Michael H | Digitalvision | Getty Images The fear of missing out, or FOMO, can be a powerful psychological force — and it may lead unwary investors to lose bundles of money, according to financial adv...
Tag: Personal finance
Will the stock market be higher in 12 months? Here are the odds.
Odds are good the stock market will be higher in 12 months’ time. The probabilities are two out of three, in fact. These odds are not based on any privileged insight into whether the economy will expe...
Why retirement calculators fail the people who need them most — and what to do about it
Or were you so overwhelmed by the steps and questions that you only increased the amount you were saving by a little bit — or not at all? If you fall into the latter category, don’t feel bad. A new st...
Opinion: Your HSA can be an extra retirement savings — how to make smart choices during open enrollment
It’s open enrollment season, which means it’s time for most workers to choose benefits for the year ahead. Health insurance is one of the most popular benefits that workers review yearly, but there is...
Why I don’t want I-bonds
There’s been such a rush to buy “I-bonds,” inflation-protected bonds from the U.S. government, that the TreasuryDirect website crashed. I-bonds have been one of the hottest investments of the year. Pe...
‘When we dated for 5 years, he implied he was financially secure’: My husband was always hesitant about his finances. Now I know why.
Dear Quentin, My husband and I make about the same salary, and live modestly. Six months after we married, I found out my husband’s net worth is virtually zero. He owes more money than he has assets (...
TreasuryDirect crashes as investors try to beat key I bond deadline
Shapecharge | E+ | Getty Images Investors crashed the Treasury Department website for Series I bonds on Friday as they clamored to lock in a record-high interest rate before a key deadline. I bonds ha...
Why to prepare your finances for recession despite strong GDP report
Dimitri Otis | Stone | Getty Images The U.S. economy grew in the third quarter, reversing a negative trend from the first half of the year — but weakness looms under the surface and households shouldn...
‘We are facing a retirement crisis in our country,’ says head of TIAA, as ‘40% of Americans run the risk of running out of money’
“ ‘We are facing a retirement crisis in our country’” — Thasunda Brown Duckett, president and CEO of TIAA That’s CEO of TIAA Thasunda Brown Duckett, who oversees some $1.2 trillion of retirement asset...
Opinion: There’s a rush to buy I-bonds to lock in a high yield, but there may be an even better deal next week
It’s hard to imagine that there could be a better deal for parking up to $10,000 in savings than Series I bonds, at this very moment. The 9.62% yield is top-notch, and you can count the hours before i...
Americans think they need $1.25 million to retire. Is that even enough?
Americans think they need $1.25 million to retire comfortably, new research suggests, but while that number may seem hefty — it still may not be enough. A study from Northwestern Mutual released this ...
Millions of working Americans are living paycheck-to-paycheck — and running out of cash as another recession looms
Inflation is taking its toll on people’s emergency funds. The share of workers who say they are living paycheck-to-paycheck has surged among middle- to high-income earners — 63% and 49%, respectively ...
Americans Say They Need $1.2 Million to Retire. Most Aren’t Saving Enough.
When it comes to retirement, Americans are simultaneously determining they need more stashed away to have a comfortable retirement and falling behind their savings goals. That’s according to two new s...
‘Ugly times’ are pushing record annuity sales. What buyers should know
Izusek | E+ | Getty Images Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers. Annuity sales in the third quarter of 2022 approac...
Young investors can retire rich—or super rich — by following these steps
Real life provides us with literally millions of individual financial scenarios, making it hard to dish out blanket investment advice. But if you’re in your early or mid 20s, you have a golden opportu...
My boyfriend has a nicer house, and says I should live with him. My mortgage is paid off. He believes I should pay half of his monthly costs. Is that fair?
Dear Quentin, My boyfriend owns a house with a 30-year mortgage balance of $150,000 on a 4% interest rate. He has $275,000 in cash and retirement accounts. He is retired. My house is paid off. I have ...
Personal savings have plunged — how to boost your savings in case of a recession
As red flags go, this is a big one. The personal savings of Americans have plunged this year, hitting $629 billion in the second quarter of 2022, according to data from the Federal Reserve Bank of St....
You must buy Series I bonds by Oct. 28 to get 9.62% annual interest
Insta_photos | Istock | Getty Images If you’re eager to secure 9.62% annual interest for Series I bonds for six months, the deadline is quickly approaching. You must purchase I bonds and receive...
How bad could it get for your 401(k)?
Probably the best argument for investing some more of our 401(k)s in the stock market right now is all the people telling us not to. As a general rule, it’s been a good time to be bullish when so many...
This 28-year-old’s side hustle brings in up to $267K per year
When Domonique Brown was growing up, she was the only Black kid in her class. “It was definitely tough for me to find things that represented me,” she said. She remembers how her father wo...
What to do with your cash if you’re retired or retiring soon
The saying goes, “cash is king,” but having a plan for how to make the most of it during a high-inflation environment is still the best strategy – especially for retirees and near-retirees. Read: Inf...
How to save above 401(k) deferral limits with after-tax contributions
If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer...
What investors need to know about the latest crypto tax reporting rules
Jose Luis Pelaez | Getty Images The IRS is sharing more details on how to report digital assets for the 2022 tax filing year, according to draft instructions. Since 2019, there’s been a yes or n...
Opinion: A seasonal stock market trade that tends to be reliable begins Thursday
The stock market has broken through technical resistance, and as a result the rally is trying to extend itself. Specifically, the S&P 500’s SPX, +2.46% close above 3800 points was a strong technic...