Personal Finance

(Liz Brumer-Smith) Down markets aren't fun. Volatility, market swings, and notable losses in portfolio earnings can be hard for any investor to stomach. Turbulent times like we're seeing today can even lead some investors to make big mistakes that, more often than not, make your portfolio worse off in the…

Dear Liz: I am pondering the best time to begin drawing Social Security. I have no debt, am 61, retired and fortunate enough to have retirement funds that are projected to last until I’m 95 without Social Security. That said, when I begin drawing Social Security, I understand I am likely to get taxed at the full 85% rate based upon the monthly…

Embarking on a journey towards financial freedom is a goal shared by many yet understood and achieved by few. It’s a path of accumulating wealth and mastering economic principles and strategies that can lead to independence and security. In this article, we’ll explore ten secrets to guide you toward this goal, wherever you are in your financial…

(James Brumley) If you're like most investors, your ultimate investment goal is securing the best retirement possible. Most people also understand achieving this goal requires taking on the inherent risks of owning stocks. Bonds, real estate, and commodities are certainly capable of producing positive…

Putting aside at least $400 in savings has long been recommended as an initial savings goal by personal finance experts. That's because for years $400 has been a benchmark emergency expense used in the Federal Reserve's annual survey of household economics. However, that amount "hasn't kept pace with the reality of how much these emergency…

New York CNN  —  A growing number of cash-strapped Americans are cracking their nest eggs for emergency funds. The number of 401(k) plan participants taking hardship distributions increased by 13% between the second and third quarters, according to an analysis by Bank of…

Siblings Sunem and Israel Tovar have a combined investment portfolio worth $327,000. They keep each other accountable and have even taught their extended family how to invest. They started the Dream Teacher Project to help other teachers of color…

(Maurie Backman) Will Social Security's next cost-of-living adjustment (COLA) make 2022's seem negligible? There's reason to believe it might.Granted, it's too soon to land on a solid estimate because we need third quarter data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)…

In the ever-evolving landscape of retirement aspirations, Americans find themselves adjusting their financial targets for the golden years.The new magic number is $1.8 million, up from the previous benchmark of $1.7 million, According to the latest 401(k) Participant Study by Charles Schwab. But the study reveals a noteworthy paradox — while…

Debt expert Nika Booth started her journey in 2018, following Dave Ramsey's advice to cut back on all discretionary spending. Soon, she realized depriving herself of fun spending was sabotaging her debt payoff efforts. She regrets making four…