With the holidays right around the corner and the end of the year fast approaching, the last thing you want to do is blow your budget on fall activities. Between fall sports, Halloween, and fall travel, the costs add up…and it’s too easy to overspend. If you aren’t careful, you might miss out on your… Continue reading 16 Budget-Friendly Fall Activities for Families
As we approach the final quarter, it’s time to talk about financial risks that could significantly cost you. Let’s say you’ve made a financial goal for 2024. If you aren’t paying attention, you may miss that goal because you have to pay more in taxes than expected. Or you may be really close to having… Continue reading 5 Financial Risks to Plan for Now before Year-End
Americans are not saving enough for retirement. In a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute for Retirement Security shares, “Most Americans will not have enough money for a financially secure retirement. […] NIRS research found that for Generation X, a generation that is quickly approaching retirement and the first that… Continue reading Your Retirement: Don’t Be Another Statistic
In the ever-evolving landscape of data security, the recent and alarming cyber crisis has left millions of Americans reeling. This particular data breach included PII (personal identifiable information), including Social Security numbers of almost 3 billion people. In response to this data breach, New York Rep. Ritchie Torres said: “When it comes to cyberspace, there… Continue reading National Public Data Breach: What You Need to Know
Given the increase in the cost of retirement, it’s no wonder many are worried they are behind on 401(k) savings. According to the Northwestern Mutual 2024 Planning & Progress Study, “American adults say on average they now need $1.46 million to retire. That’s 15% higher than a year earlier and a 50% increase since 2020.”¹… Continue reading What to Do If You’re Behind on 401(k) Savings
Early 401(k) withdrawals are soaring. According to the Vanguard Group, “A record-breaking number of Americans are making emergency withdrawals from their 401(k) retirement plans in order to cover a financial hardship amid the ongoing inflation crisis.”¹ Approximately 3.6% of workers participating in employer-sponsored 401(k) plans made early 401(k) withdrawals in 2023, higher than the 2.8%… Continue reading Why Early 401(k) Withdrawals May Derail Your Retirement
It is natural for a parent to want to help their children financially, but helping kids financially isn’t always the best decision. You may end up hurting them more than helping them – especially if you dip into your retirement savings. While it is understandable to want to help, the amount of financial help adult… Continue reading Help Yourself First Before Helping Kids Financially
Saving for your financial future requires more than the bare minimum. Given the cost of today’s retirement, it’s worth doing what you can now to maximize your 401(k) contributions. Why 401(k) Contributions Are Essential for Retirement Retiring isn’t cheap. Once you stop working, you are still expected to pay the bills. And they can add… Continue reading Strategies to Maximize Your 401(k) Contributions
Despite a brief 6% correction in the latter part of the first quarter, the stock market has shown resilience and growth in the first half of 2024. Keep reading for factors contributing to this and what you need to know. Federal Reserve’s Stance on Interest Rates The market’s performance has been driven by the anticipation… Continue reading What Investors Need to Know for the Second Half of 2024
Women are saving less for retirement than men – and not just by a little. Prudential’s 2024 Pulse of the American Retiree survey found, “Across all age groups, women are particularly vulnerable, with less than a third the median savings of men. They are nearly three times as likely to delay retirement due to caregiving… Continue reading Women Are Saving Less for Retirement but Living Longer
