As inflation continues to bite, more Americans are under severe financial stress. According to the Fed’s “Economic Well-Being of U.S. Households in 2022” survey, 37% of adults do not have enough funds to even cover a $400 emergency expense. On top of that, credit card debt is starting to creep up again, surpassing $1 trillion for the first time in …

Americans are living longer. Consequently, they are spending more time in retirement, with the average person enjoying 20 years of life after they stop working. But those longer lifespans require that we prepare for all these years and make sure our nest eggs will adequately cover this time. One way to do that is with a fixed annuity. This typically …

Having a solid retirement plan is more important than ever, particularly as concerns grow over the viability of the U.S. Social Security system in the coming decade.  There are several steps you can take to shore up your finances and have in place a strategy for setting money aside to fund your retirement lifestyle. Unfortunately, many people make crucial missteps …

While 69% of workers are confident they will be able to fully retire with a comfortable lifestyle, just three in 10 actually have a written financial strategy for retirement, according to the 22nd Annual Transamerica Retirement Survey. Despite the confidence, 63% of workers agree with the statement, “I do not know as much as I should about retirement investing.” Preparing …

Many people decide to roll over their 401(k) plan to an IRA after they switch employers since they won’t be able to make contributions to the account after they leave their former employer. However, people who are 59½ or older may be able to roll their 401(k) over while still working for their current employer and still avoid early withdrawal …

To help you better manage your finances during this time of decreased earnings, we offer the following pearls of wisdom: Take care of your body — Health care is one of the largest expenses in Americans’ retirement years. According to the Fidelity Retiree Health Care Cost Estimator, an average retired couple age 65 in 2022 may need approximately $315,000 saved …

Life insurance premiums aren’t cheap — but the cost of not having life insurance can be devastating for your loved ones. Too many families and small business owners overlook the foundational financial planning step of getting sufficient life insurance protection in place. According to LIMRA, about 48% of U.S. families are significantly underinsured, and about 37 million Americans have no …

Growth of new businesses being launched during the COVID-19 pandemic has led to a rise in the number of self-employed people, but it raises the question of how they will be able to plan for their retirements when they are not eligible for employer-sponsored 401(k) plans. Because of these uncertainties, many small entrepreneurs envision never stopping working which becomes more …

As the new year gets underway amid fears of a looming recession and stock market gyrations, now is a good time to take steps to bolster your savings and financial plans. Pundits expect continued volatility as the Fed weighs more interest rate hikes to tame inflation, which have been roiling the stock market. Inflation has ebbed, the housing market has …

Bear markets and economic downturns are nerve-wracking. And in some cases, they’re downright painful. But economic cycles should be expected. If the financial news has you reaching for the blood pressure meds, here’s what to keep in mind. 1. Don’t panic People tend to make their worst investment decisions when things look like they’re going very, very poorly, and when …