Beware financial advice, especially when it comes from someone who stands to profit from the ideas they are giving you. That’s the story in a recent investigation into sales techniques that some brokers are using to get employees to rollover their 401k plans to IRAs. Individual retirement accounts offer a wider range of investments, but… Read More
FAQs on 401k (as reported by Emily Brandon on finance.yahoo.com)
401k retirement plans are employer sponsored investment accounts that allow workers to save money for retirement. How do they work? In short, they allow workers to designate a portion of each paycheck to be deposited into an investment account tax free. Since you don’t have to pay income taxes on the money you invest until… Read More
529 Accounts Grow (as reported by Anne Flaherty on news.yahoo.com)
Saving for college is difficult. That’s why most parents have the option of opening a 529 College Savings Account, which allows you to contribute and use money for college education free of taxes. And a recent report by the College Savings Plans Network shows us that the average size of these accounts has doubled since… Read More
Retirement Shortfalls (as reported by Kimberly Palmer on finance.yahoo.com)
Three in four Americans in the lowest income bracket could run out of retirement savings within the first ten years. Many others will run through their savings long before they die. Saving for a retirement is one of life’s biggest financial goals, so why do so many of us fall short? One reason might be… Read More
The Last Five Years (as reported by Kelly Campbell on news.finance.com)
Planning for retirement is a lifelong process, and in the years leading up to your retirement you can’t afford to take your eye off the prize. The last five years of your life before you retire can be the most important, as you prepare for the big day and the many years that will come… Read More
Simple Saving Techniques (as reported by Alexa Mason on moneyning.com)
Earn more than you spend. It’s personal finance rule number 1. But just because you know you should be saving money doesn’t make it any easier. There are some simple savings techniques that you can employ in order to make saving a reality. And in her article on Moneyning.com, Alexa Mason briefly outlines four of… Read More
Millenial Saving Trends (as reported by Melanie Hicken on money.cnn.com)
While they might not be saving as much as their parents did, Millenials started saving for retirement earlier. Perhaps because they came of age in the middle of the worst recession since the Great Depression, Millenials start putting money away for retirement at the age of 22 on average. And that’s good news for all… Read More
Real Estate Back in Favor (as reported by Jeff Macke on finance.yahoo.com)
We all remember a little more than five years ago when the housing market bubble popped, triggering one of the worst financial collapses since the Great Depression. But now, according to recent data, investors are falling back in love with the real estate market. A recent Gallup poll measuring investor preference for long term growth… Read More
Smarter Investment Strategies (as reported by Betterment on blog.mint.com)
Last year was a great year in the stock market. The S&P 500 was up about 27%. But that doesn’t mean everyone that invested made that much money. Some made much more, and some made much less. How can you make sure that you don’t miss out on big future gains? You can start by… Read More
Top 10 Retirement Ready States (as reported by MarketWatch on finance.yahoo.com)
The National Institute on Retirement Security recently released its annual report on retirement readiness, which measures states by their general retirement preparation status. The report looks at things like employee participation in retirement savings and investment accounts, anticipated retirement income, etc. Its findings were presented at the fifth annual retirement policy conference. The state that… Read More