The benefit of saving for retirement in a 401(k) versus an IRA is the fact that the former comes with a much higher annual contribution limit, no matter your age. Last year, 401(k) contributions were capped at $18,000 for workers under 50 and $24,000 for those 50 and over. This year, these limits went up […]
Everyone wants to have a financially secure retirement, but to get there, you’ll have to save and plan. Just getting started with a retirement savings strategy can be the hardest part of getting on the road to retiring richer. Once you’ve begun, though, there are some things you can do to make the journey a […]
When it comes to retirement savings, many nest eggs fall short. However, that doesn’t mean that you can’t retire as planned. In a trade-off between working longer or saving more, a recent report found that delaying retirement for just three to six months has the same impact as savings 1 percent more of your salary […]
As the government announces new rules to tackle childhood obesity, food blogger Jack Monroe says although the proposals are “well-intentioned” they are “problematic” for some, including those on a tight budget. Monroe – a single parent who has experienced living in poverty – says there are many complex reasons why cooking and eating healthily on […]
Being a freelancer certainly has its benefits, like the ability to manage your own schedule and be your own boss. On the flip side, it also means losing out on key workplace benefits like subsidized health insurance and paid time off. Just as importantly, it means not having access to an employer-sponsored 401(k) to propel […]
At 21, you’re a financial adult. But chances are you still don’t know what you don’t know. We asked personal finance experts and financial planners what newly minted adults need to know about money. Their bottom line: Be sure your balance sheet includes some joy, too. How to think about money *A job you love […]
Once again, there’s dire news about Social Security. Its trustees claim in their 2018 report that they must tap the program’s sacred “Trust Funds” to cover this year’s benefits. And they warn that the funds will be depleted by 2034, forcing steep benefit cuts, unless Congress fixes things. Scary. And wrong. Most Social Security fears […]
Not everyone needs a financial advisor. Sadly, the financial advice industry has become so confusing for investors to navigate, that many investors now need a college-level course on the subject just to figure out whether they should even consider working with an advisor. The result is that many individuals who actually could benefit from ongoing […]
The beauty of being a freelancer is getting to set your own hours and be your own boss. The downside, though, is giving up the stability that comes with being a salaried worker. In fact, many freelancers struggle to manage their money because they see huge fluctuations in income from one month to the next. […]
As things evolve at your company and responsibilities shift, there’s apt to come a time when you’ll need to fill your share of open positions. But for those higher-level roles, the question becomes: Do you promote from within or seek fresh talent outside of your organization? There are several benefits to hiring an outsider, such […]
Being “broke” can mean different things to you depending upon the stage of life you’re in. A college kid who views themselves as broke may have no money, but still have access to food and a roof over their head. To an adult, broke may mean that the cash available to them won’t cover their […]
With the kids out of school and long days of warm weather beckoning, taking a vacation might be on the minds of many. In fact, a record-breaking 46.9 million people are planning to travel at least 50 miles away from home this July 4 for Independence Day, according to AAA. That’s up 5 percent from […]
