What number should you strive to reach? It is agreed that the earlier you start saving for retirement, the better. The big question on the minds of many savers, however, is: “How am I doing?” This article will show you some rough milestones to try and reach. (Keep in mind that you may need to save more or less than these amounts based on your objectives and lifestyle and income needs.)   At age 30, can you have the equivalent of a year’s salary saved? Some 30-year-olds have the equivalent of a year’s salary in debt, it is true; the

Wise money moves for parents under 40. As you start a family, you start to think about certain financial matters. Before you became a mom or dad, you may not have thought about them much, but so much changes when you have kids. Parenting presents you with definite, sudden, financial needs to address. By focusing on those needs today, you may give yourself a head start on meeting some crucial family financial objectives tomorrow. The to-do list should include:   Life & disability insurance coverage. If one or both of you cannot work and earn income, your household could struggle to

Compounding interest can be a wonderful thing. Everyone is told to save for retirement early. Everyone is told to save consistently. You may wonder: just what kind of difference might an early start and ongoing account contributions make? I’ll share some eye-opening numbers to show you (and you can verify them simply by using the compound interest calculator at investor.gov, the Securities and Exchange Commission’s website). If you are 30 years old and contribute $200 a month to a tax-deferred retirement account (initial investment of $200, then $200 per month thereafter), you will have $333,903.82 by age 65, if that

Today’s impulsive moves could breed tomorrow’s regrets. When emotions and money intersect, the effects can be financially injurious. Emotions can cause us to overreact – or not act at all when we should.     Think of the investors who always respond to sudden Wall Street volatility. That emotional response may not be warranted, and they may come to regret it. In a typical market year, Wall Street can see big waves of volatility. This year, it has been easy to forget that truth. During the first third of 2017, the S&P 500 saw only 3 trading days with a 1% or

Expect more volatility, but avoid letting the headlines alter your plans. Recent headlines have disturbed what was an unusually calm stock market. The political uproar in Washington may continue for weeks or months, and it could mean significant, ongoing turbulence for Wall Street. As an investor, a retirement saver, how much will this turmoil matter to you in the long run? Perhaps, very little. There are many good reasons to remain in the market.       The earnings recession has ended, and the economy has strengthened. This past earnings season was a superb one. The first quarter of 2017 saw the biggest

attitude

We may need to change them to better our financial prospects. Our relationship with money is complex & emotional. When we pay a bill, go to the mall, trade in a car for a new one, hunt for a home or apartment, or pass someone seemingly poor or rich on the street, we feel things and harbor certain perceptions.  Are our attitudes about money inherited? They may have been formed when we were kids. We watched what our parents did with their money, and how they managed it. We were told how important it was – or, perhaps, how little