Posts by gregoryricks
People actually are happier when they make more money: Wharton study
Conventional wisdom suggests that “money can’t buy you happiness.” And well-known research from 2010 had shown that people tend to feel happier the more money they make only up until a point of about $75,000 a year. But according to a new study out of University of Pennsylvania’s The Wharton School, people’s well-being rises with…
Read MoreIRA Calculation Errors
Five things that people get wrong about retirement arithmetic. There is something about retirement that leaves investors in an arithmetic fog. Maybe it’s the marginal tax rate or the compounding or the deferral that gets their numbers all jumbled up. Here are five things that people get wrong about IRAs and 401(k)s, usually because they…
Read MoreWednesday Q&A Is my credit score a big deal in retirement?
Is my credit score a big deal in retirement? Is it a big deal to have good credit in retirement? Gregory explains the importance of your credit score. 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 Have questions about…
Read MoreBonds Are Sending a Message: Inflation Is Coming
The stock market has been the path to wealth for generations of American families. That’s even though only about half of them have shares; in fact, the richest 1% of U.S. households account for more than half of the equities ownership, according to Federal Reserve data. In most cases, the route that has been taken…
Read MoreYou Can Buy BMW’s Entire Modern History Right Now
The start of the ultimate BMW collection is available right now, so long as you have a few million lying around. BMW has always emphasized its own heritage. From shared kidney grilles to product lines that trace their origins back half a century, the company has always defined itself by how it has built on…
Read MoreHow to withdraw from your traditional 401(k) account early — the strategies to avoid penalties and fees
Withdrawing money from your 401(k) early is not recommended, since the amount is subject to 20% income tax, plus a 10% IRS penalty. While it’s hard to avoid the tax, there are ways to avoid the 10% penalty, including a loan and a hardship withdrawal. Temporary changes to the rules under the CARES Act may…
Read MoreTypical Retirement Savings By Age Groups: Are Yours Bigger?
Are your retirement savings growing as fast as other people’s in your age group? Did the conoravirus knock your retirement off track? The answer might be surprisingly upbeat. In a season filled with distressing news about the coronavirus pandemic, disappearing jobs, lost income and — don’t forget — civil strife and racial injustice, some Americans are constructing very…
Read MoreWhen will we be going to concerts and sporting events again? Here’s what experts are saying
KEY POINTS Attending sports event or concerts with packed crowds probably won’t happen until 2021 at the earliest, say health experts and government officials The entertainment, arts and recreation industry has cut its new job openings by a higher percentage than any other industry since the Covid-19 quarantines began, according to data by CareerBuilder. Large…
Read MoreHow to Be a Great Virtual Grandparent
7 ways to strengthen the grandparent-grandchild bond while sheltering in place Credit: Adobe Nothing is “normal” these days. While we don’t yet know how bad COVID-19 will ultimately be, we do know that people over 60 are at particular risk for complications, should they become ill. That has many grandparents sheltering in place and unable…
Read MoreHow to Protect Older People From the Coronavirus
People over 60, and especially over 80, are particularly vulnerable to severe or fatal infection. Here are some steps to reduce their risk. Amid the uncertainty swirling around the coronavirus pandemic stands one incontrovertible fact: The highest rate of fatalities is among older people, particularly those with underlying medical conditions. Of the confirmed cases in China to…
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