You raised them, helped get them through school, and now your children are on their own. Or are they? Even adult children sometimes need financial help. But if your child asks you for a loan, don’t pull out your checkbook until you’ve examined the financial and emotional costs.
Each year in its annual Retirement Confidence Survey, the Employee Benefit Research Institute reiterates that goal setting is a key factor influencing overall retirement confidence. But for many, a retirement savings goal that could reach $1 million or more may seem like a daunting, even impossible mountain to climb.
Most of us think of life insurance as protection against financial loss should we die prematurely. But if and when we reach retirement and the kids are all self-sufficient, do we still need life insurance? The answer is maybe–or maybe not. Here are some situations where life insurance may make sense for retirees, or those close to retirement.
Understanding financial matters can be difficult if you don’t understand the jargon. Becoming familiar with these 10 financial terms may help make things clearer.
Even if you have the best of intentions, it’s easy to overspend. Even if you’re generally comfortable with how much you spend, you may occasionally suffer from a case of buyer’s remorse or have trouble postponing a purchase in favor of saving for a short- or long-term goal. Here are a few key questions to consider that might help you fine-tune your spending.
Traditional economic models are based on a simple premise: people make rational financial decisions that are designed to maximize their economic benefits. In reality, however, most humans don’t make decisions based on a sterile analysis of the pros and cons. While most of us do think carefully about financial decisions, it is nearly impossible to completely disconnect from our “gut feelings,” that nagging intuition that seems to have been deeply implanted in the recesses of our brain.
Throughout our financial lives, we may be influenced by myths, mistakes, and misunderstandings (MMMs). Here are just a few.
The release in April of the long-awaited report from the United Nations’ Intergovernmental Panel on Climate Change has spurred renewed discussion of ways to combat climate change and its effects. The report, written by leading scientists from around the globe, says that to keep greenhouse emissions below critical levels, the world must make substantial changes–and quickly–in how energy is produced and consumed. That finding has focused fresh attention on so-called “green investing.” Here are some considerations that can be especially important in this arena.
There are many ways to try to reach a future goal. You can save now, or you can save later (or perhaps do both). But there is an advantage to putting your savings and earnings to work for you as early as possible.
You’ve marched along to Pomp and Circumstance and collected your diploma–now you’re ready to finally head out on your own. Maybe you have student loans that you need to start paying back. Perhaps you’re looking forward to making your first car purchase or starting a new job. Whatever your situation, you’ll definitely have new financial challenges you’ll need to address and financial goals that you’ll want to accomplish during this stage in your life. Fortunately, there are some relatively simple steps you can take to get started on the right track with your personal finances