The average net worth of Americans is $748,800, according to the Federal Reserve’s most recent Survey of Consumer Finances released in September 2020. Meanwhile the median net worth of American households is $121,700, according to […]
Making a budget is often the first step in building a solid financial foundation. It helps you get better acquainted with how much money you earn, spend, and save. What’s more, it provides guidance and […]
When you think of addiction, you might automatically think of people who are dependent on drugs, alcohol, or food as a coping mechanism. But it’s also possible to be addicted to money. This issue can […]
Am I financially stable? That’s an important question to ask if you’re wondering how your money management skills measure up. Financial stability can mean different things to different people, and there’s no single way to […]
A 401(k) can be a great way to save for retirement on a pre-tax basis, while enjoying the added benefit of an employer match. But it can be hard to know if you’re saving enough. […]
If you’re interested in how to make extra income from home, today there are more opportunities than ever before. Some ways to earn extra income from home include side hustles, online businesses, and remote jobs. […]
Should I save or pay off debt? It’s a tough financial choice. Prioritizing debt repayment can help you pay off what you owe faster, eventually freeing up more money that you can save. […]
Part of planning for a secure future is knowing what retirement mistakes to avoid that could potentially cost you money. Some retirement planning mistakes are obvious; others you may not even know you’re making. Being […]
Wealth management firms are all different, with their own specializations and services. As a result, the process for choosing a wealth manager is a very personal one. Wealth managers work closely together with their clients […]
The rule of 55 is a provision in the Internal Revenue Code that allows workers to withdraw money from their employer-sponsored retirement plan without a penalty once they reach age 55. Distributions are still taxable […]
Inheriting a 401(k) can add a wrinkle to your financial plan from a tax perspective. Under 401(k) inheritance tax rules, any assets passed on from one person to another are taxable. The rules for […]
An Initial Public Offering or IPO represents a company’s first foray into the world of publicly-traded stock. While an IPO can be highly anticipated by the company, prospective investors and the market, success isn’t always […]
Can I retire at 55? It’s a question you might be asking yourself if you’re hoping to make an early exit from the workforce. While normal retirement age for most people usually means 65 or older, […]
Lifestyle funds are investment funds that base their asset allocation on someone’s age, risk tolerance, and investing goals. Individuals who want to grow wealth over the long term in a relatively hands-off way might consider […]
An economic indicator is a statistic or piece of data that offers insight into an economy. Analysts use economic indicators to gauge where an economic system is in the present moment and where it might […]
Credit risk measures the likelihood of incurring a loss if one party to a financial transaction fails to follow through on their obligations. Credit risk often comes up when in relation lending and how likely […]
A tax loss carryforward is a special tax rule that allows capital losses to be carried over from one year to another. In other words, capital losses realized in the current tax year can […]
Cyclical investing means understanding how various stock sectors react to economic changes. A cyclical stock is one that’s closely correlated to what’s happening with the economy at any given time. The performance of non-cyclical stocks, […]
Inflation is an economic trend in which prices for goods and services rise over time. The Federal Reserve uses different price indexes, including the Consumer Price Index, to track inflation and determine how to shape […]
Retirement savers age 50 and older get to put extra tax-advantaged money into their 401(k) accounts than the standard annual contribution limits. Those additional savings are known as “catch-up contributions.” If you have […]
While you may have established your career once you reach your 30s, it’s still not that easy to build wealth. Suddenly, you’ve often got a host of other financial priorities like paying down debt, saving […]
Income-contingent payment (ICR) plans are one kind and can help make federal student loan payments more affordable. The income-contingent repayment plan allows you to extend your loan repayment period while reducing monthly payments to help […]
A stock split allows companies to increase the number of shares offered to investors, without changing shareholder equity. Rather than issuing new shares, companies may split stock to reduce prices. A reverse stock split can be used […]