Now that it’s 2021, required minimum distributions (RMDs) are back.
Now that it’s the start of a fresh new year, I’m hoping you have a few financial resolutions ready to go. If you’re resolving to save more, you are not alone. “Save more money” is the top financial resolution for next year among those considering a resolution, according to the recently relea…
The importance of having savings certainly has been brought to the forefront during the COVID-19 pandemic, as many people found themselves living on, and often exhausting, their emergency savings due to illness or job loss.
If it weren’t the year 2020, right around now, I would be cautioning IRA owners over 70 1/2 to make sure they withdrew their required minimum distributions (RMDs) from their individual retirement accounts.
It’s December, and if you haven’t yet made your charitable contributions this year, now is the time, especially since 2020 contributions are subject to new, more favorable tax treatment.
When it comes to bills, do you prefer getting a printed statement in the mail over an electronic statement online? In a Consumer Action survey of a few years ago (tinyurl.com/yxq69wc3), 78% of those surveyed who received paper bills by mail said they actually reviewed their statements; only …
If you are participating in a retirement plan at work, are you changing your activity because of the pandemic? Most participants are not, even though the COVID-19 market was a roller coaster between Feb. 19 and March 23. One-day declines and advances in the S&P 500 index made it to the t…
When the investing apps Robinhood, Acorns and Stash came on the scene, a new type of saver emerged, one who could save money when making purchases (a microsaver). Then came the microinvestor, a saver who could buy small-dollar amounts of shares of stocks.
Known as the “Big Five,” five questions can predict your ability to make good financial decisions. This is the conclusion drawn by researchers who conducted a study between 2012 and 2018 of 1,500 Americans to test basic financial knowledge.
When I speak with investors, whether they invest on their own or with the help of financial professionals, I’m always curious about how they monitor progress. How do they know they are on track? How do they judge performance? Are they happy with the results?
“Matt,” a 65-year-old reader of this column, is about to retire with a substantial 401(k). He has never invested on his own, only through his 401(k). Luckily, his pension and Social Security retirement benefits cover the amount of money he needs to live on to support himself right now.
In 2016, Congress made permanent the QCD or qualified charitable distribution for people at least 70 1/2 years old who wanted to benefit charities. The charity had to be qualified, and there were other requirements to effect the QCD properly, as set out in IRS Publication 590-B.
It seems there is a special day for just about everything you can think of. As I write this column (Oct. 2), it’s National Name Your Car Day — and, yes, I’ll admit to naming my first car a long time ago.
What do you think about in September? If you are like me, September brings up memories of going back to high school after a summer of pure bliss. This year, due to the coronavirus, things are a little different.
Have you made an investment decision during the coronavirus market that you regret? Perhaps you sold out of your stock investments or stock mutual funds in March when news headlines were dire?
During this pandemic, you're probably not thinking about celebrating 401(k) Day, especially since it occurs on the first Friday in September after Labor Day, which happens to be 9/11 this year.
It seems that seniors will never get a break. Fraudsters continue to prey on them with all sorts of scams. If you have a senior in the family, there’s no better time than now to talk about just a few of the tricks that most people — of any age — may not be aware of.
COVID-19 has had an effect on all of our lives, affecting not only health but also jobs and personal finances. Some people are encountering new challenges, such as being unable to pay bills on time.
An important deadline is fast approaching that applies to anyone who wants to reverse an RMD (required minimum distribution) from a retirement account in 2020. That deadline is Aug. 31.
No matter what type of investor you are, there are some very basic “truths” that drive investment activity. One such truth is that you cannot predict the direction of the market with any certainty. As some say, “stuff happens.” That truth translates into my worldview: To be successful as an …
The song “You Can’t Always Get What You Want” describes how people feel about retirement these days. That’s the song chosen by nearly half of the respondents in a survey released on July 29 by the Alliance for Lifetime Income, a nonprofit educating Americans about protected lifetime income i…
I recently had a conversation with a Connecticut reader about balanced mutual funds. The objective of a balanced fund is to “seek” income and capital appreciation.
The difficult period we are experiencing as a result of the COVID-19 pandemic has a related, unsavory aspect: It has opened an opportunity for scammers to take advantage of people, especially seniors.