When it comes to imagining our retirement, most of us are in uncharted territory. People in their twenties and thirties today will live longer than any generation in history. If they retire around age sixty-five they’ll need to keep supporting themselves for two or three more decades—longer than any other generation has ever gone without working.
Not every family needs to go for broke, literally, when it comes to saving for college. The fact that 80% of our nation’s kids attend public colleges tells us that we’re not the first ones to have this bright idea.
During this shaky financial time many companies have gone out of business. Please address what will happen to the 401k. Some folks have lost everything because the company considers a 401k their property.
College has never been more important, but paying for it gets harder every day. In fact, tuition costs have grown at twice the rate of inflation over the past 15 years, and the average student graduates with twice the debt he or she did just 10 years ago.
Too many of us watch the years go by and hope that Social Security will take care of it. But, that’s dangerous thinking. In Congressional testimony, the chairman of the Federal Reserve Board, Allen Greenspan had this to say. “The dramatic increase in the ratio of retirees to workers that seems inevitable, as the baby boom generation moves to retirement and enjoys ever greater longevity, makes our current pay-as-you-go social security system unsustainable.” That means that we need to prepare for our own retirement.
When planning a budget should I use extra money to pay off credit card debt? Or should it go in a savings account?
Some months I can save some money and some I can’t. I have heard the saying “always pay yourself first”. When I do that it seems that I have to withdraw that money later on in the month to pay the bills. So how does this actually work? Should I always pay myself first?
A young couple is trying to decide how to best save the extra money they’ve been accumulating each month. They’re interested in either putting the money in a savings account or a low-risk investment, but they aren’t sure which one is their best choice. Learn about the pros and cons of each option, and decide for yourself whether a savings account or low-risk investment is the best choice for you.