Many boomers keep most savings in either 401(k) plans or traditional individual retirement accounts. If you’re in this generation, born between 1946 and 1964 and with a few working years remaining before retirement, consider converting your IRA to a Roth.
People say things like, “When I retire, I am going to be happy,” or “When I don’t have to work anymore, I will be happy.” The truth is, if you don’t think you can be happy until you retire, you won’t be.
Although the stock market hasn’t advanced much this year and is ebbing lately, it still has hit new highs. Considering that economic news is up and down, why is that? Let’s take a simple quiz and answer the following multiple-choice question.
Every day you read headlines talking about the money you need for retirement. What happens to the rest of your life – and who you think you are – after you punch your last time clock? Here’s how to consider changes that won’t come with a dollar sign.
The graduation parties are over. Your diploma is at the frame shop. Now what? What’s next in your life transition? College, graduate school, a job, the military? What is your strategy for moving forward with passion and purpose?
Fortunes change for mutual funds, even the best ones. That’s true for funds that seem to be alike. Subtle differences, however, can spell a noteworthy divergence in performance. A case in point is the contrast between good funds from Dimensional Fund Advisors and Vanguard Investments.
It’s no secret that you need to save for retirement. You can’t start investing willy-nilly, though. Introspection and self-honesty help achieve the savings outcome you want.
Stocks return 7% a year on average, according to Wharton Professor Jeremy Siegel’s famous study, not 7% in any given year. But averages can give us a good indication of what to expect as long as we have a large enough sample size, spread over a long enough time.
Rising rates and economic weakness is a recipe for market slumps. The likelihood, though, is that the pain will be short-lived, as it has been in the recent past.
Creating a budget, building an emergency fund and paying off debt: After building this solid foundation for your financial plan, now you start investing to meet long-term goals.