Gen Z, Women: Most Financially Stressed
Money may not buy happiness, but financial stress can take a significant toll on anyone’s mental well-being. From lingering debt to the effects of inflation on basic commodities, financial stress touches every generation — some more than others.
Do You Have a Forgotten 401(k)?
As of earlier this year, job switchers had left their money in some 29 million 401(k) accounts with former employers. That’s about 25% of the money in all 401(k) plans! This staggering number suggests that many individuals may have forgotten about their retirement savings tucked away in these accounts.
Why Financial Independence Is Delayed for Millennials and Gen Z
Achieving financial independence has always been a significant milestone in life. However, Millennials and Gen Z are taking longer than expected to achieve this goal. Various factors, including the changing dynamics of family support and low financial confidence, influence this delay. This article explores the reasons for the delayed financial independence of these generations and provides tips for navigating this new landscape
The New 401(K) Catch-Up Contribution Changes Coming In 2026
In December 2022, Congress ushered in the SECURE 2.0 Act, an ambitious piece of legislation aimed at bolstering the retirement prospects of both current and future generations of American workers. This comprehensive act introduced numerous changes, with a particular focus on the rules governing 401(k) catch-up contributions. While the primary objective is to improve retirement outcomes, it's important to understand that these changes might result in increased tax liabilities for millions of Americans.
Looking Toward 2024: Financial Resolutions for a Prosperous Year
As we approach the threshold of a new year, it's the perfect time to reflect on our financial habits. The New Year is a time when we make resolutions that can significantly impact our lives, including our financial well-being. Whether you aim to save more, reduce debt, or invest wisely, setting practical financial resolutions for 2024 is a proactive step toward a prosperous future.
Investment Scams: Recognizing and Avoiding Financial Fraud
In the world of personal finance and investing, opportunities abound, but so do investment scams. Investment scams are a persistent threat that can leave investors financially devastated. These schemes are designed to lure victims into fraudulent, risky, or even non-existent investments. Almost 70 percent of US households own some type of investment, and every year, thousands of Americans lose millions of dollars to investment fraud. A conservative estimate is that 1 in 10 investors will be victims of fraud at some point in their lives, with seniors being more targeted than younger people
How Much Does Long-Term Care Insurance Cost per Month?
Long-term care insurance is a financial safeguard that helps individuals plan for the expenses associated with extended medical care and support as they age
4 Ways to Achieve a More Financially Secure Retirement
Planning for retirement is a crucial step in securing your financial future. A new study found that 70 percent of Americans plan to retire, but nearly half (42 percent) of them do not think they will have enough savings to do so. When planning for retirement, it’s important to assess how much you have set aside and how it is growing. Surprisingly, a new study revealed that 21 percent of respondents were unaware of how much money they had in their 401K.
Effective Strategies for Managing Holiday Spending
The holiday season is a time of joy, celebration, and giving. Managing holiday spending can be the last thing on your mind. According to PWC’s Holiday Spending Statistics: 2023 Holiday Outlook, despite the recent inflationary challenges, consumers will increase spending by a healthy 7 percent...
End-of-Year Business Financial Checklist
Preparing Your Company for Success in 2024 As the year draws to a close, it's time for businesses to take a moment and assess their financial health. Preparing for the New Year should include a comprehensive financial checklist to ensure your company starts 2024 on the right financial track. This checklist is not only about meeting your tax obligations but also about setting your business up for success.