Ariel Skelley | DigitalVision | Getty Images I know the entire premise of investing is to someday be like Warren Buffett, the Sage of Omaha. While you can dream of such a lofty goal, you can still do pretty well for yourself when it comes to investing. As a certified financial planner, I often have
Personal finance
The best time to prepare for being let go is while you’re still punching in at work. While employment overall has been rosy — the unemployment rate went down 20 basis points to 3.6% in April, according to the U.S. Bureau of Labor Statistics — signs of job cuts are emerging. Last month, U.S.-based businesses
Once primarily used for financing purchases such as washing machines or winter coats when the economy was floundering, layaway has a whole new look. Now called point-of-sale loans, installment payments are once again shaking up how consumers finance purchases — on everything from sneakers to skin care. “As brick-and-mortar retailers continue to face challenges, many
Hero Images | Getty Images When it comes to putting a ring on it, younger generations are saying yes, but for less money. Two-thirds of younger Americans — Generation Z and young millennials — think an engagement ring should cost less than $2,500, according to a new survey from TD Ameritrade. That is about half
Drew Angerer | Getty Images News | Getty Images Eyeballing that Mega Millions jackpot? Good ol’ Uncle Sam is, too. After more than two months of twice-weekly drawings with no one matching all six numbers, the top prize has climbed to $367 million for Tuesday night’s drawing. The last jackpot won was on March 12,
There’s an expense lurking on the horizon for retirees that is largely unpredictable but likely: Long-term care. With premiums skyrocketing on insurance policies designed to cover that cost, financial advisors are turning to a variety of other strategies to help clients prepare for a day when they might need help with daily living activities such
Warren Buffett Gerard Miller | CNBC Billionaire Warren Buffett is a master when it comes to investing. The Berkshire Hathaway CEO is famous for buying and holding stock — and not giving in to the volatility of the market. He’s also well-known for taking big stakes in companies, such as the $900 million worth of
Paul Bradbury | Caiaimage | Getty Images All parents know what it’s like trying to pull off a good family vacation. After planning, traveling, keeping track of luggage and children, and dealing with squabbles and untimely bathroom needs, if you return intact with everyone still mostly on speaking terms, you’re likely to consider it a
With 401(k) balances near all-time highs, retirement savers are probably feeling pretty good about themselves these days. The first part of this year saw record contributions, thanks, in part, to a strong stock market, according to Fidelity, the nation’s largest provider of 401(k) plans. Eventually though, savers will have to take distributions from those accounts.
Nancy Ney | Photodisc | Getty Images As the cost of college rises, more parents are cosigning private loans for their children’s education. That move can wreak havoc on older people’s financial lives if their child struggles to repay the debt. Some 45% of adults over 50 who took on education-related debt for someone else
FluxFactory | E+ | Getty Images Nobody likes to get a poor grade. But those online “test-your-financial-literacy quizzes can be irresistible. They’re short. You think you’ll do pretty well. Then, wham. You failed. How bad should you feel? Probably not very. When U.S. managers, including corporate executives, were tested on basic financial literacy, the average
Signage is displayed inside the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., on Monday, March 4, 2019. Andrew Harrer | Bloomberg | Getty Images The nation’s consumer watchdog agency on Friday filed suit against a debt-collection law firm, accusing it of using deceptive practices to get consumers to pay money that they
If you regularly contribute to a health savings account and plan to claim Social Security past your full retirement age, watch out. That’s because you can no longer contribute to an HSA once you’re on Medicare, no matter whether you sign up just for Part A hospital coverage (which is free) or additional parts of
Your journey on the road to building wealth begins with one question: Have you earned the right to invest? Even the most ambitious savers need to go through a little bit of prep work before they start socking away cash into a brokerage account, an individual retirement account or any other long-term investment. “Before you
Pedestrians walk past a stock indicator board showing the share price index of the Tokyo Stock Exchange (C, top) in Tokyo on December 25, 2018. – Jiji Press | AFP | Getty Images To avoid doing something you’ll regret, you might have decided to look away from your investments until all those trade war headlines start
“The Historic Main Street Trolley in Memphis, Tennessee, with buildings, an elegant station, and water fountains in the background.” Davel5957 | E+ | Getty Images Live like a king on $100,000 in Memphis, Tennessee. It turns out the “Home of Blues, Soul and Rock ‘n Roll ” is the best U.S. city to live in
Show – don’t tell – what you bring to the table. Drazen_ | E+ | Getty Images Forget backpacking through Europe. Scoring an internship during a break from college is key to landing a great job once you graduate. “They are more important today than ever before,” said Jill Tipograph, co-founder of career coach firm
Money can be one of the biggest stressors in a couple’s life. But there are certain tricks that can help ease the pressure. One of those is what’s called a “mad money” account, a favorite of certified financial planner Lazetta Rainey Braxton. The idea is that each person puts aside a set amount every month
How you should prepare for retirement has a lot to do with whether you grew up listening to The Beatles or Bon Jovi. Experts say you’ll typically need at least $1 million saved for retirement, and sometimes more. A new report from the Wells Fargo Investment Institute, titled “Reimagining Retirement, ” offers tips to the
Jamie Grill | Image Bank | Getty Images Recent market volatility is shining a spotlight on equity funds, but make sure you don’t overlook the risks hiding in the “stable” part of your 401(k). Generally, investors think of bonds as a safe corner of their portfolio, offsetting the day-to-day dramatic movements you might see in