Retirement planning

‘I want to stem the shrink.’ I’m 66 and my Social Security check is only going to be about $1,000 a month. My only savings is in a 401(k) that is ‘currently shrinking weekly.’ Should I get professional help?

‘I want to stem the shrink.’ I’m 66 and my Social Security check is only going to be about $1,000 a month. My only savings is in a 401(k) that is ‘currently shrinking weekly.’ Should I get professional help?

Do you need a financial adviser? Getty Images/iStockphoto Question: I’m trying to determine if seeking a financial advisor is warranted for a 66-year-old senior whose only savings is in a 401(k) and currently shrinking weekly. My husband is a retired teacher so we do have his pension, but he didn’t pay into Social Security for …

‘I want to stem the shrink.’ I’m 66 and my Social Security check is only going to be about $1,000 a month. My only savings is in a 401(k) that is ‘currently shrinking weekly.’ Should I get professional help? Read More »

Social Security adds safety protocols to protect people facing long wait times in adverse conditions

Social Security adds safety protocols to protect people facing long wait times in adverse conditions

A Social Security Administration office in Sebring, Florida. Jeff Greenberg | Universal Images Group | Getty Images The agency’s service difficulties date back to before the pandemic, said Maria Freese, senior legislative representative at the National Committee to Preserve Social Security and Medicare. “The Social Security Administration has been underfunded, shortchanged for over a decade …

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I’m 65 and want to retire in 6 months. I have a $125K annuity, plus $100K of money that I’m not sure what to do with. Should I get professional help?

I’m 65 and want to retire in 6 months. I have a $125K annuity, plus $100K of money that I’m not sure what to do with. Should I get professional help?

Is a financial planner right for you? Getty Images/iStockphoto Question: I had $225,000 in my 401(k) and then I rolled over $125,000 to an annuity at 7%, as I wanted income. I just turned 65 and want to retire in six months, but I don’t know what to do with the other $100,000. What should …

I’m 65 and want to retire in 6 months. I have a $125K annuity, plus $100K of money that I’m not sure what to do with. Should I get professional help? Read More »

‘I fear that between the two of us, that's not enough.’ We want to quit working in 10 years, but only have about $175K saved. Do we need professional help?

‘I fear that between the two of us, that’s not enough.’ We want to quit working in 10 years, but only have about $175K saved. Do we need professional help?

Some things to consider if you’re thinking about hiring a financial adviser. Getty Images/iStockphoto Question: I’m 54 years old and have an IRA account with $27,000 in it, but it’s been decreasing over the years even though I contribute $100 per month. I have the funds allocated between mid-cap value funds, core-plus bond funds, investment …

‘I fear that between the two of us, that’s not enough.’ We want to quit working in 10 years, but only have about $175K saved. Do we need professional help? Read More »

Investors are piling into annuities this year to protect from market losses. What to know

Investors are piling into annuities this year to protect from market losses. What to know

Annuities have previously gotten a bad rap as coming with too many fees and being overly complicated. But this year, they’ve hit their stride. Annuity sales surged 22% to a record $77.5 billion in the second quarter of 2022, according to preliminary data by Limra. It’s the most money investors have poured into the assets …

Investors are piling into annuities this year to protect from market losses. What to know Read More »

If you're 'unretiring' and collecting Social Security, here's what to know before heading back to work

If you’re ‘unretiring’ and collecting Social Security, here’s what to know before heading back to work

Kelvin Murray | Getty Images A combination of record high prices and a record number of job openings has been encouraging more retirees to go back to work. The trend, called “unretirement,” rebounded this spring to pre-pandemic levels. About two-thirds, or 68%, of retirees would consider returning to work, according to a recent CNBC All-America …

If you’re ‘unretiring’ and collecting Social Security, here’s what to know before heading back to work Read More »

Gen-Zers In Their First Bear Market: How They're Coping.

Gen-Zers In Their First Bear Market: How They’re Coping.

Ella Gupta made her first investment when she was 10. With the help of her parents, she took half the profits of her bracelet-making business and invested in the stock market. At 14, she opened a Roth IRA, after beginning her first job cleaning dental instruments. Now, at 17, Gupta is confronting her first bear …

Gen-Zers In Their First Bear Market: How They’re Coping. Read More »

I’m 40 and married with 2 kids. How aggressively should I invest my money right now, and should I own crypto?  Here’s what 5 financial advisers told him to do now.

I’m 40 and married with 2 kids. How aggressively should I invest my money right now, and should I own crypto? Here’s what 5 financial advisers told him to do now.

Should crypto be a part of your overall investing strategy? Getty Images/iStockphoto Question: I’m 40, married with two kids and gainfully employed. I’m wondering how aggressively I should be investing in the market if I’d like to quit my job somewhat early. What should my portfolio diversity look like right now, and should I invest …

I’m 40 and married with 2 kids. How aggressively should I invest my money right now, and should I own crypto? Here’s what 5 financial advisers told him to do now. Read More »

Early retiree shares 13 'stupid simple' money rules that helped him save $1 million: 'I wasn't born rich'

Early retiree shares 13 ‘stupid simple’ money rules that helped him save $1 million: ‘I wasn’t born rich’

I will remember December 23, 2016 for the rest of my life. It was my last day working a full-time job. My wife and I retired early at 33 and 35, respectively, after accumulating $870,000 working in information technology. With the help of the market, our net worth increased to $1 million shortly after. I …

Early retiree shares 13 ‘stupid simple’ money rules that helped him save $1 million: ‘I wasn’t born rich’ Read More »