A retirement crisis looms. Americans aren’t saving enough, and the aging of the population may require trimming Social Security benefits eventually. Congress recently passed the SECURE 2.0 Act to help people save more for retirement by boosting tax breaks. It builds on the original SECURE Act. Three provisions will affect the most people. Required minimum… Continue reading SECURE 2.0 Act Lets Retirees Defer Taxes on Retirement Plan Money Longer
Tag: Money
Long-Term-Care Insurance via an Annuity Has Many Pros, Some Cons
Long-term care–whether at home, in assisted living or in a nursing home, costs a lot—especially if it continues for years. To protect their finances and leave something for their heirs, many people would like to buy long-term-care insurance (LTCI). But LTCI isn’t cheap. And there’s a big drawback. If you buy it and never collect… Continue reading Long-Term-Care Insurance via an Annuity Has Many Pros, Some Cons
The Risk of Generosity
Older adults’ willingness to give away money is associated with decreased cognitive function, according to a study published in the Journal of Alzheimer’s Disease. These results suggest that an increase in this behavior, known as financial altruism, could be linked to the early stages of Alzheimer’s disease. The stud, funded by the National Institute on… Continue reading The Risk of Generosity
How To Shop for a Fixed-Rate Annuity So You’ll Get the Best Deal
One annuity may pay more than twice as much as much as a similar one—comparison websites make shopping easy. If you’re looking for a haven for your money, with a three-year fixed-rate annuity, you can choose one paying 2.00% annually or one paying 4.25%! Other than the rate, the two products are quite similar. If… Continue reading How To Shop for a Fixed-Rate Annuity So You’ll Get the Best Deal
How Money Affects Health Care
Where you live shouldn’t determine how well or how long you live, but it does. The American Heart Association (AHA) recognizes that medical care alone is insufficient to ensure better health and well-being: about 80% of a person’s health is determined by factors other than access and quality of clinical care. When people don’t have… Continue reading How Money Affects Health Care
Beware of Bogus Cancer Fundraisers
Crowdfunding for alternative cancer therapies has soared in recent years. But researchers fear that huge sums are being raised for treatments that aren’t backed by evidence and may even, in some cases, do harm. The study, by the Good Thinking Society, a British charity that promotes scientific thinking, was published by The BMJ. Because of… Continue reading Beware of Bogus Cancer Fundraisers
Is Your Partner Wrecking Your Financial Literacy?
As couples mature together, they often grow apart in their level of interest and skill in handling their finances. A disparity in financial literacy that may be small or even nonexistent at first can increase over time depending on how much responsibility one partner undertakes, according to researchers at The University of Texas at Austin… Continue reading Is Your Partner Wrecking Your Financial Literacy?
Money Problems and Alzheimer’s
People with Alzheimer’s disease often have problems managing their money. In fact, money problems may be one of the first noticeable signs of the disease. Here, the experts from the National Institute on Aging tell you how to recognize, and handle, this problem. Early on, a person with Alzheimer’s may be able to perform basic… Continue reading Money Problems and Alzheimer’s
Money Buys Happiness – but Only Up to a Certain Amount
In order to be happy, researchers say, you don’t need unlimited amounts of money. “That might be surprising as what we see on TV and what advertisers tell us we need would indicate that there is no ceiling when it comes to how much money is needed for happiness, but we now see there are… Continue reading Money Buys Happiness – but Only Up to a Certain Amount
How to Turn Kids into Young Adults with Healthy Savings Habits
As Jodi walked to class that day the freshman noticed a large circle of booths spread out across the main courtyard of the campus. Scattered among the booths was one giving away free t-shirts with the school’s mascot on it. All Jodi had to do to get the free swag was fill out a form.… Continue reading How to Turn Kids into Young Adults with Healthy Savings Habits
4 Money Issues Couples Should Agree On
Spouses often harbor different opinions on a variety of subjects. From the style of clothes and haircuts they like on each other to the TV shows they watch every evening, marriage requires plenty of compromise. While frivolous things such as choosing between Monday Night Football and Dancing with the Stars might lead to a minor… Continue reading 4 Money Issues Couples Should Agree On
6 Ways to Fight The Financial Stress in Your Life
Trading in your morning coffee run to Starbucks for the pot of coffee in the office is never fun, but when finances get tight that drive-thru stop might be one of the first things to go. But do you really need to give up the little things in life that make you happy? Al Zdenek… Continue reading 6 Ways to Fight The Financial Stress in Your Life
What’s Stopping You from Having Financial Freedom?
Money – it’s a topic we all have in common. Lack of money, excess of money, hard-earned money, easy money – it’s something that affects everyone. But few people have seen money from as many angles as I have. From being born into extraordinary money as the daughter of an oil magnate, I’ve had it, lost it, found it again and… Continue reading What’s Stopping You from Having Financial Freedom?
Relax, Boomer Parents: Millennials Are More Financially Savvy Than You Think
Millennials came of age at a time when the job market was weak and their student-loan debt was high. Such a dreary combination did not bode well for a rosy financial future. But could it be, when all is said and done, that millennials will prove to be just as financially savvy as their baby… Continue reading Relax, Boomer Parents: Millennials Are More Financially Savvy Than You Think
Teaching Money Lessons to Kids Who Don’t Have It Tough
The hardest thing about upward mobility – the so-called American dream – is attaining it. Perhaps the second hardest thing is this: Once you’ve risen from a hardscrabble upbringing and gained financial success, how do you pass the traits that helped get you there – hard work, accountability, passion and discipline – on to your… Continue reading Teaching Money Lessons to Kids Who Don’t Have It Tough
Your Relationship With Money
Should I buy it, or shouldn’t I? Do I have enough; how much is enough? Should I conserve or risk? Are my partner and I in sync? These are just some of the questions that bounce around our heads, sometimes consciously, sometimes lurking beneath the surface. Do you ever wonder why? The answer isn’t always… Continue reading Your Relationship With Money
Single Women and Retirement Savings
In many ways, single women face the same problems as men when they consider how to retire with enough income, with one exception: They worry more. Women in general are more likely than men to put money into their workplace retirement account and one third of women, according to a survey, said their savings plans… Continue reading Single Women and Retirement Savings
Are You Cooking Too Much Food for Your Loved Ones?
Serving too much food to loved ones– whether on holidays or weeknight dinners – ends up wasting food and money, researchers say. The study was performed by experts from the Cornell Food and Brand Lab, Embrapa, and the Getulio Vargas Foundation in Brazil Prior to this study, little was known about how affection relates to… Continue reading Are You Cooking Too Much Food for Your Loved Ones?