I believe one very underappreciated risk for investors preparing for retirement is the concept of “sequence of returns.” Sequence of return risk is the danger that the timing of withdrawals from a retirement account will have a negative impact on the overall rate of return and ending portfolio value. If you happen to be in […]
The telecommuting worker seems to be inevitably the norm. The number of people telecommuting to work has doubled from 2018 relative to the beginning of the pandemic. About 63% of Americans work remotely occasionally, seasonally, part-time, or on a full-time basis. As of May 2020, more than 41.6% of all jobs in the United States […]
Life is full of unexpected surprises, and having a financial safety net in place is crucial to navigate through challenging times. An emergency fund acts as a financial cushion, providing stability and peace of mind during unforeseen circumstances. Let’s explore the importance of having an emergency fund and discuss how much money you should aim […]
Nobody wants to work until the day they die. We all want to get to a point where we can simply sit down, relax, and enjoy life. Consider adopting these smart financial habits to avoid a financial disaster during your golden years. Create a budget The first step to meeting your retirement target may be […]
For a happy and stress-free retirement you want a maxed-out portfolio with retirement funds, savings accounts, annuities, and other income streams. With that said, this is not something everybody can achieve in time. Many individuals start their retirement planning at a later stage in life. If you are one of these late bloomers, use the […]
Deciding between repaying debt repaying versus investing may seem impossible. Everyone’s financial situation is different and only you know from an emotional standpoint what might work best. Start with your budget. Balancing basic costs such as rent, utilities, transportation, and groceries is a necessary task, so you can understand how much money is going out […]
The tax advantages of a healthcare savings account are like those of a traditional IRA, a Roth IRA, or a 529 college savings plan. The account can be used like a checking account to pay for medical bills as they arise, as an investment account to grow funds for health care costs down the road, […]
Social Security is a government program, so it is unnecessarily complicated. Working or retired? Married or divorced or both? Disabled? Private or public employer? All these factors affect your Social Security benefits and options. The factor you can directly control, however, is the age you choose to claim your Social Security benefit after retiring. You […]
When trying to pay off student loans, there are a few ways to whittle down your balance. The more you pay toward your loans, the less you’ll owe, and the quicker your balance will vanish. Extra payments can help pay off student loans quicker, but refinancing may also be an option to pay off loans. […]
Getting out of debt is never easy. Especially, for those with low income, paying off debt can be a monumental challenge. The good news is that it is still possible to pay your debt off — even if you do not have plenty of money coming in. Here are five steps you can take to […]
