It’s common for parents to open savings accounts for their children at a young age. Whether they are meant to cover future education costs or just put funds away so that the child has a little money when they come of age, it’s a smart way to get kids started on the right track. A new… Read More
THE REAL REASONS AMERICANS AREN’T SAVING ENOUGH FOR RETIREMENT (AS REPORTED BY PENELOPE WANG OF FINANCE.YAHOO.COM)
The results of a recent retirement survey by the Transamerica Center for Retirement Studies are not a good sign for American workers. Though the majority of people are optimistic that they will have enough money stocked away for retirement, the average worker is far behind their target at this point. Americans are saving more than… Read More
SHOULD YOU BUY A HOME OR INVEST? (AS REPORTED BY HOLLY JOHNSON ON WWW.GETRICHSLOWLY.ORG)
One common question among those who are just starting their career and thinking about how to build wealth is this: Should I invest in the stock market or put a down payment on a house? Both are valid options for growing your money, as both real estate prices and the stock market consistently grow over… Read More
A PRIMER ON MUTUAL FUNDS (AS REPORTED BY WILLIAM COWIE ON WWW.GETRICHSLOWLY.ORG)
Making the decision to invest is an important step to growing your wealth. But investment options vary, and it’s important to know what investment vehicles are best for your personal situation. One common investment option for people just getting started in the market are mutual funds. Why? Mutual funds are actively managed by professionals, so… Read More
AVOID COMMON 529 SAVINGS MISTAKES (AS REPORTED BY MIRANDA MARQUIT ON WWW.MONEYNING.COM)
A 529 college savings account is a special kind of investment account that allows you to save for your child’s post-secondary education expenses. Because of its tax benefits, it is one of the best ways available for parents to put money away for their kids’ college education. The money can be used for a variety… Read More
OVERCOMING THE FEAR OF INVESTING (AS REPORTED BY WILLIAM COWIE ON WWW.GETRICHSLOWLY.ORG)
Fear is one of the primary reasons why people wait too long to start investing. They fear what they don’t understand, or think that they don’t have enough money to make it worthwhile. But the sooner you get started, the faster you’ll learn, and the more time you’ll give your money to work and grow… Read More
23 THINGS YOU WISH YOU DID WITH YOUR MONEY BEFORE TURNING 30 (VIA GENE GIANNOTTA OF BUSINESSPUNDIT.COM)
There seems to be a growing emphasis on the age of 30. Today’s youth is fixated on that number; the age at which true adulthood seemingly begins. For many, the start of a person’s fourth decade on the planet is marked by several key milestones. You might be in possession of a car, or a home. One… Read More
MOST TWENTY-SOMETHINGS ARE ACTUALLY SAVING FOR RETIREMENT (AS REPORTED BY KATIE LOBOSCO OF MONEY.CNN.COM)
For many young professionals, the prospect of retirement is a mere afterthought. Following the conclusion of one’s higher education, their immediate concerns seem to be tied mostly to securing employment and properly achieving balance in their own personal budget. At least, that is what the old convention appeared to be. Now it would seem as though planning… Read More
8 Savings Mistakes to Avoid (as reported by Mixey Rox of wisebread.com)
The truth is that everyone makes mistakes, but it’s important to check yourself before you wreck yourself when it comes to your cash. Even avid savers can make mistakes when it comes to funneling money away for a rainy day or a future investment. Because if it’s sitting in a modest growth plan, it’s not… Read More
Behind on retirement savings? Here are 3 ways to catch up (as reported by Walter Updegrave of money.cnn.com)
Generally, you should have six to nine times your salary tucked away in a 401(k) or other accounts by your mid-50’s to early 60’s to have a good shot at maintaining your standard of living in retirement. So you’re definitely short of where you ought to be. On the bright side, at least you know… Read More