According to Employee Benefit Advisor, Generation X is currently most at risk for financial hardship in retirement. PricewaterhouseCoopers released results of an employee financial wellness study this week and found of employees in the generation born in the early ’60s through early ’80s say they’re likely to tap into their retirement savings. In fact, 30% of them admit to already having withdrawn from a retirement … Continue reading How You Can Avoid Burning Through Retirement Savings Early
In today’s economy, it is not uncommon for young people to live paycheck-to-paycheck.Scrambling every month to make rent and car payments, many find it hard to think forward 40 years about retiring, much less saving for retirement. There is never an “easy” time to start saving, but it gets easier on you if you start early. Although understandable, putting off saving for retirement is one … Continue reading Saving for retirement when you are young
Planning and saving for retirement are among the most important aspects of personal finance. After working hard for the majority of adult life, most look forward to winding down and enjoying a comfortable lifestyle during retirement. While more people are aware of the importance of saving ahead for your retirement, there are still two general mistakes that can be costly down the road: 1. Not … Continue reading Two costly misconceptions in retirement planning
With many financial obligations binding you and your family, it’s understandable that some plans and goals will need to be pushed back for others. Sometimes, it might seem intuitive to start with meeting the most urgent or frequent financial needs – like paying the bills and expenses that recently come up. After that, short-term saving goals like future big purchases may seem more obtainable and … Continue reading How to balance the everyday, short-term and long-term financial needs
Over the past 3 weeks, we have discussed the importance of several key employee benefits – health insurance, the retirement plan, and disability insurance. There are MANY more possible benefits to consider, and every employer will offer a different combination. The best advice? Take your time, ask questions, and enroll in all of the benefits that help you earn and protect your income– and help … Continue reading The bottom-line on benefits and your bottom-line
To continue with our series, there are more benefits to look into at your first job, other than your health insurance policy (which we discussed last week). Although your working days are just beginning, it is never too early to think about your retirement. Ask about your company’s retirement plan immediately. The most common account is called a 401(k) plan. The majority of working Americans … Continue reading Advice for College Graduates – Part Two
The class of 2012 will graduate with more than two-thirds of students in debt of an average of $25,000 in student loans! According to a recent article by the Wall Street Journal, this student loan debt is in addition to the average of $4,000 in credit card debt. Whether you have a job lined up or not, it is your job to: Establish a plan … Continue reading College Graduates – Pay Attention!