During his NFL career, Terrell Owens says he “got sucked into wanting to be like everybody else, the guys with the Mercedes and all the flashy cars and jewelry.” Getty Images for PBABowleroCorp Former...
Tag: Retirement planning
I’ll be 60, have $95,000 in cash and no debts — I think I can retire, but financial seminars ‘say otherwise’
I will be 60 in September, have $95,000 in cash, work part time ($30,000 yearly) for insurance and contribute 10% plus the employer match of 8% to a small 401(k). My home and car are paid for, I don’t...
Medicare and HSAs don’t mix — what near-retirees need to know
Dear Ms. MoneyPeace, I am retiring this year and trying to understand Medicare. At this point I am covered fully by a company plan. I turned 65 last fall and plan to retire in August or September. Wh...
We are in our 50s, living in California, and have $2 million in retirement savings. We want someone to tell us whether we can feasibly retire — what’s our best bet there?
Getty Images Question: We are a single income couple in Southern California, ages 56 and 54. We are looking for a fee-only financial adviser to assess our financial situation and provide a one-time co...
‘I don’t have any other debt’: I have $40,000 in student loans, but saved $70,000 due to deferred payments. I live in the Bay Area. What should I do with this money?
I am a single 35 year-old with $40,000 remaining in federal student loans. In early 2020, I was super lucky to land a great new job that significantly increased my income. This was the middle of the p...
How to invest in the stock market and never lose money
Fixed index annuities are not the only way you can invest in the stock market and be assured of not losing money over the short term. That’s because there’s a do-it-yourself alternative that avoids th...
Why Vanilla Investors Think They Need $3 To $5 Million
Cropped shot of a senior man using a calculator while reviewing his … [+] budgethttp://195.154.178.81/DATA/i_collage/pu/shoots/805516.jpg getty Finally, food! The kids had their slices. I had a ...
Capital Gains and Dividend Tax Rates for 2022-2023
Investors who have taxable accounts—as opposed to tax-favored retirement accounts such as individual retirement accounts (IRAs) or 401(k)s—are often eligible for lower tax rates on investment income a...
I’m 57 and will soon have more than $3 million from a business sale. My rich boss trusts his financial adviser, but he inherited his millions. Still, should I try his adviser?
Have a question about your financial adviser or looking for a new one? Email [email protected]. Getty Images/iStockphoto Question: I am 57 years old, have $450,000 saved for retirement and will so...
‘When we retire, we lose a lot.’ How to avoid retirement shock.
When I found myself unexpectedly packaged off by the bank, I was initially very happy. I was planning to leave anyway because the stress was getting to me. When the bank gave me a severance check at a...
State IRA programs work toward closing the racial retirement savings gap
Maskot | Maskot | Getty Images The income and wealth gaps between people of color and white households is wide, but state-run retirement programs are attempting to help workers find parity. As many as...
How can I save my long-term care insurance after a premium hike?
I am 78 years old and have been a long-term care policyholder for approximately 20 years. My premiums started around $1,500 per year. The annual rate was scheduled to increase every five years. By the...
Retirees struggling to stay afloat: How to keep health and economic issues from draining your savings
Dorri Olds, a 61-year-old freelance writer and graphic designer, says she has spent nearly all her savings to refurbish her New York City apartment. In an emergency, she says she would sell it and con...
Moving in Retirement to Cut Tax Costs? Consider These 4 Factors First.
When an affluent suburban Chicago couple came to John Campbell, senior wealth strategist at U.S. Bank Private Wealth Management, planning to retire in New Mexico because of its weather and lower incom...
I’m retiring, what do I do with my 401(k)? You have 4 choices, but only 3 are good.
You have to make a lot of decisions when you retire, and among the biggest is what to do with your workplace retirement savings. No matter how much money you have or how you intend to invest it, you h...
I’m 73 and will only have my 401(k) after retiring. How do I make it last?
I am 73 years old and still employed full time. I will receive no retirement benefits when I leave my job except for a 401(k). My question is: what is the best way to handle this 401(k) without losing...
The Only 401(k) Savers Who Didn’t Lose Money in The Past Year
The only workers whose 401(k) balances grew in 2022 were the Gen Z savers still decades away from retirement, according to new data from Fidelity Investments. While the average nest egg among Fidelit...
Nearing retirement? Here’s how to shift your portfolio from growth to income.
Over the decades, perhaps you’ve been very good at saving your money and investing it for long-term growth. But when the time comes for you to stop working or to step back to a part-time job, you migh...
We’re in our 60s and have lost $250,000 in our 401(k) plans — can we still retire?
I am a 61-year-old female who has worked for the same financial institution since the age of 16. I will have 50 years at the company if I retire at 66. I’ve lost over $150,000 in my 401(k) this past y...
Should you buy an annuity for your retirement?
Annuities are a popular retirement income vehicle with many insurance agents, registered representatives and financial advisers. They probably have as many supporters as detractors. Here are some of t...
At 55 years old, I will have worked for 30 years — what are the pros and cons of retiring at that age?
Dear MarketWatch, I currently own one home, no mortgage with rental income. I own another home that will be paid off the year I turn 55. Both valued at $750,000. I have a 401(k) and other stocks and...
I’m a single dad earning $100,000 – how do I maximize my retirement dollars?
Dear MarketWatch, I make over $100,000 a year, and expect to for the foreseeable future. As of now, I am contributing 8% of my income to my 403(b) with a 3% 401(a) match; all Roth. It would be more, ...
My fiancé and I are 60. His adult daughter is opposed to our marriage — and insists on inheriting her father’s $3.2 million estate. How should we handle her?
What advice would you give to a widow and widower considering marriage on how to manage finances — and deal with adult children? We are both 60 years old and plan to work a few more years, mostly for ...
Will Warren Buffett retire? What to look for in his annual letter.
Warren Buffett is an inspiration to retirees everywhere. In the 27 years since he reached what the Social Security system said was his full retirement age, shares of his Berkshire Hathaway BRK.B, +0.0...
The Way Americans Retire Has Changed Forever. Saving a Nest Egg Isn’t Enough.
About the author: Martin Neil Baily is a senior fellow at the Brookings Institution. He was Chairman of the Council of Economic Advisers under President Clinton. He is the co-author, with Benjamin H. ...
Silicon Valley Bank CEO Greg Becker cashed out $2 million just before the collapse
The chief executive of Silicon Valley Bank SIVB, -60.41% cashed out stock and options for a $2.27 million net gain in the weeks before Friday’s collapse, public filings show. CEO Greg Becker exercised...