I Wouldn’t Buy an Annuity, CD, or Bond When Banks Are Paying This Much
I’m the type of person who likes to get paid to do nothing. This doesn’t mean I’m lazy and don’t work for my money. But I like to put the money I’m not using…
All Work
Maurie Backman
‘Where can I go to make rich friends? Being around my poor friends is keeping me poor.’
The company we keep has the potential to impact our financial situations. If you tend to spend time around people who are big spenders, you may be more likely to whittle down your paycheck…
I’m in my 30s and want to retire early with a nest egg of $10 million – is that enough to live my dream?
A lot of people aim to retire at an earlier age than usual. But retiring in your 30s is a tough thing to pull off — namely, because it takes a lot of…
I’m afraid I’ve raised 3 spoiled brats that are used to cars, theatres, game room, and chefs and now won’t enjoy college
As parents, it’s natural to want to give our children everything. And I’d be lying if I said I was good at saying no to my kids. Often, I’ll say yes to things…
The One Social Security Myth Retirees Can’t Afford to Believe
Social Security has been around for a really long time. And it’s also a program that’s filled with different rules. Because of this, it stands to reason that over time, misinformation has leaked out…
90% of my $15 million net worth is with Vanguard – am I compromising my financial safety by having too much in one account?
It’s a good idea to invest your money for future goals so it grows while you aren’t using it. And to that end, you can choose from a wide number of brokerages to…
6 Financial Tidal Waves That Could Unexpectedly Crush Baby Boomers
A lot of people look forward to retirement only to find that it’s a more financially stressful period of life than expected. And a big part of the reason could boil down to…
Will Lawmakers Actually Let Social Security Cut Benefits? Here’s the Scoop
It probably won’t surprise you to learn that Social Security is a key income source for millions of retired seniors today. But what may surprise you is that the program is at risk of…
President Trump Wants to Make This Big Social Security Change. Will it Help the Program or Hurt It?
Retiring on Social Security alone is not an easy thing to do. But the silver lining is that seniors who have only Social Security as income typically don’t pay taxes on their benefits. Once…
I’m 27 and went from making $18 an hour to now making $51 an hour as a lab tech
When you’re new to working, it’s not unusual to earn a minimal wage. That doesn’t mean you’re earning the minimum wage. Rather, your income may not be much to write home about. But…
My spouse and I have 2 kids and we want to budget for a good lifestyle that includes good food – how much should we budget?
In life, we have expenses we need to pay for, and we have expenses we choose to pay for. Food is a definite need, and there’s no getting around that. But within the…
Should Retirees Be Avoiding the Stock Market? Here’s the Truth
An older relative of mine retired recently and asked for advice on managing his portfolio. I told him his best bet was to sit down with a financial advisor (which I am not) for…
Whoever said you can’t make a good living in retail has never seen my $80k paycheck
There are certain jobs that tend to lend themselves to giant paychecks. Lawyers typically do quite well, as to people who work in the financial industry. But when we think of large salaries,…
These 3 Social Security Changes That Just Took Effect. How Many Did You Miss?
You’re probably aware that Social Security has been around for a long time. But did you know that the program tends to undergo big changes each year? It’s true. Social Security’s rules get an…
Will Social Security Automatically Enroll You At 70?
One nice feature of Social Security is that it doesn’t lock all seniors into one specific filing age. You can claim benefits as early as age 62. But you’ll need to wait until your…
Struggling With Your 2.5% Social Security COLA? 3 Ways to Generate More Retirement Income This Year
Each year, Social Security benefits are eligible for a cost-of-living adjustment (COLA). The purpose of COLAs is to make sure that benefits are able to keep up with inflation. But unfortunately, they often fall…
This Big Change Needs to Come to Social Security ASAP
Millions of older Americans collect a monthly Social Security benefit. And without that income, many would be unable to cover even basic expenses like shelter and food. But living on Social Security alone isn’t…
3 Ways to Lower Your Taxes in Retirement
Paying taxes is a drag no matter how old you are. But when you’re retired, taxes can be even more of a problem than during your working years. And the reason boils down to…
Divorced? How to Claim Social Security Benefits on Your Ex’s Record
Typically, people become eligible for Social Security by working and paying into the program. But that’s not the only path to collecting Social Security in retirement. Even if you never worked, you may…
Suze Orman shares the biggest mistake people can make on their tax return
from 24/7 Wall St. Financial guru Suze Orman says getting a tax refund is a huge mistake. You’re giving the government an interest-free loan and getting nothing in return. Adjust your withholding to increase…