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Cleaning out a home is a major undertaking. The sheer amount of stuff can be overwhelming. Whether you’re moving to a smaller place in retirement — or helping your siblings clean out the family home after your parents pass away — the process is never easy. You might be up against a tight deadline because […]
How to Clean Out a Home: What to Keep, Sell, Donate and Toss Read More »
As of May last year, there were an estimated $24.3 million forgotten or left behind 401(k)s, according to a study conducted by Capitalize, totaling to $1.35 trillion in abandoned assets. Life happens in chapters. And sometimes, a new chapter involves getting a new job or losing your current one. There can also be some cliffhangers
Leaving your old job? Initiate a 401K rollover Read More »
Self-directed IRAs offer flexibility to enjoy tax benefits while investing in alternative assets such as real estate and franchises. But they come with significant restrictions and cumbersome administrative hurdles. Learn more about self-directed IRAs and their pros, cons, and limitations. The post Self-Directed IRA (SDIRA) – What This Retirement Plan Is & How It Works
Self-Directed IRA (SDIRA) – What This Retirement Plan Is & How It Works Read More »
If you receive Social Security Disability Insurance (SSDI), you’ve probably worried at some point about losing benefits. After all, the application process is notoriously long and cumbersome. If you’re nearing retirement age, those fears may become more pronounced. So what exactly happens to your SSDI when you reach retirement age? The good news is that
Does SSDI Stop When You Become Eligible for Social Security? Read More »
Are you trying to determine your level of financial satisfaction or dissatisfaction? After all, if you’re more satisfied financially, you should also be happier and less stressed. Good news! The FS Wealth Reality Ratio (FSWRR) will help you quantify your feelings and reveal the unhappiest cities in America! The core attribute about the FS Wealth
The Unhappiest Cities In America Based On A New Wealth Reality Ratio Read More »
It’s never too early to start saving for retirement. An Individual Retirement Account (IRA) could help you build your nest egg; it’s a tax-advantaged investment account designed for long-term savings. If you’re debating between a Roth IRA vs. traditional IRA, the two most common types, you’ll want to consider the pros and cons of each.
Roth IRA vs. Traditional IRA: Which Is the Better Choice for You? Read More »
Everybody wants to be considered wealthy. But how big of a net worth is required to be considered wealthy in some of the biggest cities in America? Charles Schwab’s annual Modern Wealth Survey shares its insights for 2022. In the U.S. overall, the survey says it takes a net worth of $2.2 million to be
Net Worth Required To Be Considered Wealthy In Various Cities Read More »
It’s a sad fact, but we’re all mortal and one day we will all die. This is true whether we have retired or not and there’s a 100% chance of that happening. According to Vanguard, over 25% of all Americans have a 401k plan. This means 1 out of every 4 Americans will be forced
What Happens to Your 401k When you Die? Read More »
Vanguard Digital Advisor is a low-cost robo-advisor for long-term investors who want to own broadly diversified portfolios. It’s a solid, inexpensive, beginner-friendly option. Learn about Vanguard Digital Advisor, its key features, and its pros and cons to determine whether it’s right for you The post Vanguard Digital Advisor Review – Key Features, Pros and Cons
Vanguard Digital Advisor Review – Key Features, Pros and Cons Read More »
Dear Penny, I am 75, and my husband is 83. I have been paying on my student loans for 16 years and the balance has gone from $200,000 to $235,000. I am on an income-driven repayment plan and work primarily to pay my loans. My IDR payment is $1,056 as of today. I also draw
Dear Penny: I’m 75 With $235K of Student Loans. Should I Default? Read More »
You certainly can! The IRS actually allows for multiple IRA accounts. This could be multiple Roth IRA’s or multiple Traditional IRA’s. There are benefits and disadvantages of owning multiple IRAs that you should be aware of before making a decision. Why You Need to Save For Retirement According to a recent study, nearly 50% of
Can You Have Multiple IRA (Traditional or Roth) Accounts? Read More »
Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners. Maybe you’ve thought about getting life insurance to protect your family in case something happens to you. But you haven’t gotten around to it because
Amplify Insurance Gets You the Life Insurance that Wealthy People Get Read More »
You probably know that saving and investing are essential to retirement planning. But just as important to the equation: Social Security planning. It’s impossible to overstate the importance of Social Security to retirees. The truth is, Americans aren’t saving or investing enough for a secure retirement. Without Social Security, approximately 4 out of 10 people
How Does Social Security Work? 12 Common Questions Answered Read More »
In February 2012, I decided to negotiate a severance to break free from corporate life. By mid-June 2012, I had received a severance check and the last of my three months of WARN Act pay. Ten years of fake retirement later, I want to share with you some of my biggest takeaways. Overall, it’s been
10 Years Of Fake Retirement Later: The Most Important Takeaways Read More »
One of the very best investment vehicles to prepare for retirement is a Roth IRA. It gives you an opportunity to provide tax-free income once you retire. But a Roth IRA itself is not an investment. That’s why it’s important to know the best investments for a Roth IRA in 2022. The table below summarizes
5 Best Investments for Roth IRA in 2022 Read More »
Just because you opened a 401(k) with one employer doesn’t mean you have to leave your money there after you leave the company. You can roll over your retirement savings from one employer-sponsored account to another, or to an individual retirement account (IRA). Learn how to roll over a 401(k). The post 401(k) Rollover –
401(k) Rollover – What It Is & How to Transfer Your Retirement Account Read More »
Jason Heath: Those approaching retirement can consider these strategies to shave time off their financial independence date https://financialpost.com/personal-finance/retirement/heres-how-to-accelerate-your-retirement-timeline-without-taking-on-too-much-risk #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Here’s how to accelerate your retirement timeline, without taking on too much risk Read More »
Dear Penny, I’ve been separated for more than 10 years after a 30-plus-year marriage. The past 10 years, I’ve supported the family home, paid off all outstanding bills and paid off the credit card debt of over $15,000. I also sold the family home last year and split the proceeds equally. Before selling the home,
Dear Penny: Will I Owe My Husband Alimony if We Separated 10 Years Ago? Read More »
Target-date funds are retirement accounts that choose investments for you based on your expected retirement age. As you get closer to retirement, target-date funds will automatically shift your asset allocation away from high-risk securities toward a more conservative asset mix. Target-date funds rebalance themselves, allowing the investor to take a more hands-off approach to retirement
What Are Target-Date Funds? Read More »
Social Security disability benefits can help you keep a roof over your head and food on the table when you become disabled due to an injury, an illness, or a severe medical condition. That said, applying for these benefits can be a cumbersome process, mostly due to the various steps involved, the complicated paperwork required,
Social Security Disability Benefits + Application Guide Read More »
