To help you decide what kind of financial advice is best for you, see if your situation is similar to this hypothetical client:
As a 20-year-old, saving for retirement can easily fall to the bottom of the priorities list.
College graduates must focus on repaying their loans and paying rent wherever they may have moved for a career, although several would rather backpack and see the world before making their next career moves. Add to all of those ambitions potentially accrued debt and it could spell a recipe for disaster.
A 36-year-old makes as much as $130,000 in a day, yet still lives at home. He buys sandwiches late in the afternoon to save 75¢. He organizes his life around commuting only in cheaper, off-peak hours.
With the closing of the 2014 tax deadline a few weeks ago, we will soon find out if there was an increase in charitable deeds by investors. Aside from pure generosity, the forces likely driving gift-giving the past year boil down to two key components — an increase in stock market gains and higher income taxes.
LAKE MARY, Fla. – Studies show nearly 10-million adults are caring for their aging parents — a number that is sure to increase as the population ages.
Many of these children are being put in positions they were ill prepared for, unaware of mom and dad’s financial standing. Many are finding insufficient funds for what could be the most expensive years of their parent’s lives.
NEW YORK (MainStreet) — Missing out on an employer 401(k) opportunity is the most obvious retirement savings mistake a worker could make. 401(k)s are an employee-sponsored savings vehicle. Contributions are made directly from someone’s paycheck and, depending on the account type, are either taxed immediately or tax deferred.
NEW YORK (TheStreet) — An employer-sponsored plan allows an employee to contribute pretax dollars into an investment account for retirement savings. These plans offer several tax benefits, including tax-deferred contributions until withdrawn, and employers are allowed to deduct those allowable contributions for each participant.
When you turn over your hard earned money to a financial advisor, you would expect that your best interests will be taken to heart. In the end, that’s not always the case.
NEW YORK (MainStreet) — Here is what you could do on today: go to a nearby bank, stand in line, deposit your paycheck, and ask the teller to give you $100 cash back, in a mix of 20s, 10, and 5s.