Key Takeaways: What is a safe amount to withdraw each year in retirement? The Center for Retirement Research at Boston College has found that many older Americans could be at risk of emptying their accounts by age 85, although half of them will live beyond then.[1] To avoid emptying your account prematurely, the 4% rule...
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College is a series of firsts for students. It’s the first time they’ll live on their own, be responsible for every meal, handle their laundry and even complete homework without you there to help. Still, parents struggle with whether or not that independence should come with financial help. Should your college student get an allowance,...
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Here’s what grandparents should know before giving college money to their heirs. If you’re a grandparent, you know how hard it is to resist the urge to give your grandchildren everything—the extra cookie, a special toy, even an expensive college education. In fact, you may already be funneling money into a savings account earmarked for...
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What is an emergency fund? Sometimes called a rainy day fund , an emergency fund is money that you set aside to serve as your financial safety net for when you need it. What qualifies as an emergency? To a certain extent, an emergency varies by the individual, but one way to think of it...
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There are many times during the year that can induce stress in people’s lives. The holiday season. Moving. An important work deadline. But a day that almost everyone considers universally stressful? Income Tax Day. While taxes can be confusing and time-consuming, tax time doesn’t necessarily have to be taxing. Stick to these tips to get...
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For Millennials, figuring out how and where to save money and invest it is a little trickier than for previous generations. In many ways this group has the same financial concerns of previous generations. They might be paying off student debt, saving for a house, putting money into retirement accounts, building an emergency fund and...
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