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#retirement savings
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from24/7 Wall St.
1 week agoIt's Kind of Insane More Americans Don't Know The One Factor That Doubles Retirement Savings
Northwestern Mutual's 2024 Planning and Progress study revealed the simple step that Americans have taken to double their retirement savings. According to the research, those who work with a financial advisor have around twice the retirement investment account balances compared to people who try to manage their retirement investing all on their own with no professional advice. The research showed that those who have a financial advisor guiding them have around $132,000 in retirement savings, compared with $62,000 among those with no advisor.
Retirement
fromSubstack
3 weeks agoCan I Afford to Move #1: Should I Pay off My Mortgage?
I think it's worth starting with a few assumptions people make and treat like they're facts. Just because some guy on the internet, or your dad, or even me, your trusted Money Changes Everything writer says something with confidence does not make it a universal fact. Unfortunately, you have to interrogate the platitude, compare it to your actual life, then decide whether it applies to you at all. One person's platitude is another person's bullshit.
Retirement
SF real estate
from24/7 Wall St.
3 months agoLaid off at 55, This Is How I Plan to Manage $400,000 in Cash Without a Tech Job
55-year-old tech worker in San Francisco laid off unexpectedly has substantial retirement and brokerage assets, $450k cash reserve, manageable low-rate mortgage, and $70k annual expenses.
Startup companies
fromBusiness Matters
3 months agoFintech startup Chest launches app turning everyday spending into pension savings for Gen Z and millennials
An app that converts everyday cashback into pension contributions aims to engage younger, cash‑strapped consumers and grow long‑term retirement savings.
fromRefinery29
4 months agoI'm 31, I Make $166K & Egg-Freezing Treatment Has Me Struggling
Welcome toMoney Diaries where we are tackling the ever-present taboo that is money. We're asking real people how they spend their hard-earned money during a seven-day period - and we're tracking every last dollar.Today: a psychiatric nurse practitioner who makes $166,000 per year and who spends some of her money this week on a post-surgery Uber. Editor's Note and Content Flag: This is a follow-up diary.
Education
fromBusiness Insider
6 months agoA Gen Xer bumped her pay to $100K by taking on a second office job with her employer - and she works a side hustle to manage the stress
When Rivera started her second role in 2020, her pay increased to about $100,000 from roughly $60,000. Additionally, when she accepted the extra position, she initially worked 80-hour weeks but has since scaled back to about 60 hours.
NYC startup
Retirement
fromwww.ocregister.com
6 months ago10 sources of emergency cash, ranked from best to worst
Consider short-term securities and low-risk assets first when facing unexpected expenses.
Roth IRA contributions allow penalty-free withdrawals but may jeopardize retirement savings.
Cash values from life insurance policies can provide emergency funds when needed.
A 401(k) loan, while helpful, could negatively impact long-term retirement savings.
Retirement
fromMoneywise
7 months agoNYC man lost $114K - his entire 401(k) - after his physical check from Paychex was stolen. So why do 43% of retirement savers still have to deal with this 'outdated' and 'insecure' method?
Paper-based 401(k) rollovers expose savers to significant risks including fraud, delays, and limited protections.
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