With an annuity, you invest a lump sum of cash to produce a monthly stream of income for a fixed period or for life. Whether annuities are good, bad or ugly rides on the type you choose and what you want it to do. Here’s what to know.
When you were a kid, did you fear monsters hiding in your closet or under your bed? You’re no kid anymore and new fears haunt you – such as running out of money in retirement after a lifetime of watching prices go up. You can still plan now to enjoy enough to spend as well as how to spend it.
If you’re approaching or already in retirement and your fear of outliving your savings steadily grows, consider this: You pay a premium to an insurance company and in return a lifetime income kicks in when you turn a certain age. But the aging buyer should beware: These products often work in only limited circumstances and often just prey on your fears.
You see many reports about how financially unprepared the average American is for life after working. If your savings need a jolt, one of your best moves during your career might be more work.
When you file for Social Security, two provisions – file and suspend and restricted application filing – are likely to confuse you the most. They’re complicated yet potentially a big help if you want to maximize benefits. Here’s how to get the most out of your benefits.
Ever see the 1970 classic movie Five Easy Pieces? If you were born between 1946 and 1964, this iconic piece of your pop entertainment past offers several metaphoric financial benefits worth your initial effort.
If you’re a boomer, you enjoy good news in that you’ll probably live longer and perhaps better that your parents and grandparents did. The bad news: You’ll live a longer and perhaps more expensive life, too.
You face decisions your parents or grandparents likely didn’t face before you.
Congratulations, recent graduate: You just landed your first job and entered the real world. Now come tough questions about your financial well-being. Your decisions when starting out – from how to save to what to spend – influence your life far into the future.
My toddler son spends long stretches every day hitting a foam golf ball around the yard; occasionally we visit a local pitch-putt course where he brings just his putter and his driver clubs. This simplistic approach to the game has drawbacks, of course, and in that way parallels a popular investment vehicle: the target date mutual fund.
Your 401(k) is one of your greatest tools to save for retirement, but most 401(k)s need frequent attention, from a tune-up to a complete overhaul to stay on track. Here are warning signs.
After decades of hard work and saving, you finally enter your golden years. If you’re gearing up to retire this year, here are five tasks to keep in mind, from spending cash to spending time.