Author: V. Alure

The dilemma: A 23-year-old earning $94,000 discovers her mother lacks a retirement plan. “My mom does not have any retirement savings at 58 years old,” a software engineer shared recently in a post to the subreddit r/PersonalFinance. “I asked my mom if she has a 401(k), and she didn’t know what a 401(k) was.” The daughter appears to be off to a strong start in her career, mentioning that she’s already saving for her future. But as her mother ages, she is reckoning with how her mom will pay for living expenses in retirement. “What should I do?” she asks.…

What Wall Street doesn’t tell you about the long-term return on your investments. Source link #shouldnt #fall #love #SampP

“Most people don’t blow up their budget because they’re careless,” one financial planner said. It happens because they neglect this critical detail. Source link #biggest #weakness #peoples #budgets #Heres #fix

Tax refunds are projected to be larger on average — and Americans are thinking hard about how to spend them. Source link #sobering #Americans #plan #tax #refunds #year

Blizzard warnings issued for New York area as storm heads to East Coast Source link #Blizzard #warnings #issued #York #area #storm #heads #East #Coast

A rapidly intensifying storm triggered blizzard warnings Saturday for New York City, New Jersey and Boston as communities along the East Coast prepared for the Sunday arrival of heavy snow and damaging winds.The National Weather Service increased its assessment of the potential severity of a storm that was projected to be much milder only days earlier.The weather service said 1 to 2 feet (about 30 to 61 centimeters) of snow was possible in many areas as it issued blizzard warnings for New York City and Long Island, Boston and coastal communities in New Jersey, Connecticut, Delaware, Maryland, Rhode Island and…

We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. After stashing money away for decades and letting it grow in your investment accounts, retirement means it may be time to finally start making withdrawals. But while it can be exciting to reap the benefits of your hard work, it’s also important to stick to a plan. You don’t want to take out too much money for your everyday expenses, travel and more and end up outliving your nest egg.…

Retirement planning involves saving up a large enough nest egg to cover your expenses, but it also entails being prudent about taxes. That’s why it’s important to understand how required minimum distributions (RMDs) — mandatory withdrawals from your tax-deferred retirement accounts like 401(k)s and individual retirement accounts (IRAs) — will factor into your tax bill. Here’s what you need to know, and how to potentially lower your tax burden. Must Read Experts are Bullish on Gold — Here's How to Get In Retirees: How a Small Gold Allocation Can Soften Losses When the Stock Market Wobbles Warren Buffett on Market…

“I have $650,000 in investments, $250,000 in life insurance and about $150,000 equity in my home.” Source link #financial #ducks #row #million #prevent #son #hit #inheritance #tax

We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. Being in debt can feel stressful at any point in your life — but it can be especially anxiety-inducing when you’re nearing retirement age. While it may be close to time for Social Security to kick in, your investment portfolio has a shorter time horizon to recover from market downturns, and debt payments can take a bite out of your wallet at a time when you’re preparing to no longer…