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Posts by gregoryricks
Most workers wait years for a company’s 401(k) matches to vest
Many workers who stash money in a 401(k) retirement plan get some sort of matching contribution from their employer — it just may be a while before that money is entirely theirs. While the majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, just 28%…
Read MoreBorrowing From an IRA to Buy Real Estate
Financial adviser Sarah Brenner lays out the possible benefits and significant risks related to using IRA funds to buy real estate. By Sarah Brenner The real estate market is hot. It is a seller’s market in much of the country and buyers face challenges. They may need to move quickly or come up with cash…
Read MoreThe Federal Reserve now forecasts at least two rate hikes by the end of 2023
KEY POINTS Wednesday’s forecast showed 13 members of the Federal Open Market Committee believe the Fed will increase rates in 2023 and the majority of them believe the central bank will hike at least twice that year. In fact, seven of the 18 members see the Fed possibly increasing rates as early as 2022. The…
Read MoreWhen claiming Social Security at age 66 makes sense
The conventional wisdom to wait until age 70 isn’t always right By how much do you think your investments will beat inflation over the course of your retirement? As you think about your answer, you may find it useful to review the data in the table below. It reports the annualized returns over all 20-year…
Read MoreWednesday Q&A How can inflation affect my investments?
How can inflation affect my investments? Inflation can affect different types of investments in different ways. Gregory goes over the types and how they can be affected in this short clip. Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY We’re Here to Help…
Read MoreHow to Know When Inflation Is Here to Stay
Inflation is here already, and in the long run there is a lot of upward pressure on prices. But between now and then lies a big question for investors and the economy: Is the Federal Reserve right to think that the price rises we’re seeing now are temporary and will abate by next year? Some at the…
Read MoreDoes your state tax social security benefits? Here’s why that’s crucial to your retirement strategy
If you’re concerned about how much income from Social Security you’ll receive after taxes you might want take note of the following: Thirteen states tax Social Security benefits, according to a recent Tax Foundation analysis. And that would be on top of taxes you might pay the IRS if you’re collecting Social Security, older than full…
Read MoreHere’s what happens if you default on your student loans
Defaulting on your loans has some serious consequences. Select explains what happens if you default, plus how to avoid it. For many student loan borrowers, the amount they pay toward their debt each month is not insignificant. In fact, the average monthly student loan payment is currently $393, which can be an overwhelming expense if you’re…
Read MoreEvery state offers a different 529 plan—here’s how to pick the best one for you
May 29 is nationally recognized at 529 College Savings Day, a day (mostly celebrated by a niche group of higher education experts and personal finance enthusiasts) to draw attention to the tax-advantaged savings plans offered by all 50 states and the District of Columbia. First created in 1996, 529 plans are state-sponsored investment accounts that savers…
Read MoreDoes your state tax social security benefits? Here’s why that’s crucial to your retirement strategy
If you’re concerned about how much income from Social Security you’ll receive after taxes you might want take note of the following: Thirteen states tax Social Security benefits, according to a recent Tax Foundation analysis. And that would be on top of taxes you might pay the IRS if you’re collecting Social Security, older than full…
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