Being
elderly in America has more than its share of issues—affording proper
healthcare, being forced to work much longer because of the need for health
insurance or not having saved enough for retirement. Now, throw one more financial
demon into the mix. More and more elders are being forced into bankruptcy.
In 1991, elder...
Since the Roth IRA was created by the Taxpayer Relief Act of 1997, it’ been an appealing addition to retirement planning. While contributions to a Roth are not tax-deductible, the trade-off is tax-free and penalty-free withdrawals after you cross the age of 59 ½. The withdrawal benefit is one...
Maybe
it’s your dream—accumulate enough money to retire early and live happily ever
after. You never have to work again and can do whatever you want whenever you
want. That’s the basis of the FIRE Movement—Financial Independence, Retire
Early.
There’s
lots of chatter all over social media about FIRE. Conversation threads run
deep. Online communities search...
By Amanda Augustine
Searching for a new job is challenging, regardless of how old you are. However, if you are 50 or older, you may face some additional hurdles.
According to a recent
study by AARP, 76 percent of older
workers blame age discrimination for their lack of confidence in finding a new
job....
I owe, I owe, so off to work I go! Everyone wants to be debt-free, but only a small percentage of us ever achieve that coveted status. According to the Experian credit reporting agency, Americans owe $13.3 trillion. Of that, $4.1 trillion is credit card debt. Discover Card breaks...
No matter your belief structure, or whether you’re reluctant to admit your own mortality, it’s a fact that none of us will live forever. And since no one knows if their demise will happen quickly or be proceeded by a lengthy illness, it’s good to be as prepared as...
Well it's that time of year again. Time to make your New Year's resolutions and get things back on track. January is as good a month as any to get started on a more disciplined and fulfilling path. Getting physically and fiscally fit both require similar approaches. You need...
Last week, Morningstar published a report on the use of 529 accounts for college savings. It found that only 16% of families with young children are using 529 plans. While this number is not necessarily shocking, it is unfortunate that families are leaving money on the table. Morningstar’s report,...
Morningstar
Last week, Morningstar named the best 529 college savings plans for 2018. College savings plans are without a doubt the best vehicle to save for education. These plans allow investors to skip federal taxes on investment growth to pay for college and its associated costs. For many investors, that means...