Sean Murphy | Stone | Getty Images If you’re taking a hefty check from your 401(k) plan as you leave your employer, you might be making a big mistake. Just over 9 out of 10 employers give their employees multiple options to take a distribution from their retirement plan, according to a new survey from
Personal finance
It’s possible to be a successful investor without a deep grasp of markets, economic principles and math. When it comes to managing your day-to-day finances, that may not be the case. Ric Edelman, founder of Edelman Financial Engines, says the answer isn’t clear-cut. “Yes, your actions matter more than your attitude,” Edelman said. “But your
When it comes to love, debt can be a dealbreaker. These days, one-third of millennials would consider breaking up with their significant other because of a financial secret, such as hidden debt or a bad credit score, according to TD Bank’s fifth annual Love and Money Survey released Tuesday. Still, more than 1 in 4
Sticking to a household budget is apparently difficult. As in, really difficult. While 74% of people say they have some sort of budget, 79% don’t stick to it, according to new research from SlickDeals.net, a crowd-sourced shopping platform. The average weekly amount consumers spend — not counting bills such as mortgage or rent, utilities, etc.
Jose Luis Pelaez Inc | DigitalVision | Getty Images Children are pocketing an average of $30 a week in allowance — enough to rack up around $1,500 in a year. But most of them won’t be able to make a big buy with allowance money. Only 3% of parents say their kids primarily save their
If your employer doesn’t offer a retirement plan, a new option might change that. A federal rule now in effect allows companies to team up through certain employer groups and professional organizations to offer a shared 401(k) plan to their workers. The rule, which aims to expand the use of so-called multiple-employer plans, comes as
U.S. Treasury Secretary Steven Mnuchin talks to reporters about cryptocurrency in the Brady Press Briefing Room at the White House July 15, 2019 in Washington, DC. Mnuchin said the Treasury is very concerned about Facebook’s Libra cryptocurrency and that he wants the government to “make sure that the U.S. financial system is protected from fraud.”
Getty Images When public safety technologies company Axon wanted to change the performance incentives for its CEO, Rick Smith, the company took it one step further. Now, the company’s employees are able to participate in an aggressive compensation plan that’s tied to the public company’s goals. The plan mirrors the same incentives Smith is working
Today’s reality: Before you decide on which college to attend, you have to come up with a way to pay for it. To that end, families are relying on financial aid more than ever before to help cover the skyrocketing cost of tuition. More than 8 in 10 families tap scholarships and grants — money
EAST RUTHERFORD, N.J. — On a morning in mid-September, former National Football League player Patrick Kerney stood in front of an audience of rookies from the New York Giants. His agenda: to help the young players avoid bad spending habits, as well as teach basic money management and investing concepts. “When you decide to spend
AndreyPopov | iStock | Getty Images Want to save up for a down payment? Stay home with your kids? Earn a degree? It may seem impossible, but people throughout the country give up a salary to make it happen. If you want to manage on one salary, there is a magic bullet. It’s managing your
Julie Thurston | Getty Images It’s cram time for entrepreneurs and other taxpayers with complicated income tax returns. That’s because the Oct. 15 deadline for taxpayers who filed for an extension with the IRS is right around the corner. Though these same taxpayers were able to get more time to work on their 2018 tax
Westend61 | Westend61 | Getty Images Ed Gjertsen II, a financial advisor in Northfield, Illinois, knew something was fishy when an elderly and infirm client started cashing checks at a local bar. It was out of character for the investor, a single man in his 70s. “These were small checks: $500 here, $1,000 there,” said
Bettmann | Getty Images If you want to know where the wealthy prefer to put their money, you might be surprised to find out it’s in cash. A Capgemini report found that cash surpassed equities for high-net-worth individuals as their No. 1 asset class in the first quarter of 2019. The reason: market uncertainty. In
Getty Images If you’ve been racking your brain about where to retire on a budget, it might be time to think outside the U.S. A report by International Living, which publishes information about living abroad, lists destinations where you can coast on less than $30,000 a year. To be sure, retiring in a new country
Can you spare $5 a day? If so, you could become a millionaire — one day. “If you start in your 20s with a couple of reasonable investments, you can’t avoid becoming a millionaire,” said Michael Taylor, author of “The Financial Rules for New College Graduates.” However, many young people are delaying or refusing to
If the ups and downs of the stock market have you wondering what to do, you’re not alone. Stocks tanked in August, neared record highs in September and Goldman Sachs is predicting a wild ride in October. On top of that, a recent UBS survey found that 55% of the ultra-rich see a recession by
michaeljung | iStock | Getty Images Employers and workers will shell out more cash for health insurance in 2020. Large companies predict the total cost of workplace health-care coverage to reach an average of $15,375 next year, according the National Business Group on Health. That’s up from $14,642 in 2019. This figure combines workers’ and
skaman306 | Moment | Getty Images The advice: Don’t get emotional about your money. The reality: Money touches almost every part of your life. Unless you live off the grid, it’s a hard fact that money buys your food, shelter and transportation, not to mention current recreation and distant projects. The possibility of losing it
Jamie Grill | Getty Images Slow down as you pick out your employee benefits for next year. Your household finances could depend on it. Open enrollment season — a period in which employees update their insurance coverage and other perks for the upcoming year — is just around the corner. It’s tempting to merely choose