Sporrer/Rupp | ImageSource | Getty Images The biggest piece of advice that people in retirement would pass along to their younger selves is simple: start saving earlier for the end of your career. Roughly 70% of retirees said that changing their habits to save or invest more and earlier is the top advice they’d give … Read more
My wife and I love to travel. In the five years that we’ve been together, we’ve made many unforgettable memories during our trips abroad. But in July 2021, we took a Greek Isles cruise for my wife’s 49th birthday that truly changed our lives. As we sat in our ocean view cabin, we talked about … Read more
A Social Security Administration office in San Francisco. Getty Images A new Social Security trustees report points to a slightly longer time horizon for the program’s trust funds. But even with a new depletion date of 2035 — a year later than projected last year — the program still faces a 75-year deficit. A one-year … Read more
President Joe Biden remarks on efforts to lower high gas prices at the Eisenhower Executive Office Building in Washington, DC on June 22, 2022. JimWatson | AFP | Getty Images President Joe Biden has called on Congress to put a three-month federal gas tax holiday in place to help ease the financial pain drivers are … Read more
As Pride Month comes to a close and I prepare to go the last of a million parties this weekend, it’s become clear to me that “personal finance writer” isn’t a very exciting gay job. When I tell the boys what I do, I usually get little more than a practiced, “Oh, cool.” Which is … Read more
Mint Images | Mint Images Rf | Getty Images Women prefer investing in a way that helps the environment and does social good, some studies have found. Such values-based investing could help raise women’s general enthusiasm for investing and boost long-term wealth, according to financial experts. About 52% of women would rather invest in companies … Read more
Abortion rights activists hoist their signs near the US Supreme Court in Washington on June 24, 2022. Olivier Douliéry | AFP | Getty Images The Supreme Court’s decision to overturn Roe v. Wade may cause financial hardship for many women, especially those already facing economic instability, research shows. The ruling Friday ends almost 50 years … Read more
How a 60/40 portfolio strategy works The strategy allocates 60% to stocks and 40% to bonds — a traditional portfolio that carries a moderate level of risk. More generally, “60/40” is a shorthand for the broader theme of investment diversification. The thinking is: When stocks (the growth engine of a portfolio) do poorly, bonds serve … Read more
There’s a silver lining to higher interest rates: Stashing some cash finally pays. Soaring inflation, which pushed the Federal Reserve into hiking its benchmark rate, is having an effect on the return savers stand to get on their money, at long last. While the Fed has no direct influence on deposit rates, they tend to … Read more
If there is one investment every person should have right now, it is a series I bond, according to personal finance expert Suze Orman. The bond’s variable interest rate is based on inflation, which means the asset currently has a high yield. The Consumer Price Index rose 8.6% in May, the highest rate since 1981. … Read more