It’s not always easy to tell when Gen X are in trouble. We were the generation raised to sort out our own problems, or brush them under the rug. On the whole we’re stoic, cynical, and have a tendency to pride ourselves on not starting or fueling drama. So it’s not surprising that many of […]
Are you wealthy yet? Chances are, the answer is no. On average, Americans think you need an investable net worth (i.e., excluding equity in your home) of $2.2 million to feel wealthy. According to DQYDJ.com’s net worth calculator, just 7 percent of Americans have that much. So, not knowing anything about you, chances are better […]
Besides the pay gap and the wealth gap, women have another financial hurdle to clear. Call it the ‘retirement gap’ that seems to widen as women approach their golden years. According to Bank of America’s 2023 Financial Life Benefits Impact Report, on average, men have a 401(k) account balance of $89,000 – 50% more than […]
Among the most prevalent stereotypes of baby boomers is that they are a fortunate generation. Having grown up in an era of unprecedented economic expansion, enjoying a record-breaking stock market bull run in mid-life, their lucky historical trajectory has become the envy of younger generations. Yet new research shows not all boomers enjoyed such a […]
Taxes. One of the most hated aspects of personal finance, but without them, we don’t have a country. So, unless you want to get in serious trouble and potentially go to jail, you must pay Uncle Sam his due. The US tax code is infamous for its complexity, resulting in over 510,000 tax accountants, over […]
There are benefits to working after retirement, and not all about the money. Learn four non-financial reasons to keep working in retirement. Working through retirement may seem like an absurdly oxymoronic approach to one’s golden years, yet it’s becoming the norm. A clear majority of Americans are weighing up doing “post-work work,” according to a […]
Unless you plan to work forever, you need to plan for retirement. Then, you need to execute that plan. Our parents’ and grandparents’ generations had a simpler time with that until the 401(k) plan showed up. Since then, things for us are nowhere as simple, easy, or risk-free. How Did 401(k) Plans Shift Retirement Risk […]
If you’re about to start your own business or have recently done so, you’ve likely wondered what retirement plan might be best for you. Is it a 401(k) plan? A SEP IRA? Something else? With the many options available, I asked four financial advisors for their thoughts on the two most popular options, 401(k) plans, […]
Is a 401(k) plan worth it? This is a question on the minds of many people trying to decide if this retirement account offered through their employer is better than other savings options like an Individual Retirement Account (IRA). Having invested through 401(k) plans and their 403(b) cousins for a quarter century, I can speak […]