You started this year off with grand resolutions and intentions, but the demands of everyday life got in the way or your financial plans just became overwhelming. Try tackling big goals in more manageable, bite-sized pieces, such as one a month.
As winter fades, it’s time to seriously gear up to make your financial goals for 2015 real. They range from the simple and quick to the complex and long-term. Here’s a checklist to get you started and keep you going.
Some young adults seem stuck: Baby boomers took the best of what’s available and those nearing middle age always stand in line just ahead of millennials. If you’re a millennial, born between 1980 and 2000, you just need to change habits and work harder on your finances.
Single folks who were never married have fewer Social Security filing options. Still, you should understand what they are and which fits your needs best.
If you have more than one type of retirement savings plan available to you, where and in what order should you contribute to the accounts?
The ultimate goal of retirement planning is to have a sufficient income for as long as you live. One possible strategy to help you with that goal is to invest a part of your 401(k) in a longevity annuity.
Many 401(k) plans allow you to take a loan against what you saved. Such money, though, comes with catches. Overall, tapping your tax-advantaged retirement savings is a bad idea because it saps your retirement kitty.
Women are more vulnerable to financial insecurity because they typically live longer and earn less. Making the right financial decisions is therefore crucial for all women, from Social Security to the rest of their retirement planning.
After dedicating a good 20 years to building your own business, the question just might be: “What now?” When selling the enterprise you nurtured, getting your managers to buy is usually your best bet.
We all often hear about how dire the retirement outlook for Americans is. While the overall situation is scary, I like to focus on the benchmarks that everyone can target without feeling like they’re losing before even starting.