Although aging is an undeniable part of life, most of us don't want to think about how our bodies and minds will change in the future. But even if we're in excellent health now, that could all change a few years down the line.
Statistics show that ...
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Roth IRA and Traditional 401(k) Differences: Which Is Better?
For many of us, retirement can often seem like something too far off in the future. However, as we approach retirement age, and as we are exposed with news of economic instability, we often wonder what is in store for us during retirement. Because of ...
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Lottery Fraud: Don’t Get Caught Paying ‘The Stupid Tax’
There's an old joke that goes something like this:
In order to raise additional revenue, the government is introducing a National Lottery with a daily grand prize of $50 million. Winners will get $1 annually for 50 million years.
Heh. I smile ...
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How to Safely Invest for Retirement
How important is it to have a sufficient financial nest egg by the time you are ready to retire? Well ... it should be very important because your life post-retirement depends on it.
Believe it or not, a major mistake some people make when ...
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Reverse Mortgages as Payment for Elderly Care
Typically, elderly care can be expensive. If you have an elderly family member, it's one of the concerns you have to think about as they age and experience physical and cognitive decline. No matter how independent they are when they're young, it'll ...
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These 4 Financial New Year’s Resolutions Are Actually Sustainable
One of the things that sets the human race apart from other species is our ability to learn by looking back at the past. But by this logic, New Year's resolutions should have long ceased to exist. After all, most people make enthusiastic New Year's ...
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Study: Americans More Likely to Save for Vacation than for Retirement
Although Americans are criticized for putting work above all else, so much so that half of those in the workforce aren't using all their vacation days, a new NerdWallet study suggests that we are prioritizing getaways -- but it may be at the expense ...
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The Benefits of Taking a Reverse Mortgage Now vs. Later
There isn't a right or wrong time to get a reverse mortgage but, depending on your personal retirement goals, the earlier you choose to get a reverse mortgage, the greater the potential gain may be down the road.
Reverse mortgages allow homeowners ...
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5 Personal Finance Tenets That Aren’t as Smart as They Used to Be
When I was a kid I used to love the fun houses found at summer carnivals and local fairs.
I loved the sense of twisted reality provided by image-distorting mirrors and the wacky side-rooms where water appeared to flow uphill and it was nearly ...
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Mailbag: When It Makes Sense to Take the 401k Withdrawal Penalty
I'm a middle aged male, but have very little in my retirement because I never really see myself retiring in today's America. I have around $7500 in my 401k. Should I pay the penalty, which would give me about $4500 afterwards and put this money ...
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5 Strategies for Protecting Your 401(k) Savings from Economic Collapse
After more than a decade of the Fed's reckless monetary policies -- in particular, persistent near-zero interest rates and their relentless de facto currency-printing campaign better known as "quantitative easing" -- the financial system has been so ...
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5 Ways to Make Your Final Working Years Before Retirement Really Count
According to leading psychologists, it's important to start planning for the transition to retirement three to five years ahead of your retirement date. You can set yourself up for retirement success by considering these five factors:
Volunteer ...
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Mailbag: What Will Happen to Pensions If Hyperinflation Hits the Dollar?
Hi Len, I've been reading your blog for close to a year now and love it! Do you think traditional pension payments will increase in some way during hyperinflation? While anything can certainly happen in the financial chaos, it seems there would be ...
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Roth IRA Loophole: The Backdoor IRA Hack
If you're looking to beef up your retirement savings, then you'll want to check out this Roth IRA loophole right now.
Roth IRAs have been around since the introduction of the Taxpayer Relief act in 1997, and are considered to be a smart tool for ...
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The Pros and Cons of Taking Social Security Early
Nobody knows exactly how long Social Security will last, but for the time being you're still entitled to what the government has stashed on your behalf over the course of your life. So at least for now, the dilemma is not if you'll receive the payout ...
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The Young Professional’s Guide to Retirement
As a young professional, retirement may seem like it's something that will happen to you in the far-off future. When you're getting started with your career, it can be hard to imagine what life might look like when you stop working. But rest assured, ...
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Your 401k: How to Manage It, How to Roll it Over, How to Make the Most of It
The 401k -- everyone has heard of it, and most of us have one, but do you realize how important your 401k actually is?
When the government first introduced this pre-tax investment plan, it was merely meant to be an extra way to subsidize your ...
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5 Investment Strategies To Help You Save For Retirement
Although you're still of good working age, you should already be preparing for your retirement. However, this topic is often brushed off by most people since they don't know how to start planning for it and what investment strategies will lead to a ...
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22 Smart Money Tips Everyone Can Learn by Playing Doctor
So ... Who wants to play "doctor"?
I know what you're thinking, but you can relax. I promise nobody will end up in the principal's office after we're finished here. That's because this version only focuses on taking a peek at our ... personal ...
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3 Ways To Quickly Bulk Up Your Retirement Savings
It's no secret that building up a retirement savings account is key to sustaining a high quality of life during your golden years. Sure, it's essential to have money for the bare necessities now -- as well as the not-so-bare necessities -- but don't ...
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