How to save $1 million for retirement on an annual salary of $70,000

Consistently saving a small percentage of your salary is a simple way to ensure you’re prepared for retirement. As a rule of thumb, most financial advisors suggest you save 10% to 15% of your ea...

The wealthy now have more time to avoid estate taxes

If your family has significant wealth, it’s now easier to avoid federal estate taxes, thanks to recent changes from the IRS. The IRS improved a strategy known as “portability,” used ...

Experts answer three tricky questions about Series I bonds

The demand for Series I bonds, an inflation-protected and nearly risk-free asset, has skyrocketed as investors seek refuge from soaring prices and stock market volatility. While annual inflation rose ...

How to buy Series I savings bonds via TreasuryDirect

Eakgrunge | Istock | Getty Images There’s been record demand for federal Series I savings bonds, an inflation-protected and nearly risk-free asset, offering an eye-popping 9.62% annual return th...

Retirees traveling check Medicare coverage to avoid costly surprises

Tom Merton | Getty Images If you’re a retiree on Medicare and feel the itch to travel, be sure you know whether your insurance plan can go with you. Whether you want to hit the road for a U.S.-b...

Investors revisit muni bonds amid higher yields and strong credit

David Jakle | Image Source | Getty Images It’s been a tough year for municipal bonds, with investors cashing out amid rising interest rates. However, higher yields and strong credit may be spark...

Marketing Foods To Millenials

Millenials were born between 1981 and 1996 and are now aged 26 to 41 – they are a close second to the baby boomers – with approximately 72 million Millenials here in America. SNIPPResearch is a resear...

Why Baby Boomer & Gen X Retirement May Leave Millennials Coming Up Short

A wave of retirements have accelerated a major pilot shortage — but the airlines are not the only … [+] industry facing a worker shortfall. getty Summer travel dreams are in the making. Soon peo...

Inflation is the ‘top problem’ facing America, survey shows

A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Meanwhile, President Joe Biden also has faced blowback over continu...

Here’s why inflation may be less costly for some retirees

A shopper at a San Francisco grocery store on May 2, 2022. David Paul Morris | Bloomberg | Getty Images Inflation is a growing concern as Americans spend hundreds more every month. But some retirees m...

Nearly seven in 10 Americans want to live to 100, study finds

Despite fears of outliving savings, most Americans still want to live longer, a study on longevity and retirement shows. Nearly 70% of Americans want to live to age 100, with 29 years as the “id...

Your new ‘retirement’ home could be a cruise ship

Jeff Farschman, 72, is a serial cruiser from Delaware who spends months at sea in retirement. Jeff Farschman For nearly two decades, Jeff Farschman, 72, has spent his golden years like many other adve...

Worried about a recession? Here’s how to prepare your portfolio

FG Trade | iStock | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. “We all understand that markets go through cycles and reces...

Here’s how much cash retirees need to weather a stock market downturn

Luminola | E+ | Getty Images Amid high inflation and rising interest rates, there are fears of a prolonged stock market downturn, and some retirees may be vulnerable without a cushion of cash, financi...

Here’s where financial advisors say I bonds may work in your portfolio

I bonds are currently paying 9.62% annual interest through this October, presenting an opportunity for investors with a range of goals, according to financial experts. These assets, backed by the fede...

Money decisions by women will shape the future for the U.S.

The rising economic power of women in this country is one of the most significant financial shifts of recent decades. The bottom line: Women are generating and managing an increasing amount of wealth ...

I bonds to deliver a record 9.62% interest for the next six months

Marko Geber | DigitalVision | Getty Images If you’re eyeing ways to fight swelling prices, I bonds, an inflation-protected and nearly risk-free asset, may now be even more appealing. I bonds are...

Most Americans still feel optimistic about retirement, survey finds

Ipggutenbergukltd | Istock | Getty Images Despite the pandemic, most Americans still feel optimistic about a comfortable retirement, but inflation is the top concern among those who aren’t as pr...

These are the best and worst U.S. places to die, report shows

Your end-of-life experience may be very different depending on where you live, according to a Policygenius report that ranks the country’s best and worst places to die.  The report gave each sta...

High inflation may prompt consumers to change summer vacation plans

Summer vacations plans could be in flux this year. This time, it’s not because of Covid-19. Instead, high prices due to inflation may prompt prospective travel goers to switch up their plans. In...

74% of people don’t think they will ever achieve high-net-worth status

cdwheatley | E+ | Getty Images People have wide-ranging views of what it means to be “high net worth,” according to a survey from digital wealth manager Personal Capital. Yet most people —...

Hit with an unexpected tax bill? It’s time to adjust your withholdings

Georgijevic | E+ | Getty Images If you had a surprise tax bill this filing season, it may be time to adjust your withholdings, financial experts say.  Whether you’re a W-2 employee or self-emplo...

Worried about rising inflation? Nearly risk free I bonds may soon pay 9.62%

Eakgrunge | Istock | Getty Images Less risk often means lower returns. But that’s not the case with I bonds, an inflation-protected and government-backed asset, which may soon pay an estimated 9...

Why Biden’s billionaire minimum income tax may be a tough sell

Josh Gottheimer, D-N.J., talks to reporters in Washington, Nov. 4, 2021. Elizabeth Frantz | Reuters President Joe Biden has proposed a new tax on the ultra-wealthy as part of his 2023 federal budget, ...

Last chance for some retirees to avoid a 50% RMD penalty is April 1

If you turned age 72 during the second half of 2021, the deadline for your first annual required withdrawal from retirement accounts is April 1. In many cases, it’s the last chance to avoid a he...

How to avoid a 6-figure tax penalty on foreign bank accounts

Chuyn | Istock | Getty Images Whether you’re an expat or U.S.-based, you may need to report your foreign accounts to the U.S. Department of the Treasury by April 15 — or face costly tax penaltie...

Inflation is spiking the cost of pets. But owners are still splurging

Halfpoint Images | Moment | Getty Images Pet parenthood is getting more expensive, but many owners are still willing to splurge, according to a report from Rover, an online pet marketplace. Rising cos...

Inflation is causing some older Americans to delay retirement plans

As inflation rises, many Americans are shifting life milestones, including retirement. Some 13% of Gen Xers and baby boomers say they have postponed or considered delaying plans to leave the workforce...

Inflation isn’t likely to crush retirees for these expenses, report finds

High gas prices at stations in Garden Grove, California, on Monday, March 7, 2022. Jeff Gritchen | Medianews Group | Getty Images Inflation has continued to increase amid the Russia-Ukraine conflict a...

Here’s how urban and rural Americans build wealth differently

Doug Langley clears the combine harvester’s head from weed before he starts harvesting, during the wheat harvest in Shelbyville, Kentucky, June 29, 2021. Amira Karaoud | Reuters Many rural Ameri...

Considering a Roth IRA conversion? Here’s how to reduce the tax bite

If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say.  The popular retirement savings strategy allows higher earn...

How to score a tax write-off for 2021 donations if you don’t itemize

If you’re one of the millions of Americans who gave to charity in 2021, you can still claim a write-off on this year’s tax return.  There’s a deduction for cash gifts up to $300 for ...