Having worked hard all your adult life to save money and create a nest egg for your retirement years, you cannot afford to fall into a trap that could wipe out your hard-earned savings. Apart from watching your nest egg, pay careful attention these eight potential expense items, losses and mistakes that could erode your […]
Many retirees assume that once they start collecting Social Security the benefit is set in stone, a fixed number that shows up every month no matter what else they’re doing. So they take on part-time work, or pick up consulting clients, or go back to a job they love without giving it a second thought. […]
Even if you are not close to retirement, many investors be looking closely at dividend-producing assets. There are many, including real estate in the form of REITs, dividend stocks and certain closed-end funds (CEFs) and exchange-traded funds (ETFs). While each has its benefits and drawbacks, all are able to produce income. You may think that […]
Bill Gates, currently the second-wealthiest individual in the world, says that his extreme wealth is hard proof that the economy is not fair. Gates’s net worth is estimated to be just short of $109 billion. In a blog post, Gates wrote, “The distance between top and bottom incomes in the United States is much greater than […]
Many people ruin their lives by gambling or by taking on too much personal, credit card, or bank debt. But one of the most unmanageable types of debt you may encounter in life is medical debt. It doesn’t matter if you are young or elderly, all types of Americans are struggling with medical debt. Collectively, […]
It is more likely than not that you may end up working at least part-time in your retirement. All of us are not going to be able to live out the idealized version of retirement that we see in popular media. Most Americans are woefully unprepared financially for retirement. So, can working part-time negatively affect […]
After years of hard work and retirement, you have noticed that your retirement plan income will be subject to taxation. Retirees can extend the life of their savings, however, by moving to an area where taxes are lower. It is advantageous to pay fewer taxes, mainly if one is on a fixed income. Retirees can […]
In October 2019, the American unemployment rate hit 3.6%. It hadn’t been that low in five decades. It’s the same today, as of January 2020, but it was a touch lower in the months between October and January, down to as low as 3.5%. Still, the devil is in the details when it comes to […]
A luxury for most everyday people is a spa day retreat, designer dinner plates, maybe building a man cave or a she shed retreat. When it comes to the 1%, well, they treat everyday items in a way that may seem like luxury to the rest of us. Here are six everyday items for rich […]
Do you want to retire rich at age 65? What about 55? According to Carrie Schwab-Pomerantz, senior vice-president at Charles Schwab & Co., you will need 25 times the amount you expect to withdraw from your savings each year. That means that you will need to have $1,000,000 to be able to withdraw $40,000 per […]
