January 12, 2015 |
Not everyone who puts off retirement saving can make a success of playing catch-up. But for a lot of people, it is doable, with the right advice and a realistic plan. Here are some suggestions. "The odds are not insurmountable" for a person in their 40s or 50s who has done little or no retirement planning to rally and assemble a livable retirement plan, according to this post at Investopedia.com. Writer Glenn Curtis lists "late-stage retirement catch-up tactic" that include funding retirement savings accounts "to the hilt.
January 5, 2015 |
Stocks did pretty well in 2014, but what about 2015? Since nobody knows, many financial experts say it's smart for investors to "rebalance" a portfolio. Here's what that is all about. Bonds, stocks , or other investments that were sleeping dogs last year may jump to the head of the pack next. In managing an IRA, 401(k), or other accounts, it's good to be ready for changes. Do that by rebalancing. The Financial Industry Regulator Authority provides an overview at its site, FINRA.org. Since rebalancing is hard for many people to understand and do, providers such as mutual fund companies offer to do it for you, if you put your money into so-called lifecycle or target-date funds.
December 29, 2014 |
Net worth is not just for the one-percent crowd. Everyone has a net worth - even if it happens to be negative. Knowing your net worth, some experts say, is the first step toward raising it. Many sites offer net-worth calculators, and one of the best of these online tools - at a variety of sites, including AARP.org and Bankrate.com - is published by DinkyTown.net. DinkyTown's catalog of calculators covers auto loans, taxes, mortgages, and dozens of other topics to inform your financial decisions.
December 22, 2014 |
Getting an inheritance, even a small one, offers financial opportunities and risks. Don't blow it, most experts say. But how, since being named a beneficiary is a rare event in most of our lives? Drawing on an interview with financial adviser Jason Flurry, Bankrate.com writer Judy Martel says many people jump into risky investments with inherited money - a move that could sweep away a windfall. "Many heirs don't know how to handle a windfall and end up no better off than they were before," Martel writes.
December 15, 2014 |
How would you incorporate a company, settle a fight with a tenant, or get a lawyer in a criminal case? Jargon-free legal information is at hand from a variety of sites and mobile apps. One of the best places to start is Nolo.com. Its extensive area for free legal information can give you detailed pointers on debt management, LGBT law, personal finance, and many other issues. The immigration-law page covers what to do if you think you qualify for deferral under the program that President Obama recently took executive action to expand.
December 1, 2014 |
When you lose or leave a job, it's important to know what to do about any money that's stashed for you in a former employer's 401(k) retirement plan. There are lots of options. Losing a job raises all sorts of questions in addition to immediate concerns for income. What becomes of the retirement money you and your former employer have put into your 401(k) account? Bankrate.com's Don Taylor notes some facts that may surprise you in a post titled, "I lost my job. What happens to my 401(k)
November 16, 2014 |
Retirement could be dicey for debt-laden and risk-averse millennials - the generation that started coming of age around the turn of the century. But there's some hope. "Retirement coach" Jacob Gold writes in this USNews.com post that millennials looking at retirement - three decades away or more - know they won't arrive at that distant horizon with a safe company pension. They need to be putting money in 401(k)s, taking advantage of any matching funds their employers put on the table, and investing the savings aggressively.
October 27, 2014 |
Finding a broker to assist or guide your investing is hard. Switching brokers can be even harder. There are ways to ease the process, and here's how to become familiar with some of them. "Transferring a brokerage account seems a little intimidating," observes this post at informational site LearningMarkets.com. But, it continues, "if you are in an unhappy brokerage relationship don't let the paper-work scare you. Dump your broker and educate yourself on how easy the transfer process can be and what you should ask for to make it as inexpensive as possible.
October 6, 2014 |
Annuities are supposed to give you a steady retirement paycheck from your investments, but the field is full of land mines. Here's a start on learning to navigate that minefield in safety. Start with simple explanations. The Securities and Exchange Commission's site on investing basics defines annuities and tells why some people buy them. "An annuity is a contract between you and an insurance company that requires the insurer to make payments to you, either immediately or in the future.