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Retirement Countdown: Key moves to make when you’re 30 years away

Retirement Countdown: Key moves to make when you’re 30 years away

Though there's no official retirement age in the U.S., it's pretty common for people to retire in their 60s. IRAs and 401(k)s are off-limits until age 59 and 1/2, Social Security's earliest claiming age is 62, and Medicare doesn't begin until 65. So for the typical person, all of that sets the ...
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JPMorgan flags major concerns on parents, retirement income

JPMorgan flags major concerns on parents, retirement income

J.P. Morgan Wealth Management recently published a detailed guide examining the financial, tax, and emotional complexities of contributing to a parent’s retirement.  The guide arrives as nearly 46% of Americans either provide financial support to aging parents or expect to do so, according to ...
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Fidelity, Charles Schwab deliver major message on 401(k)s, IRAs

Fidelity, Charles Schwab deliver major message on 401(k)s, IRAs

People striving to build financially secure retirements would be wise to pay close attention to guidance from financial services firms such as Fidelity and Charles Schwab on 401(k)s and individual retirement accounts (IRAs). Workers across the country are working to stretch their retirement savings ...
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The reverse mortgage as a retirement lifeline

The reverse mortgage as a retirement lifeline

Most retirees treat their home equity as a last resort, but a growing body of research suggests that thinking is backward. Used strategically, a home equity conversion mortgage (HECM) line of credit can work as a volatility buffer. When the market drops, you can withdraw cash, tax-free, to avoid ...
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High-Net-Worth Couple Opts for Self-Funding Over Long-Term Care Insurance

High-Net-Worth Couple Opts for Self-Funding Over Long-Term Care Insurance

A 70-year-old couple with $3.4 million in assets decided to sell their long-term care (LTC) policies and self-fund a $400,000 reserve instead. Facing a 27% premium increase on their 12-year-old policy, they chose to allocate funds into a reserve that could grow to approximately $832,000 by age 85, aligning with median care costs. This decision reflects a broader trend among high-net-worth households to self-insure against rising LTC insurance premiums.
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Suze Orman, AARP flag a retirement trap

Suze Orman, AARP flag a retirement trap

Financial expert Suze Orman and the AARP are both sounding the alarm about retirement expenses that keep outpacing savings. Health care sits at the center of that warning, but insurance, vehicle, and relocation costs are accelerating too. A 65-year-old couple retiring in 2025 will need ...
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Financial Planning for Young Adults: Strategies for Budget Management Post-Education

Financial Planning for Young Adults: Strategies for Budget Management Post-Education

Financial Planning for Young Adults: Strategies for Budget Management Post-Education
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AARP, Vanguard warn Americans on major 401(k), IRA shift

AARP, Vanguard warn Americans on major 401(k), IRA shift

Americans saving for retirement focus on ensuring their nest eggs will sustain the lifestyles they hope to enjoy once their working years are behind them. That desire to make the most of every dollar — across retirement accounts, including 401(k)s and Individual Retirement Accounts (IRAs) — ...
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Consumer Reports Offers Strategies to Reduce Car Insurance Costs Amid Rising Premiums

Consumer Reports Offers Strategies to Reduce Car Insurance Costs Amid Rising Premiums

Consumer Reports has released a set of recommendations aimed at helping drivers reduce their car insurance costs, which have risen to an average of nearly $2,700 annually. The report suggests several strategies, including consulting with independent insurance agents to compare coverage options and rates, increasing deductibles to lower premiums, and considering the removal of collision and comprehensive coverage for older vehicles. Additionally, bundling home and auto insurance policies can lead to discounts, as can taking defensive driving courses. Some insurers also offer savings through driving-monitoring programs, which track driving habits via smartphone apps or diagnostic port devices. These measures are designed to help drivers manage the financial burden of car insurance more effectively.
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Wealth Strategist Ange Matthews Offers Debt Reduction Tips for Consumers

Wealth Strategist Ange Matthews Offers Debt Reduction Tips for Consumers

CBS News Miami's segment 'Making Ends Meet' featured wealth strategist Ange Matthews, who provided practical advice for individuals looking to reduce their debt. Matthews emphasized the importance of creating a budget to track expenses and identify areas where spending can be reduced. She also suggested prioritizing high-interest debts to minimize overall interest payments. Additionally, Matthews recommended exploring balance transfer options to consolidate debts at lower interest rates, which can help in managing payments more effectively. The segment aims to equip viewers with actionable strategies to improve their financial health.
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Trump Accounts App Launches to Manage Children's Tax-Deferred Savings

Trump Accounts App Launches to Manage Children's Tax-Deferred Savings

Trump Accounts App Launches to Manage Children's Tax-Deferred Savings
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Optimal Strategies for Managing a $40,000 Emergency Fund

Optimal Strategies for Managing a $40,000 Emergency Fund

Optimal Strategies for Managing a $40,000 Emergency Fund