Young Americans are having trouble becoming fully independent adults. Millennials, who were long ridiculed for being boomerang kids who scurried back to mom and dad’s basement after leaving the security blanket of college, know a thing or two about that.
The wealth management industry is prepared to court its newest potential clients: Gen Z. Instead of trotting out older professionals with decades of experience, companies are utilizing generative AI to develop digital assistants.
As we enter Valentine’s Day weekend, financial infidelity isn’t exactly a topic that exudes romance. But lovebirds who don’t make the discussion a foundational piece of their relationship risk adding avoidable strain on their union.
Everyone should have access to a quality retirement plan. That should not be a radical statement. People deserve to age with dignity and not worry about outliving their savings or paying for necessities like shelter and food.
Thanks to new legislation, Americans with retirement plans now have easier access to cash in the event of a financial emergency. A provision in the Secure Act 2.0 that took effect this year allows individuals with 401(k)s and other retirement plans to withdraw up to $1,000 without triggering a 10% early distribution penalty.
It’s been close to two years since the Consumer Financial Protection Bureau indicated it was looking to tighten regulations on popular “buy now, pay later” services. Since then, the sector has grown to $300 billion.
The often-cited goal of having a $1 million retirement nest egg needs to be retired itself. Adjusted for inflation , it would take nearly $1.9 million to have the same purchasing power today as in 1999, when the oldest of millennials were just turning 18.
Choosing a school that enables you to graduate with the least amount of debt, or, even better, with no debt at all, is a message more students need to hear.
Just know that involving money in the hunt for love limits your options and might eliminate potential partners who in many other ways could provide you with a meaningful and fulfilling relationship.
Never hesitant to rebrand an existing phenomenon, millennials and their Gen Z frenemies are admitting to having “money dysmorphia” — a feeling of insecurity around their financial situation even when the true picture reveals little cause for concern.
Less than a third of Gen Z feels financially secure while just more than half feels “very or extremely worried about not having enough money,” according to a recent study by consulting firm EY. “Welcome, the water’s warm!” says every American millennial.
Avocado toast, hard seltzers, and Instagrammable vacations are not the reasons millennials and our Gen Z compatriots have failed to scrimp, save and budget our way into home ownership.
A lot of the conversation around the rise of artificial intelligence has focused on its threat to white-collar jobs and knowledge workers.
As high mortgage rates make potential sellers wary of listing a home and buyers feverishly compete for disappearing inventory, some employers are stepping in to offer employees affordable housing solutions. An offer too good to refuse? It may not be as simple as that.
It took 16 months to pay off my husband’s student loans after we got married.
Kids are expensive. Full stop. No matter your level of frugality, it's certainly costlier to have kids than to opt to be child-free.
If there’s one thing the impending back-to-school season makes clear, it’s that the cost of higher education in the US is nerve-racking.
Marriage in the US also unlocks an under-discussed retirement option: the spousal IRA.
As mass layoffs start to make headlines and recession chatter gets louder, there is a lot that traditionally employed folks can learn from freelancers to defend their finances amid anxiety about a downturn.
Our economy is in a will-they-won’t-they relationship with the next big recession.
Even in 2022, pensions still command an aura of reverence. A benefit where you work for one company for 30 years and then retire with a livable wage? And you don’t have to fret about picking investments? What’s not to like?
There is a real fear about the cost of seeing a doctor and how it can impact your finances. Millions of Americans receive surprise medical bills each year. That includes insured individuals, according to research by the Peterson-KFF Health System Tracker. A new federal law, The No Surprises Act, went into effect Jan. 1, 2022, banning most unexpected medical charges.
Supply-chain problems became the almighty boogeyman in 2021 alongside Covid, and now its partner in crime, inflation, is the thing causing anxiety. The Consumer Price Index rose to 7% in December 2021, which is the highest it’s been since the early ’80s. But should the typical consumer be worried about inflation?
First comes love and then comes ... a frank discussion about the realities of moving in together.
The job market has changed quite a bit since I graduated in 2011. Even before the pandemic, the business world was aflutter about the rise of the gig economy. Now side hustles and working remotely have become the norm. But what hasn’t changed is the stress and anxiety that comes with entering the workforce.
Lay away. Credit cards. Installment loans. We’ve been engaging in “buy now, pay later” practices for decades. The latest model actually bears the title.
Revenge spending (verb): to overindulge after a period of restriction. Sound familiar?
For many, paying off debt and putting money away for retirement are the first financial goals to work toward.
A common reaction to hearing about a pregnancy is to say congrats and perhaps send a onesie. But there are other ways to celebrate and support newly expecting parents.
In the coming decades, a Great Wealth Transfer will be upon us. Gen Xers and Millennials are expected to inherit trillions of dollars. Some estimates say as much as $68 trillion will be passed down from Baby Boomers.
Eight advisors describe the worst money moves they’ve witnessed clients make in a recession.
