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Thinking of Buying a Fixed Annuity? Ask These Questions First
Of all the types of annuities out there, a fixed annuity is the one that’s most straightforward. Is it the one that’s right for you? by: Ken Nuss Fixed-rate annuities are popular because of their guarantees, simplicity and higher rates than most competing products. A fixed-rate annuity — also known as a multi-year guaranteed annuity —…
Read MoreHow A 2% Solution Can Be The Key To Increasing Your Retirement Security
GETTY Many people try the wrong route to building their retirement wealth, or rebuilding it after a market decline. The wrong way is to look at only a small part of the financial picture instead of the whole picture. Looking at the whole picture can lead you to faster, easier ways to increase retirement security.…
Read More5 times you should consider meeting with a financial planner
You may need a financial planner to help reorganize your money when a baby comes along. Klaus Vedfelt/Getty Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent…
Read MoreIRS Expands CARES Act Tax Breaks On Retirement Plan Distributions, Loans
The IRS expanded the number of taxpayers who qualify to tap into their retirement plans using the generous provisions of the CARES Act. The IRS also answered questions about details of distributions and loans under the CARES Act that have been asked by employers, employees, and plan administrators. The Coronavirus Aid, Relief, and Economic Security…
Read More13 Frugal Habits of the Super Rich and Famous
Becoming wealthy and staying that way takes a certain level of discipline. Sure, an occasional splurge won’t put you in the poor house, but frequent frivolous spending can quickly erode your net worth. The frugal habits necessary to achieve financial success and maintain it can be surprisingly simple. Read on to meet 14 business leaders…
Read MoreHow the Federal Funds Rate Affects Your Wallet
Jerome Powell is the finance world’s Cardi B. As the chair of the Federal Reserve (aka America’s central bank), Powell is the face of a lot of gov money moves that affect you. Like changing the federal funds rate. That’s an important percentage that influences everything from inflation to what you pay to borrow money. Increasing rates means the…
Read MoreNo Emergency Fund and No Job. Now What?
Short on income and cash? Here are five steps you can take now to manage through this crisis. Caught in the crossfire of economic meltdown? Unfortunately, you’re not the only one. In the last week of March, nearly seven million Americans filed for unemployment. That number shatters the previous peak of 665,000 claims filed the…
Read MoreRoth IRA Conversions are on Sale
Many retirement savers can get an extra-good deal on Roth conversions right now. Here’s why. Getty Images While we hope for an end to the current coronavirus pandemic, there may be a silver lining for retirement savers during this time of disruption. If you can manage doing a Roth IRA conversion, you’ll likely pay a…
Read MoreTry These 5 Things Before Prematurely Taking Money Out Of Your Retirement Savings
GETTY There are plenty of reasons to avoid taking money out of your retirement savings before you retire. “These are emotional times and it can be tempting to take funds from a retirement plan to pay for current expenses,” says Allison Brecher , General Counsel at Vestwell in New York City. “Participants closer to retirement age should…
Read MoreWarren Buffett isn’t buying but says one stock market bet still makes sense.
Key Points Berkshire Hathaway Chairman and CEO Warren Buffett has long said that owning an S&P 500 stock market index fund is the best bet long-term investors can make. Even as Covid-19 makes the billionaire concerned about stocks, including the airlines he sold, as well as the extreme nature of Fed policy needed, Buffett still…
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