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Are you a member of the “Sandwich Generation?” This designation — which applies to people caring for their aging parents while supporting their own children — may be applicable to you if you’re either a younger baby boomer, born in the late 1950s or early 1960s, or an older member of “Generation X,” born in the mid-1960s. But any way you slice it, being in the “Sandwich” group is probably going to present you with some challenges, particularly of the financial kind — so you’ll need to make the right moves.
Throughout your career, you have been working hard to save in one or more retirement accounts. Then, once you retire, you’ll have some new decisions to make. But one choice has already been made for you: the age at which you must start taking withdrawals, or “distributions.” It’s a good idea to familiarize yourself with these distribution rules because they can have a big impact on your retirement income. And you may even want to take action before the end of the year.
The Phoenix City Council approved the recommendations from the committee to end pension spiking on Thursday morning by a slim margin, but several council members said the recommendations did not go far enough to actually end pension spiking.
At many places of work, it’s “open enrollment” season — the time where you get to make changes to the various benefits you receive from your employer. As you review your overall benefits package, what areas should you focus on?
Generally speaking, if you’re efficient at a particular task, you’ll get good results without wasting effort. As you’ve already learned from your life experiences, it’s usually far better to be efficient at something than to be inefficient — and that’s certainly true with investing.
Congress has designated the third week in October as National Save for Retirement Week — which means it’s a good time to think about your own retirement savings strategies.
Did you know that you could take charge of your own retirement funds and invest them in virtually anything that you believe can make you money, and where they are more secure from market fluctuations?
You probably have thought about what you’d like to do during your retirement years. But all your plans probably depend, to at least some extent, on your financial situation. What happens if you reach the age at which you wish to retire and you just don’t have the money you thought you’d have?
Fall is almost officially here — and if you’re like most people, you’re probably wondering how summer went by so fast. Those trips to the lake or the beach are fading in memory now, giving way to helping kids with homework, raking leaves and the other rites of autumn. And just as your day-to-day tasks change with the seasons, so, too, will your money management and investment activities at different phases of your life.
National Grandparents Day is observed on Sept. 8. And although this “day” is not as widely known as Mother’s Day or Father’s Day, it does remind us of the importance of grandparents. If you’re a grandparent yourself, you may be thinking of ways to help your grandchildren on their journey through life. One of the greatest gifts you can give them may be financial support for their college education — and one way you can help provide this support could be found in the distributions you receive from your retirement accounts.
As you’re well aware, we’re living in difficult economic times. Consequently, you may be forced to make some financial moves you wouldn’t normally undertake. One such move you might be considering is taking out a loan from your 401(k) plan — but is this a good idea?
Almost everyone would agree: Moving is a hassle. In addition to selling your current home and finding a new one, you may need to deal with a new school for your kids, a new doctor, a new dentist — the list goes on and on. But you’ll also need to consider the financial aspects of your move — specifically, your investments, insurance, taxes and even your estate plans.
If you’re somewhat familiar with investing, you may know that the Roth IRA is a great retirement-savings vehicle. But are you aware that some of its benefits can also pay off for the next generation of your family?
The council member from District 6 represents about 1/6 of the city of Phoenix, or 250,00 citizens. This includes about 1/6 of the people who work for the city of Phoenix, or 2,500 citizens. Ignoring the charges thrown, the major issue becomes clear from listening to the candidates recently, reading letters from their supporters and looking at the signs posted in the neighborhood. It is whether our next council member will represent 2,500 citizens or the other 99 percent.
If you’re planning to get remarried, you have plenty of company: More than 40 percent of all U.S. weddings are second marriages for at least one of the participants, according to an estimate by the National Stepfamily Resource Center. Naturally, a second marriage will bring many changes to your life — not the least of which may be changes in your financial strategy and goals.
Within a marriage, a man and a woman’s financial circumstances are generally pretty much equal. But if a divorce occurs, the woman’s situation tends to be somewhat more challenging than that of her ex-spouse. And that’s why, during this major life transition, you may want to meet with a professional financial advisor to go over your spending needs and your cash flow, so that you know what you absolutely need today — and how you can plan for tomorrow.
Like everyone else, you want to leave a legacy. To make it happen, though, you need to do some estate planning. For most of us, that sounds like a scary task, but it doesn’t have to be — as long as you break it down into a few key moves.
If you’ve just had a new baby, your life is filled with more joy (but less sleep). You’re probably already aware of the time and effort you must invest in raising your child, but you may not have thought as much about another aspect — the financial one.
Will you ever receive a sizable inheritance? You can’t plan on it. But if you do get one, you can plan on using it to help achieve some of your key financial goals.
As Americans, we’re used to thinking that we will inevitably do better than our parents’ generation. But, for now at least, this type of progress may be facing some roadblocks — and this inability to gain ground, financially, can have real implications for today’s younger people and their approach to investing.
Despite the soaring stock market of the past few years, some Americans are nervous about their ability to retire comfortably — or even retire at all.
State lawmakers were moving toward finally adjourning their 151-day session late Thursday -- but not before setting the stage for constituents to have to start paying taxes on what they buy from catalogs and on the World Wide Web.
I am tired of reading articles denigrating public worker pensions. Let’s get one thing straight; teachers, policemen, firefighters and municipal workers did not crash the economy. It was crashed by unregulated banks and financial institutions with the blessings of Congress, who were later rewarded with bailouts while middle-class Americans bore the brunt.
Here’s a sobering statistic: 46 percent of workers surveyed had little or no confidence that they will have enough money to live comfortably throughout their retirement years, according to the 2010 Retirement Confidence Survey, issued by the Employee Benefit Research Institute. So you may want to explore all possible retirement savings vehicles —including a variable annuity.
Next week, we observe Earth Day. First celebrated in 1970, Earth Day has grown into an international movement whose goal is to raise awareness of the need to take action to sustain a healthy, sustainable environment. You can do your part through recycling and other measures, but you can also apply some of the lessons of Earth Day to your financial situation — and, in particular, to your approach to investing.