Retirement

If you know anything about 401(k)s, IRAs, and HSAs, you probably know that the first two are for retirement savings, and the last is for health care expenses. However, these accounts are actually more versatile than they may seem. Here are some unconventional ways to use some of these tax-advantaged accounts: Roth IRA as Emergency

Topline While the Federal Reserve has made progress cooling the economy, there has still been “little convincing progress” in bringing down wage growth and high inflation, according to analysts at Goldman Sachs, who predict that it will remain difficult for the central bank to get surging prices under control without a recession. Key Facts Markets

Covid-19 has brought us undeniable heartache and stress. However, it has also yielded some positive changes to our lives, and one of those is better and more widely used communication technology. Cell phones, especially smartphones, have become almost indispensable to daily life. Ninety-one percent of older adults own a cell phone and 53% of those

Share to Facebook Share to Twitter Share to Linkedin Do you need a financial advisor? The answer depends on different factors — the complexity of your finances, how comfortable you are managing investments, where you are in your wealth journey, and where you’d like to be. The advisor’s mission is to close the gap between

Tennis star Serena Williams announced her ‘retirement’ from tennis this week while challenging the very idea of retirement. In her interview with Vogue Magazine, Williams commented, “I have never liked the word retirement. It doesn’t feel like a modern word to me….Maybe the best word to describe what I’m up to is evolution. I’m here

In a perfect world, Medicare would cover every possible medical expense in retirement. But most retirees don’t live in that world, so they have significant out-of-pocket (OOP) expenses. According to a new study, “even with Medicare coverage and ignoring long term care, retirees face sizable out-of-pocket costs for premiums, copays, and uncovered services.” “One way

Topline The stock market surged higher on Wednesday after a better-than-expected inflation report for July, boosting investor sentiment as consumer prices fell for the first time in months, adding to hopes that inflation may have finally peaked. Key Facts The Dow Jones Industrial Average rose 1.3%, over 400 points, while the S&P 500 gained 1.5%

James Lathrop is a Republican candidate for State Treasurer in the state of Rhode Island—a state which has long been dominated by Democrats. Most notably, Gina Raimondo, currently serving as U.S. Commerce Secretary began her career in politics as Rhode Island State Treasurer before becoming Governor—supported by unprecedented out-of-state campaign contributions from Wall Street money

This question, posed recently to the Quora web site, elicited some 40 answers from Quora’s roster of “experts”, of which I am one. Most answers fell into one of two categories. One group said “yes” – based mainly on the diverse (and mostly non-verifiable) benefits of being out of debt. The second said “it depends”

Having heard this many times, I know it’s common for folks to say, “I’d off myself” or “I’d check out”. There seems to be a belief that if we ever did develop this sad disease, we would find a way to eliminate ourselves from it. That we would never want to lose our minds is

Topline The stock market jumped for a second day in a row after more economic data showed that pricing pressures eased in July, which added to investors’ hopes that inflation may have peaked—though some experts warn it could still be a long way to go before the Fed pivots away from its aggressive monetary policy

The big tax, climate, and health bill that Congress could pass as soon as Friday could substantially lower drug costs for millions of Medicare enrollees But older adults may not feel much of its impact for years. The bill, passed by the Senate and due to be considered by the House on Friday, would make

From facilitating the spread of Covid in Florida, to bullying kids about wearing protective masks and their sexual orientation, Governor Ron DeSantis has demonstrated reckless disregard for the public welfare and a willingness to say anything—no matter how outrageous—to garner headlines. Now, DeSantis, who has absolutely no financial experience, wants to dictate how trillions in

Topline With the stock market rising significantly from its low point nearly two months ago, tech stocks appear to be back in vogue after being shunned by investors during the widespread selloff earlier this year, once again leading the market higher as investors snap up shares. Key Facts Though investors piled into defensive sectors—such as

Many employers with Defined Benefit Plans provide an option for a retiree to take a lump sum instead of a monthly pension. With interest rates rising quickly, the calculations used to value a lump sum will likely change dramatically and may offer a significant timing opportunity. Lump Sum Math: Lump sums are computed with a

Topline Several Wall Street experts are warning that despite moving higher in recent weeks, the stock market still has further to fall—with recent gains likely to be nothing more than a “bear market rally,” as investor concerns about Fed rate hikes and slowing economic growth continue to weigh on markets. Key Facts Despite an earnings

Retirees are getting doubly squeezed by inflation and declines in their retirement savings; many pre-retirees are understandably worried as well. For many seniors, it’s a déjà vu from the 1960s and 1970s, when the United States experienced high inflation and stock market volatility. To address this issues and shore up your retirement finances, you’ll want

Topline Meme stocks surged higher on Monday—with shares of Bed Bath & Beyond jumping nearly 40%, while GameStop and AMC also rallied—as retail traders bought up shares in a coordinated effort, causing some experts to warn that meme stock mania has made a comeback. Key Facts Brick-and-mortar retailer Bed Bath & Beyond rose roughly 35%

A complete financial education should include learning about widespread unsavory Wall Street business practices—not merely the legitimate or meritorious. Young investors should be taught what happens day-to-day in the real world of finance, not just how things are supposed to work in a perfect world where everyone plays by the rules. Schools and professors who

“When in doubt, zoom out.” A lot of things that I’ll never remember cross my purview on Twitter, but this one from Sahil Bloom stuck. The rhyming helps, but it’s not just a clever line. It’s applicable in life and especially when dealing with money, where finding and maintaining perspective is vitally important. This is