59 ½: The Retirement Turning Point
When you turn 59 ½, there are things that begin to happen. Most importantly: you can begin withdrawing from your retirement accounts, such as 401(k)s and IRAs.[1][2] This age is also very important because it can mark a shift in your investment and retirement strategy. Throughout your career, you are in what many refer to […]
What to Consider If You Think You’re Asset-Rich but Cash-Poor
There’s a chance that an individual may find themselves in a circumstance where they possess significant wealth in their house but lack sufficient cash in their bank account. Over the years, as you’ve been paying off your mortgage, the equity in your property might have accumulated greatly. But having substantial home equity doesn’t necessarily equate […]
Debt Ceiling Explained: What You Need to Know
Basics of the Debt Ceiling The national debt ceiling pertains to the maximum amount of funds the US Government can borrow to cover its expenditures. These expenses include various items such as military salaries and purchases, tax refunds, Social Security and Medicare benefits, and interest payments on any outstanding debt. The country currently operates with […]
EE Bonds: A Long-Term Investment Tool
EE bonds are a little-known type of bond that can be accessed through the US Treasury. However, the unique part about them is that they are guaranteed to at least double in price by the time they reach maturity, which is 20 years from when they were issued. These bonds could be a solid investment […]
The Impact of an Unstable Bank Industry on Your Retirement
In the past few months, three significant banking failures have occurred: Silicon Valley Bank (SBV), Signature Bank, and First Republic Bank.[1] This has generally resulted in concerns about a looming major recession. Numerous bank failures also initiated the 2008 financial crisis, causing experts to closely monitor the current market. The primary worry is that faith […]
Struggling to Save? You Might Not Be Alone
The current rate of monthly savings across America is currently at 4.6%. This means that most Americans are saving about 4.6% of their monthly income. This number is unusual as the average amount is almost double that number at 8%. Also, in June, this number dipped to a 15-year low of 2.7%.[1] Economists are noting […]
Will Generation X Be Able to Retire?
According to a study conducted by Investopedia, retirement is the top concern for Generation X. The survey revealed that even though many members of this generation consider themselves knowledgeable about their finances, they still worry about being prepared for retirement. Almost 25% of Gen X individuals are uncertain about their retirement plans and are not […]
Should You Consolidate Your 401(k) Accounts?
Many workers today have switched jobs multiple times over the course of their careers. If that applies to you, you may have several retirement plans from several different companies, and you may be wondering if you should combine them together. First, let’s talk about your options when you leave a job. You can do one […]
What Are the Differences Between ETFs and Index Funds?
ETFs and index funds are two popular investment vehicles that provide investors with exposure to a diversified portfolio of securities. While both investment options closely track a particular market index, they differ in several key ways. One significant difference between ETFs and index funds is the way they trade. ETFs trade like individual stocks, with […]
A Review of the Current Debt Ceiling
Background The US government is facing a critical decision regarding the debt ceiling, a cap on government borrowing that affects only the ability to pay existing bills, not to approve more spending. Currently, the US is getting perilously close to the current limit of nearly $31.4 trillion, at which point it could lose the ability […]