Investing & Retiring

Hey, We Agree On Something It’s difficult to get a bill passed on a bipartisan basis in the current Congress, but the latest retirement bill is one of those rarities. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is designed to give Americans greater access to retirement funds while making it easier to
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“Attention, employers. This is Denise. She’s just entering the working world, but she’s already concerned about retirement. She knows that traditional defined benefit pensions covered 84.4% of workers in 1979 but only covered 27.7% as of 2015 – and the share probably hasn’t been increasing. She expects you to offer a 401(k) or similar defined
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Mistakes are part of the human condition; it’s impossible to avoid them 100% of the time. But financial mistakes are in a class all their own — they tend to have a snowball effect and get worse over time. A seemingly small money mistake in your twenties can have outsized consequences in your thirties, forties,
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Do as I say, not as I do. Do you ever fall into that trap? New research from Debt.com suggests that you might have that attitude when it comes to budgets. Debt.com recently surveyed the budgeting habits and attitudes of Americans and found a wide discrepancy in following through on budgeting beliefs. A huge majority
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Beware of Credit Score Inflation America’s credit scores have improved along with the improving economy. Compared to 2006, there are approximately fifteen million fewer Americans with credit scores below 660 and a corresponding increase of fifteen million Americans with scores greater than 740. That’s good news, with a potential downside. Federal Reserve research suggests that
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You don’t have any financial issues to hide from your partner … do you? According to a new survey from CreditCards.com, almost 1 in 5 of us does. The survey found that 19% of Americans have at least one financial account that they hide from their spouse or live-in partner – either banking or credit
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By Sandra Parsons Debt is a major barrier to financial well-being among Americans. While we tend to think of debt as an issue affecting young and middle-aged people, the truth is that senior citizens carry debt, too. Among seniors approaching retirement, debt can be an obstacle to maximizing savings. Retirees living on a reduced income
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Survey Suggests Economic Overconfidence If the economy is so great and unemployment is so low, why do so many Americans live paycheck to paycheck? And why don’t we seem to care? The February PYMNTS.com Financial Invisibles Report attempts to answer these questions, noting, “For three consecutive quarters, consumers have been optimistic about their financial futures
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Valentine’s Day may be one of the few times per year that you go out and buy fresh flowers, but that is no excuse for rookie mistakes. The gift of flowers is a reminder that you are thinking of someone and February 14 is an excellent opportunity to send this message. Make that gesture count
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By Amy Beardsley You are given the option of “debit or credit” when making purchases with your debit card. As it turns out, there’s a lot more to consider before swiping your debit card to pay for that next purchase. Although debit cards may look like credit cards, they don’t function like credit cards. When
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The Shutdown’s Housing Market Woes It’s a great time to buy a home, and you’re ready. You’ve saved up a suitable down payment, found a home, and settled on a lender. As an added bonus, interest rates are at their lowest point in the last nine months – despite the Federal Reserve’s interest rate hikes.
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Your Christmas gift from the Federal Reserve is here. Surprise! It’s another 0.25% hike in the Federal Funds rate. Sure, you’ve already gotten this same gift three other times in 2018, and nine times since late 2015 – but what else would you expect to receive from the Fed? Interest rate hikes from the Fed
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A good 401(k) plan can be an attractive selling point for businesses looking to hire the best and brightest. However, smaller businesses may have a hard time establishing a 401(k) plan capable of competing for the attention of potential employees. Few small businesses have the resources to carry out 401(k) administrative tasks, and the smaller
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Are you finding it difficult to open a new bank account due to a previous mismanaged account? Your bridges with your bank may not have burned down completely. Get back into your bank’s good graces with a second chance checking account. Fresh Start, Second Chance Checking Account According to an FDIC National Survey, as of
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You’ve kept your will updated regularly to make sure your assets are distributed according to your wishes upon death. Have you done the same thing with your beneficiary designations? If not, your wishes may not be carried out as you expect. A will covers the destination of most assets upon your death. However, assets that
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Does your wallet take a bigger hit during the holiday season? If so, you aren’t alone. According to a recent study by LendingTree, more consumers fall behind on their bills in December than in any other month. LendingTree reviewed anonymized credit report data from October 2017 through September 2018 and broke down the percentages of
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Many people are reconsidering their budget to prevent holiday overspending over the next few months. If you are one of these people, good for you – but why stop there? This is a great time to look further ahead and tackle your 2019 budget. Lay out your calendar, spreadsheet, or whatever method you use and
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Our prior article, 5 Steps To Be Your Own Mogul – Part 1, covers the first three steps to manage your finances like a business. Below we present the final two steps. 4. Forecasting If you have performed the budget exercise and broken your expenses out into categories, you can start to highlight areas
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Why not take some financial pointers from the business world and apply them to your personal finances? Whether you are a party of one or a family of four, it pays to be fiscally agile. Some of the longest financial plays in the business world today are small businesses that perennially stay afloat and drive
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Christmas Shipping Can Still Be Free Are you a procrastinator who hasn’t started your holiday shopping yet? If not, are you still hunting for deals even after Black Friday, Small Business Saturday, Cyber Monday and Green Monday? In any case, you still want to take advantage of online bargains and free shipping offers. You’re in
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You’ve overspent during past holiday seasons, but you’re determined not to let it happen this year. What’s your plan to prevent painful post-holiday bills? A new study from Elevate’s Center for the New Middle Class (CNMC) may be able to help. The study focused on holiday spending behavior and how it varies depending on credit
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