Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals.
There's no doubt about it—owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you're buying one for the first time. Fortunately, knowing what to expect can make it a lot easier.
If you’re close to or in retirement, recent inflation has likely been unnerving, particularly given that stock markets have experienced significant volatility since early 2022. That is, you’re looking at higher prices while parts of your portfolio have lost value and your purchasing power has slipped. So, how should you respond to protect your retirement goals? When it comes to investing, the best strategy generally is to…
If you’ve accumulated more credit card debt than you can pay off in a few months, how can you quickly eliminate that debt while minimizing your interest payments? The particular strategy you should follow will depend on many factors…
The bulk of Social Security benefits go to retirees, but Social Security is much more than a retirement program. Most Americans are protected by the Old-Age, Survivors, and Disability Insurance (OASDI) program — the official name of Social Security — throughout their lives.
With spring in the air, now is a popular time to organize and declutter. But if you’re making a list of items for your kids or grandkids to pick up, you might want to establish a backup plan.
Talking to kids about money can be awkward, but it’s important. That’s the takeaway from a recent T. Rowe Price survey, which showed that parents consider topics like death and politics easier to discuss with kids than saving for a goal. A full 85% wanted to avoid the issue by signing their kid up for a personal finance course.
Most of my childhood was spent barefoot, running around, making mud pies, riding bikes, and rollerblading up and down our street with the salty ocean breeze until the streetlights came on. For much of my life, I lived in New Jersey; just three miles from the beach. My summers were spent adorned with sunburned shoulders and cheeks (I can still hear my dad yelling at me to put on sunscreen), enjoying day trips to the beach, rides on the boardwalk, and eating ice cream cones and THE BEST pizza. I’m a Jersey girl through and through.
Many individuals who are saving for retirement aim to have at least $1 million in their retirement accounts when they exit the workforce. But retirement savings aren’t a one-size-fits-all matter. Instead, the amount you’ll need depends on a variety of factors, including your lifestyle, specific financial obligations, future plans, and health needs.
If you and your spouse are looking for a way to build your retirement savings but one of you is not working, you might consider funding a spousal IRA. This could be the same IRA that the spouse contributed to while working or it could be a new account.
