Retirement

Here’s how much you need to save each month to become a millionaire in 20 years

If you start saving and investing early on, becoming a millionaire might not be as hard as you think.<p>If you're putting away $415 a month starting in …

Roth IRA

Why you could end up homeless in retirement

This article is reprinted by permission from NextAvenue.org.<p>Wanda Clarke of Los Angeles, 63, was so ashamed of being homeless that she never told her son, in nearby Orange County, that she was living on the streets. Clarke’s husband died and her cashier’s income fell short of covering the mortgage. …

Business

Don't Sign a Mortgage Until You Can Answer These 6 Questions

If you don't know these six basics, you could land yourself in hot water, financially speaking.<p>Are you getting ready to take out a mortgage? Before …

Retirement Planning

Retirement Savers Really Do Need Government Help

The Trump administration will let a rule to go into effect requiring financial advisers to put client interests first. But more needs to be done.<p>I have some good news and some bad news.<p>The good news is that the Department of Labor's fiduciary rule, which states that any broker or manager offering …

Retirement Planning

5 ways to start planning for retirement in your 50s

When you reach your 50s, retirement is no longer so far off. It's right around the corner, and there's no time to waste. Just as there are at every …

Retirement Planning

Seven Costly Financial Slip-Ups To Avoid In Your 30s

Although you’ve survived the tumultuous life of a twenty-something, and your life has likely become more stable, as a 30-year-old, you can face a peculiar set of financial problems.<p>Statistically, people often have children and buy their first homes during this time period, so your thirties and …

Retirement Planning

5 Ways I've Prepared Myself For Non-Retirement

I work, therefore I am. And that should be good enough.<p>I am 67 and continue to work full time. Believe it or not, this is by choice ― and I don’t believe that I’m alone in the decision to pursue non-retirement.<p>Lots of people approach retirement expecting that there will be some specific event to …

U.S. Census

Some Older Parents Are Missing Out on This Social Security Perk

You can collect extra benefits if you are retired with minor children.<p>Older parents, take note: If you have kids who won't graduate from high school …

Retirement Planning

Building A World-Class Retirement Portfolio

Options such as automatic enrollment, automatic contribution increases, and default investment in target-date funds are having a positive effect on …

Retirement Planning

3 Ways to Lose All of Your Money in the Stock Market

Investing doesn't have to be a losing proposition, but you can make it that way with these three strategies.<p>No one invests in the stock market to …

Retirement Planning

3 money moves that sound smart, but hide perils to your finances | Personal Finance

The odds of winning a lottery are infinitesimal. Yet inevitably, someone does. Inspired by the idea of a huge payoff, millions of people burn money …

Retirement Planning

3 Things Your Financial Advisor May Not Be Telling You

According to data from the Bureau of Labor Statistics, there are over 200,000 financial advisors in the U.S. When you’re looking at such a large group of people, there’s going to be a significant amount of variance. Some advisors may have a portfolio management background. Others may be CPAs, JDs …

Retirement Planning

Which States Have the Best College Savings Plan Deductions?

A popular method of saving for college is the 529 plan with forty-nine states and the District of Columbia offering at least one option. With a 529 …

Retirement Planning

Sales tax up but income tax down in state Senate's proposal

West Virginians would pay a higher sales tax next year, but their income tax rates would be reduced and might eventually be eliminated, under a bill …

Business

Retirement Planning for Clients Who Outlive Savings

In 2016 the World Bank estimated that the life expectancy of the average American is 79, up from 75 in 1995. In 2015 there were 72,000 …

Retirement Planning

Ask Larry: ​​​​​​Do I Need To Do Anything To Earn Delayed Retirement Credits?

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits.<p>Today’s column explains how delayed retirement credits are earned, whether divorced spousal benefits increase after FRA, spousal benefit availability and filing …

Social Security

A third of older Latinos have tapped into retirement savings

CHICAGO (AP) — Suddenly jobless and with small children to support, Jose Victor Camargo without hesitation cashed out a retirement account he had with his former employer.<p>That was more than a decade ago, and the father of three used the money to pay for rent and stay afloat until he found another …

Business

Will your pension savings last as long as your retirement?

How long do you expect to live in retirement? How long will your cash last? And what will you do if you out-live your money? The experts have warned …

Retirement Planning

A Retirement Checklist

What are your assumptions about retirement?<p>What gives you confidence and what gives you fear as you approach retirement?<p>How are you investing for …

Business

What's better than a Buffett rule? Labor's Buffett rule by stealth

The ALP policy of limiting deductions for managing tax affairs will go some way to limiting the ability of the very wealthy to avoid paying tax<p>At the moment the ALP is having a fight over the merits of a Buffett rule for income tax. It is a high-profile battle involving two former treasurers. What …

Retirement Planning

It Turns Out, Millennials Are Happiest With Their Health Benefits

They are also more likely to be actively engaged in choosing a plan.<p>Historically, employee health plans can be somewhat byzantine. But according to a recent study from the Employee Benefit Research Institute (EBRI), one group of workers is able to make these benefits work for them more than the …

Baby Boomers

Should I Buy or Lease a Car?

Do you know all the pros and cons of each option?<p>There are several factors to consider when deciding to buy or lease a car, as both options have …

Retirement Planning

How we could make the retirement system more sustainable

Our current retirement system is simply not sustainable, as our population ages and life expectancy increases. Australia incentivises people to …

One in three people who plan to retire in 2017 are still financially supporting family

More than a third of those planning to retire this year are still providing their families with financial support to the tune of nearly £260 a month, …

Business (UK)

Why The 4 Percent Safe Withdrawal Rate Might Be Too Conservative

The famous Trinity Study argued that a 4 percent withdrawal rate would allow retirees to enjoy a 30-year retirement.<p>The study assumed that 4 percent …

Retirement Planning

5 Key Tax Issues in the Sharing Economy

The sharing economy is taking the country by storm. The activities range from ride sharing to renting a spare room to crowdfunding and almost …

Sharing Economy

Wealthfront now helps users save up for their kids’ college tuition

Robo-advisor Wealthfront originally came to market with a product to automate retirement savings, but over time has expanded to provide other financial tools. Today, the company is announcing a new product aimed at helping parents save for their children’s college education.<p>Wealthfront’s college …

Tuition

San Diego DROP pensioners return for more city pay

San Diego has brought back hundreds of retired city employees in recent years to receive part-time paychecks on top of their pensions — and it turns …

San Diego

What the Federal Budget Does With Your Money

President Trump released a new draft budget yesterday—which means that your federal tax dollars <i>may</i> be going to different places. Let’s take a look at …

Lifestyle

Agency: Switching new teachers to 401(k) costs billions

Making newly hired teachers and other school employees ineligible for a pension and instead giving them a 401(k) would cost Michigan $465 million …

Business