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Here’s how much money you’ll have at retirement
if you start saving $500 a month in your 20s, 30s, or 40s Getty Images Retirement can feel like it’s a lifetime away, especially if you’re in your 20s or 30s. With decades left until you’re able to leave your day job behind, it can be difficult to prioritize...
Helpful Retirement Strategies for Women
Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from...
Four Really Good Reasons to Invest
Forty-four percent of Americans do not own any stocks or stock-related investments, according to a recent Gallup poll.1 Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the...
Silver Sneakers 101
Once you turn 65, the world of Medicare opens to you, and you also gain access to its offshoot supplemental programs. You likely know about Part A, Part B, Medicare Advantage, and other sections, but you may not know about the senior fitness offering “SilverSneakers.”...
15 Ways Consumers Can Deal With
—and Even Benefit From—Rising Inflation Among the tactics: calculate your personal inflation rate and buy the car you’re leasing There are things we can do to mitigate the impact of inflation on our wallets, budgets and investments. LARS LEETARU We are feeling the...
How fast does inflation cut buying power? Here’s a simple guide
KEY POINTS The so-called rule of 72 is a rule of thumb investors often use to gauge how quickly their money will double in value. The rule also works with inflation, but in reverse: It approximates the length of time for money to lose half its value. If April’s 8.3%...
Retiring soon with a pension?
Here’s how rising interest rates can affect your lump-sum benefits KEY POINTS Many companies that offer traditional pensions give workers the option to take their benefits as a lump sum instead of as an annuity. The higher the rate used to calculate a lump sum — to...
Here’s the type of insurance you’ll need at each stage of life, experts say
KEY POINTS Financial advisors weighed in on which types of insurance it’s appropriate to consider getting at each stage of life, from college years to retirement. Many said disability and life insurance were a good idea at any age. Getting married and starting a...
The age for required withdrawals from retirement accounts
could go higher. Here’s who would benefit KEY POINTS Required minimum distributions, or RMDs, are amounts that must be withdrawn annually from qualified retirement savings accounts. If the RMD age is raised to 75 from 72, it would provide more time to move assets...
62% of workers view 401(k) employer match as key to reaching retirement goals.
But they may wait years for those contributions to be their own KEY POINTS Vesting schedules — the length of time you must be at an employer for its 401(k) contributions to be 100% yours — can be as much as six years. The most common matching formula is 50 cents for...
Op-ed: Here’s what every woman needs to know about investing
KEY POINTS American women will control the lion’s share of $30 trillion in financial assets owned by baby boomers by 2030. As more women embrace their economic power, they’re increasingly tackling the fundamentals of personal finance. Here are five things savvy female...
Changing jobs? Don’t forget about your 401(k) plan
KEY POINTS You may have options for how to handle the retirement savings you accumulated at your former employer, depending on your situation. Sometimes, the decision is made for you if you don’t take action. Here are some tips for evaluating how to handle the 401(k)...