There are a lot of reasons that financial experts have been raising the alarms lately about Americans’ lack of preparedness for retirement. Part of it has to do with the fact that several key retirement facts have changed in the last 20-50 years. Compared to 1960, we are living an average of nine years longer…. Read More
How Will Tax Reform Impact You? (as reported by Dan Caplinger on www.fool.com)
Not everyone has the time to pay attention to the policies being debated in Congress. But one debate going on right now has the potential to impact us all, and deserves the attention of anyone concerned about their future financial situation. Both the Senate and the House of Representatives have put forth their initial tax… Read More
Student Loan Debt (as reported by Rod Griffin on www.wisebread.com)
Americans are in debt. There is no avoiding that in the news these days. We spend money we don’t have on everything from groceries and medical expenses, to our cars, homes, and education. That last one has been a particular point of emphasis in the last few years, as politicians and policy experts across the… Read More
Being Honest About Incomes (as reported by Kathryn Vasel on money.cnn.com)
If someone were to ask you how much money you make, what you would say? Would you tell them honestly? Would you lie? Or would you tell them to take a hike? More and more, Americans are becoming comfortable talking honestly about how much they make. Millennial workers, those between the ages of 18 and… Read More
Big Paychecks Don’t Guarantee Success (as reported by Holly Johnson on www.thesimpledollar.com)
The two sides of the equation for how to grow your wealth that we always talk about are: Make more money Spend less money Often, we take aim at the first goal. But a bigger paycheck does not necessarily set you up for financial success. And it’s important that we understand the reasons why so… Read More
Save at Least 15% of Your Income (as reported by Kathryn Vasel on money.cnn.com)
We know that we need to save more. The standard piece of advice from financial professionals is that in order to put ourselves in a strong financial position, we should be saving at least 15% of our income. Sound like a lot? You’re not alone. According to recent estimates, only about one in seven Americans… Read More
Roth IRAs and Roth 401k Plans (as reported by John Wasik on www.forbes.com)
Roth IRAs and Roth 401k plans are similar to traditional IRAs or 401k plans with one major exception. Whereas the money invested in a traditional IRA or 401k is taxed when you withdraw it in retirement, the money invested in a Roth IRA or 401k is not. Instead, the money is taxed up front. There… Read More
Beware the Zero Interest Credit Card (as reported by Brock on www.cleverdude.com)
For people who struggle with debt, zero percent interest credit cards can seem like a worthwhile offer. Why not transfer that debt to a card and pay no interest? Not so fast. Credit card companies are not interested in saving you money. They are looking to make money too, so be weary of offers that… Read More
Student Loan Payments as an Employee Benefit (as reported by Katie Lobosco on money.cnn.com)
There is a new employee benefit being offered in a growing number of companies that has attracted the attention of many workers. Because of the growing concern over student debt in this country, some employers see an opportunity to recruit and retain young, promising workers by offering loan repayment assistance. One example is PricewaterhouseCoopers, which… Read More
Common Financial Mistakes We All Make (as reported by www.investopedia.com)
We all make mistakes, even when it comes to managing our money. Few of us can be expected to go our entire adult lives without misspending, or making a shoddy investment decision, or failing to save in case of an emergency. With all the potential hazards that exist, having a perfect record on personal finance… Read More