Retirement has finally arrived. You’re ready to start drawing on your retirement income sources. Enjoy this new phase of your life.
Unfortunately, you haven’t been able to retire from taxes – and your taxes will enter a new phase as well. You don’t have an employer to hold out taxes on your salary anymore. You’re
Investing & Retiring
Do you have enough cash to handle an unexpected emergency expense? According to a new survey from Bankrate.com, a significant number of Americans don’t have an emergency savings fund – and don’t see the lack of one as a problem.
Bankrate found that almost one in four respondents has no emergency fund at all, and
How Low Can It Go? According to economic theory, low unemployment will lead to rising wages as employers compete for the small pool of qualified workers. Unemployment in America hit a historically low 3.8% in May 2018. Aside from a one-month dip to 3.8% in April 2000, the unemployment rate hasn’t been 3.8% or below
Prefer using debit cards over credit cards, but miss earning rewards? Some debit cards offer cash-back rewards – either as a straight points-based redemption program or as a perks-based program directed at purchases with specific merchants. You may have debit card cash-back benefits through a perks-based program and not even realize it.
Cardlytics is
Do you plan to relocate when you retire? If so, where would you like to go?
It’s easy to rattle off a favorite vacation destination as your preferred retirement location, but it’s far different when you are visiting a location instead of living there. Try keeping an open mind and evaluating multiple retirement locations and
Your kids are growing up fast. Soon, it will be time to have … the talk.
No, not that one. We’re referring to the talk about responsible use of credit. If you don’t drive home the importance of good credit practices while your children are young, they’re more likely to learn about credit the hard
Does your IRA or 401(k) contain mostly actively managed funds or index funds? Do you know the difference between those two funds? Do you even know what’s in your IRA or 401(k) at all? If any of those three questions give you pause, it’s probably time to review your retirement account and think about whether
Do you have a financial plan? A real, written plan with goals, targets, and timelines, not just “I plan to stay out of debt this year”? If you have no such plan, you have plenty of company.
According to Charles Schwab, only 25% of Americans have a written financial plan. The good news: Schwab’s 2018
By Eric Olsen, Executive Director HELPS Nonprofit Law Firm
Affordable transportation is often a concern for senior citizens. Some seniors go without basics to make car payments they can’t afford for a car with little or no equity. Others need affordable replacement transportation but don’t have the income to finance a car. What are
Let’s say you’re tempted to make a withdrawal from your 401(k) plan to pay off some debts. You can always catch up by paying that money back into your retirement savings later, right? Unfortunately, it doesn’t work that way. Don’t rob your future to pay for your past! Watch Bankrate.com Senior VP and Chief Analyst
Affordable Housing? What Affordable Housing? Affordable housing is increasingly hard to find in today’s market. According to data from Trulia, America’s inventory of starter homes has decreased by almost half compared to six years ago while prices rose by almost 58%.
As consumers recovered from the housing crisis and Great Recession, more people became financially
Father’s Day is coming up on June 17th. What can you get Dad to celebrate his special day without loading up the credit cards? Sometimes simpler gifts are the best. Simpler gifts may also be your only option if you are young and short on cash, or if your credit is not up to scratch
Father’s Day will be here soon. Have you picked up anything for Dad yet?
You probably will, if statistics count for anything. In 2017, spending on Father’s Day will account for an estimated $15.5 billion in sales, according to the National Retail Federation (NRF). That’s a pretty impressive number – not in the league with
It takes solid planning and fiscal discipline during your working years to enjoy a financially comfortable retirement. But how can you properly plan if you don’t really understand how to manage your money to maximize retirement benefits? Even if you pay a financial advisor to assist, in the end, the decisions are still yours to
You’ve made some life decisions that you’ve regretted, and some of those decisions surely involve money. What sort of money mistakes have you made?
Don’t be shy about admitting your financial mistakes. According to the latest version of Finder.com’s annual America’s Biggest Money Mistakes survey, you have 192 million fellow Americans to keep you company.
How do you plan to fund your children’s education? According to the 2017 Report from Sallie Mae, How America Pays for College, you are probably counting on scholarships and grants.
Sallie Mae finds that reliance on scholarships/grants is the highest in a decade, while college savings is on the decline. Savings covers less than one-quarter
How’s your retirement plan holding up? If you are a woman, you’re probably having more difficulty with retirement plans than your male counterparts.
Despite advances, women still face lower average salaries – 82% of the average man’s salary, according to the Pew Research Center. Fewer working years on average, often due to time off for
Are you counting on Social Security for most of your retirement funds – and if so, how comfortable are you that the funds will be there at retirement? According to the recent Transamerica Retirement Survey of Workers, you probably aren’t comfortable at all.
A surprising 76% of survey respondents are concerned that Social Security won’t
Are you planning to work in retirement? If so, is it because you need money? The recent American Working Conditions Survey (AWCS) from the Rand Corporation think tank suggests another reason – you want to be there.
A Rand brief on the AWCS survey compared working conditions and expectations of older workers (age 50+) to
We know the stereotype of the unmotivated millennial, living at home with their parents without any long-term plan or concern about their situation. Is that a fair representation? Do millennials disproportionately live with their parents? If so, is this from necessity, lack of motivation, or part of a grander strategy?
It’s logical that younger generations
Women often face greater financial challenges than men in retirement. Lower average salaries and fewer working years make it difficult for women to achieve suitable nest eggs. Results from the recent Transamerica Retirement Survey of American Workers highlight the anxieties that women face.
Sadly, only 12% of women are “very confident” in expecting a comfortable
Who’s thinking about retirement when they’re young? Retirement accounts are typically not a priority for young workers – but they should be. That’s precisely the time to take the greatest advantage of compounding interest by contributing as much as your fledgling budget can afford.
A new study from the University of Missouri suggests that millennials,
Let’s face it: Americans are woefully unprepared for retirement. Surveys consistently tell us that far too many workers have insufficient retirement funds or even absolutely nothing saved for retirement at all. Sadly, these workers will be too dependent on Social Security benefits to have a comfortable retirement.
Many of these workers will claim benefits before
Confidence Without Reason Is the rising stock market giving workers confidence that they will have enough money to live comfortably in their retirement years?
The 28th Annual Retirement Confidence Survey conducted by the Employee Benefit Research Institute (EBRI) shows a slight increase in the number of respondents that are very confident or somewhat confident in
It’s time to honor that special woman in your life. Mother’s Day is approaching, and whether you are buying for your mother, your wife, or both, consider some inexpensive alternatives or ways to save money on classic Mother’s Day gifts.
Flowers – Flowers are a popular Mother’s Day present, but you don’t necessarily have to
Who would turn down free money? According to the Motley Fool, approximately 20% of workers with matching 401(k) retirement plans are effectively dismissing free money by making a significant mistake with their contributions.
Approximately three-quarters of companies with 401(k) plans offer a matching program where the employer contributes an equal amount to the employee’s contribution
How’s your 401(k) or IRA doing? A typical 401(k) plan returns from 5% to 8% based on a portfolio of 60% stocks and 40% bonds and other conservative investments. If your retirement plan is not meeting expectations, you may be tempted by the high returns of cryptocurrencies like Bitcoin – but should you be wary
What happens to your employer-based 401(k) account when you leave a job? That’s for you to decide – and if you make no decision, you may end up losing hard-earned benefits.
A recent study by the Government Accountability Office (GAO) found that over the ten-year period from the beginning of 2004 through 2013, more than
Have we bridged the gender gap when it comes to household roles, domestic duties, and career choices? Not entirely – but a new survey suggests that women are leading the way in closing the gap and preparing the next generation of men and women to continue the fight.
According to the YouGov survey Women’s Voices:
April is National Social Security Month! Your Social Security Number (SSN) may be your most important piece of identification – yet it’s likely that you never carry your Social Security card with you. You probably committed your number to memory long ago because it’s required in so many places.
Generally, you won’t need to produce
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