Retirees fall short of the retirement income replacement ratio

Mstudioimages | E + | Getty Images To maintain your standard of living in retirement, the rule of thumb is that you need to be able to replace at least 70% of the income you were earning while you were working. But many retirees fall short of this retirement income goal, according to research from … Read more

4 major movements of money in an uncertain economy, according to advisors

By most measures, the new year is off to a good start. However, economists and business leaders alike anticipate that there are more challenging times ahead for the market and the economy. Year-to-date, the S&P 500 and Dow Jones Industrial Average are up about 4% and more than 2%, respectively, while the Nasdaq Composite is … Read more

Don’t forget about your old 401(k) if you quit a job or were laid off

People Pictures | iStock | Getty Images Whether or not you leave your job by choice, don’t forget about your 401(k) plan. With workers continuing to leave their jobs at a high rate and some companies embarking on layoffs — including Amazon, Salesforce, and Goldman Sachs — there’s a good chance that some of the … Read more

Uncertainty in the markets is stressful, but these moves can prepare you

Hilary Cladky | moment | Getty Images Before looking forward to 2023, we should take a moment to think about 2022. The following quote from Jason Zweig of The Wall Street Journal sums up this very difficult year for investors: “Investing is not a test of intelligence; it is a test of character.” In fact, … Read more

Longevity can have a greater impact on retirement funds than inflation

Given today’s persistently high inflation, many Americans worry that they may not have set aside enough money for retirement. They fear that sharp increases in the price of food, energy, transportation costs, and medical care could drastically affect their retirement savings. However, there is another important factor to consider: life expectancy. A new report from … Read more

State-run IRA programs continue to grow as more options are launched

Storty | E + | Getty Images Whether you have access to a retirement plan through work increasingly depends, at least in part, on where you live. Over the past decade, 16 state legislatures have adopted retirement savings programs that target workers whose employers do not offer a 401(k) plan or a similar option. Some … Read more

The stock market will be watching these earnings numbers. This is why your portfolio is so important.

Corporate earnings season has just begun, and the fourth-quarter results that will stream in over the next couple of weeks could be very important to investors, Tommy Kilgore explains. Mark Hulbert looks at an important trend that we hope will not reverse this earnings season. More coverage as earnings season begins: The electric vehicle market … Read more

Amid inflation, nearly 1 in 3 adults receive financial assistance from parents

With the cost of living rising, many adults are turning to a familiar safety net: mom and dad. Nearly a third of millennials and Gen Zers, over the age of 18, get financial support from their parents, according to a new survey by personal finance website Credit Karma. The site surveyed more than 1,000 adults … Read more

Approaching the age of 62? What do you know about Social Security’s 8.7% COLA

Ascent / Pks Media Inc. | optical disc | Getty Images Existing Social Security beneficiaries are poised to receive an 8.7% increase in their 2023 benefits starting this month, thanks to the highest cost-of-living adjustment in 40 years. If you’re 62 or close to age, you may be wondering if you should claim benefits to … Read more

Here are 3 financial moves you must make at the beginning of the new year

Skyscraper | E + | Getty Images New year, are you new? Mostly not. One of the revelations that will likely emerge in 2023 is that you are pretty much the same person as last year. You don’t like to run or take vitamins all of a sudden. But sometimes it’s fine when things don’t … Read more