The goal of good health should be at the core of decisions you make about money. As any wise person will tell you—and many have, from the Roman poet Virgil to Gandhi—health is wealth. The irony is that the converse is also true—a growing body of research suggests that financial problems actually can lead to [...]
Don't wait to build your Emergency Fund Did you know that most financial experts recommend setting aside enough money in an emergency fund to cover three to six months' worth of expenses in the event of a major financial surprise? That's because a well-funded emergency account has the potential to get you through tough times [...]
Putting off retirement savings is a missed opportunity Most people start saving for retirement at 35—fully 10 years beyond the ideal age, according to a recent Financial Engines survey.1 Reasons to procrastinate are familiar to many. But delaying your savings can be costly, as the chart below shows. Let’s say Tom starts saving 6% of [...]
When changing jobs or leaving employment, decisions you make about taking money from your plan can have serious tax consequences. Here’s what you need to know. Your Options Pros Cons 1. Roll over to an IRA Continue tax-deferred growth Avoid early withdrawal penalties Have flexible investment options Can choose a Roth after-tax IRA Consolidate your [...]
In your 20s, the horizon seems limitless. You’re in your first grown-up job, making a regular paycheck. You may be tempted to spend it on fun stuff. But here are four areas that should take priority. Pay off credit card debt. If you carry a hefty monthly balance, or are just paying the minimum interest, [...]
Getting into a regular savings groove starts with a single first step Working at a job in high school may help form lifelong financial habits with a big payoff. Gretchen, a 40-year-old registered nurse, started babysitting and working at a grocery store when she was 15. She regularly put half of her paycheck in a [...]
If you're ready to start investing or ramp up your current investment initiatives but there just doesn't seem to be enough money left over at the end of the month, don't give up. The following strategies could help you manage your money better and free up resources for your investment goals. Start budgeting. While most [...]
Did you know that most financial experts recommend setting aside enough money to cover three to six months' worth of expenses in the event of a major financial surprise? That's because a well-funded emergency account has the potential to get you through tough times without the need to spend other savings, such as assets earmarked [...]
