maintain average home size, the author […]
Thinking about starting a new business? Running your own company is rewarding, but there are challenges. Perhaps not surprisingly, some of the biggest hurdles come when you’re a first-time entrepreneur just getting your company off the ground. New business owners need to build all of their processes from scratch while complying with myriad rules. If […]
With the average 30-year fixed mortgage rate now climbing over 4.7 percent, it’s no surprise that many homeowners are looking for ways to pay their mortgage off early — and save themselves thousands of dollars in the process. There are several ways to go about this. Below, I’ll highlight each of them and explain when […]
There are a lot of great personal finance books out there to choose from but only some that can change the way you think. Below, CNBC Make It rounded up three money-related reads that come highly recommended from self-made millionaires, early retirees and super savers because these books were able to help reshape their mindsets about how to spend […]
Every month for more than 15 years, Lois Brayfield automatically contributed $100 to $200 to her sons’ 529 college savings plans. By 2018, one of her sons pointed out that she’d done more than rack up $110,000 of 529 savings — she’d given them a leg on which to stand. “He said, ‘Mom, I can’t […]
Many older workers sign up for Medicare Part A as soon as they turn 65, even if they’re still working and have insurance through their job. For most of them, Part A, which covers hospitalizations, doesn’t cost anything, and it may pay for expenses the employer plan doesn’t cover. But there is one caveat if […]
Andrew Biggs, American Enterprise Institute scholar (and fellow Forbes contributor) has a new article at the Washington Post, “State-run retirement plans are the wrong way to protect the poor,” in which he addresses the new auto-enrollment state-managed IRA plans. Five states are launching plans to automatically enroll employees, predominantly lower-income workers, in state-administered individual retirement […]
For most of us, retirement is a goal we hope will allow us to enjoy the fruits of previous sacrifices. While advance preparation clearly increases the likelihood that we can enjoy our “golden years,” there are many circumstances that dictate whether retirement is an opportunity or a burden. Most of us would also like to […]
Saving money is a little bit of an obsession of personal finance and early retirement bloggers. We fill the digital airwaves with wickedly creative “hacks” to save a buck or two with virtually everything we do. Like going out to eat. Or shopping in bulk. Or refusing warranties. Surely, saving money has something to do […]
Money can be a tense subject for couples, with topics such as debt, credit history and attitudes toward handling finances liable to lead to heated arguments. Spouses, who have promised to love and cherish each other, can turn into judgmental and cruel critics when their financial philosophies collide. Still, “most couples feel they are on […]
