Jack Wang

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Surviving The Summer Wallet Drain

When summer hits, I am always thrilled about the warm weather and my kids being out of school, but my bank account and I cringe at the anticipated leakage. For years, I struggled to understand why I seemed to do so well with my budget from Jan-April, but from May-August, it felt like a black hole …

Trump’s Budget Could Eliminate Public-Service Loan Forgiveness. Here’s What to Know.

Budget documents obtained by <i>The Washington Post</i> paint a bleak picture for many federal education programs: The newspaper reported on Wednesday that …

There’s probably a big problem with your 401(K)—mysterious fees

Credit: mkasahara/Flickr<p>By Bob Ward, Chief Revenue Officer of Vertical Management Systems<p>Everyone in a retirement plan is writing a check. They just …

A pensions time bomb spells disaster for the US economy

Danielle DiMartino Booth is the tough talking former Federal Reserve advisor and President of Money Strong, with an insider's perspective on finance. As she picks apart the danger signs with the US on the precipice of recession, it's the impending pensions crisis that's really keeping her awake at …

Pensions

3 Big Changes To Credit Scores That Will Impact Your Wallet

This week, VantageScore Solutions announced the completion of VantageScore 4.0, its fourth-generation credit score. VantageScore, a rival to FICO, has experienced rapid growth and supplies the credit score used by most leading free credit score sites, including CreditKarma. Lenders are also …

Personal Finance

A Hail Mary retirement plan for those with nothing saved

You're rounding the corner toward retirement age with not nearly enough set aside.<p>We tell young people to start saving for retirement from their first job and not to quit, because even small sums can grow staggeringly large with enough decades of compound returns. But maybe you bumped along from …

10 Egregiously Bad Personal Finance Myths

Image source: Getty Images.<p>In a perfect world, everyone would have the necessary knowledge needed to make smart financial decisions. Unfortunately, we live in far from a perfect world, and personal finance mistakes often come far easier than smart decisions.<p>Hiding among the numerous money mistakes …

Why a mortgage that leaves room for retirement saving is a must-have

The cost of owning a house and starting a family just might be the lost opportunity to get a good head start on saving for retirement.<p>With the March 1 deadline for contributions to registered retirement savings plans just ahead, it's a good time to look at how to balance life's biggest financial …

College professor says: Let your kids choose their own major

Every semester, I see quite a few sad students in my college freshman English class at a large four-year university. They’re not bummed about a bad grade, or roommate problems; many of them are frustrated because they’re unhappy with their major. When I ask them why they’re studying medicine, …

Parenting

Most Americans Have No Savings But Loan The Government $200-300 Every Month

A recent Bankrate survey showed 66 million Americans have exactly zero dollars in savings to cover an emergency expense. This lack of savings is not confined to poor households, since a Federal Reserve study showed that 47 percent of all Americans would be unable to cover a surprise $400 expense. …

12 small lifestyle habits you can adopt to save more money

Do you drop $10 to $15 on fast-casual lunches every day? Are you quick to buy something you don't actually need? Do you make purchases to keep up with the same level of luxury your friends enjoy?<p>These seemingly small habits, and many more, could be keeping you from saving hundreds, even thousands, …

Personal Finance

How Americans Blow $1.7 Trillion in Retirement Savings

You’re traveling across the desert, feeling parched and looking dirty. You take a long drink of water from your canteen, then wash your face with the …

America's richest colleges, including Harvard University, Duke University and the University of Southern California, brace for budget hits as endowments stumble - St. Louis Business Journal

By Craig M. Douglas <br>– Director, Editorial Research & Analysis, The Business Journals,<p>Nov 28, 2016, 6:00am CST<b><br>Updated</b> Nov 28, 2016, 6:11am CST<p>It …

A Warning For Parents Who Think A Sports Scholarship Actually Covers College Costs

Your child concentrated on one sport from an early age, you spent a lot of money to give him or her the best coaches and biggest advantages, and you did it — you beat the odds, and your child is one of the 2 percent of high school athletes that got an offer to play competitively at a college that …

Why You Might Not Be As Prepared For Retirement As You Think

Are you worried about retirement? If so, you’re not alone. According to our research, only 22% of employees reported being on track last year and the actual state of retirement preparedness may even be worse. That’s because many people use retirement calculators to estimate whether they’re on …

Reading Your Employee Handbook Can Pay Off In A Big Way Before Retirement

There are a myriad of things that people must consider before they retire. They contemplate whether they will have enough money or not; if they’ll out live those fund; and whether they have their savings allocated correctly to name a few.<p>But many people don’t think about flipping through their …

Morningstar Free Smartpage | News

© Copyright 2018 Morningstar, Inc. All rights reserved. Please read our Terms of Use and Privacy Policy.<br>Quotes for NASDAQ are 15 minutes delayed. All …

Medical Debt Is Top Reason Consumers Hear From Collection Agencies

More people have health insurance than ever before, but many still struggle to pay for care.<p>A recently released report says medical debt is the No. 1 reason consumers reported being contacted by a collection agency. If efforts to overhaul the Affordable Care Act result in more people losing their …

When Should You Retire And What Is The Magic Retirement Savings Number?

As a professor of retirement income planning at The American College of Financial Services, I constantly receive questions about the best Social Security claiming strategy or the magic retirement savings number. It is really tempting to believe that there is a simple and quick answer to these types …

Can you truly afford to help your kids with college?

With student-loan debt at an all-time high, many parents are rushing to help foot the bill. But should they?<p>This question has been trending lately, …

Research: The Best Strategy for Paying Off Credit Card Debt

Many Americans struggle to pay down their credit card debts, a challenge exacerbated by the holidays when credit-card spending balloons. The Federal Reserve estimates that nearly half of U.S. households are unable to pay their credit card bills in full each month. These households owe more than …

Personal Finance

Think You'll Spend Less in Retirement? Here's Why You Might Be Wrong

Believe it or not, you might actually spend more.<p>Many financial experts agree that as a general rule, you'll need about 70% of your pre-retirement …

Retirement

7 Reasons Why You Are Drowning in Debt

Being 100% free of all your debt is a dream more than 30% of Americans people struggle with. Imagine being able to sleep a full night's sleep, with every single worry swiped from your mind.<p>Getting overwhelmed with debt have many repercussions. Aside from the emotional toll, debt could have a …

Personal Finance

The life of a millionaire: a comfortable one in retirement?

One million dollars will get you much less in 40 years, when college graduates entering the workforce today begin retiring.

Retirement

Want to Save Up? Here's What Works—And What Doesn't

You’ve heard it before: It’s crucial to have savings. But if you’re having trouble stashing your spare change, you’re in good company. In fact, according to a recent survey, 10 percent of people don’t save at all—and many more aren’t saving what they should.<p>Luckily for you, you can learn from their …

Personal Finance

Retirement Account Pioneers Regret What They Started

NPR's Ari Shapiro speaks with <i>Wall Street Journal</i> reporter Timothy Martin about why the creators of the retirement investment accounts known as the 401(k) worry about what they started.<p>Transcript<p>ARI SHAPIRO, HOST:<p>The 401(k) is the most common tool Americans use to save money for retirement, far more …

Beware of bad financial advice from friends and family

Why do people take bad financial advice from their friends and family? Because hearsay is easier than reality, said certified financial planner Vid …

Here are 60 ways to give back this holiday season in Boston | Boston.com | Boston.com

We’re entering a season focused on family, friends, and getting festive. But the season for gift giving is also the time for giving back.<p>Charities …

New England

For Some Seniors Without Housing, A Parking Lot Is Home

Marge Giaimo makes her way to a picnic table under the shadow of an oak tree. Santa Barbara's trees, like its oceans and mountains, are one thing she says she never tires of here. After losing her senior housing three years ago, this table is where she does her painting these days.<p>"I feel very …

Santa Barbara