How to Support Your Retired Parents Without Sinking Your Own Retirement Plans

Denise Clark was at her wits’ end. Her elderly mother, who had already drained a modest 401(k) and tapped the family home for a home equity line of credit, wanted Clark and two siblings to subsidize her living expenses. Items included non-essentials such as a brand-new car loan and generous birthday gifts for extended family members, to the tune of …

Three Simple Habits That Will Help You Stick To Your 2020 Budget

It’s that time again! The end of the year (in fact the end of the decade!) is upon us, and a lot of us are starting to set goals for the upcoming year. For many people, those goals involve being more controlled and conscious about spending in 2020. You may be setting a budget, trying to stick to a spending …

8 Ways to Help Family Members in Financial Trouble

During times of hardship, one of the first places many people turn for help is to their loved one and family members. Often people fall into financial difficulties if they experience the sudden loss of a job or are impacted by expensive medical bills. Many well-meaning family members have found themselves sucked into the financial abyss by the problems of …

A Recession Hasn’t Arrived (Yet). Here’s Where You’ll See It First.

For a few weeks last summer, you would have been forgiven for thinking the United States was racing headlong into a recession. Financial markets were in turmoil, once-confident business leaders were suddenly jittery and seemingly every financial news outlet was warning that the economy was in trouble. As the year comes to a close, the fever seems to have broken. …

The Season Of Gratitude: How To Fuel Your Mindset And Your Finances

While I work on being grateful every day throughout the year, the holiday season is a time I try to be especially focused on gratitude. Over time, I’ve found that there is an interesting connection between gratitude and finances – the more grateful you are for what you have, the more mindful you become about making decisions that most align …

Don’t fall for these common Social Security misconceptions

Dear Liz: I decided to start taking Social Security benefits this summer when I turned 62. My monthly benefit is $1,809. My wife turned 62 at the end of last year and started her benefit of $841 a month. I just accepted an unexpected job offer that will pay me more than $130,000 a year. I suspect I should consider …

7 Winning Tactics For Disconnecting From Work During The Holidays

One of the best things about the holidays is the opportunity to disconnect from work, but sometimes that plan can backfire to say the least. Too often, the intended relaxing respite is plagued by intermittent work distractions, early morning or late evening email checks or just the additional mental stress of worrying about the work piling up during the absence. …

This Is What Millennials Can Actually Expect From Retirement, According to Experts

When the hashtag #MillennialRetirementPlans went viral a couple of months ago, the visions were predictably dystopian from a generation that has faced serious financial headwinds: retiring to a van down by the river, sleeping in your mom’s hospital room closet, and working until you drop dead in a meeting that could have been an email. It’s true that millennials, the …

Last Tax Season Was a Mess. Now’s Time to Prepare for This One.

The first tax season under the Republican-sponsored overhaul brought an odd combination of pleasant and unpleasant surprises: lower tax burdens, but also lower refunds — and, for some, an unexpected bill. Anyone who didn’t take a proactive approach after getting a big tax bill last time around could end up in that situation again, only worse: That filer is more …