Why You Should Start Retirement Planning by Age 25

The last few years have been financially challenging for many Americans, the pandemic took an economic toll on many, and inflation as well as rising rates are continuing to hurt wallets. All of this has made retirement planning difficult for many as savings have been dwindling. See: What Is the Average Social Security Benefit at Every Age?Learn: 3 Ways To Recession-Proof Your Retirement Despite these challenges, the motto of saving early to plan better still seems to ring true to the public. Indeed, a new GOBankingRates survey found that more than 37% of Americans start saving for retirement by age…

Which Generation Is the Most (and Least) Financially Literate?

Financial literacy is an important life skill that too few Americans have mastered. Studies have shown that those with higher financial literacy are more likely to plan and save for retirement while working, meaning they were also more likely to have long-term financial success. Discover: 8 Best New Grocery Items at Dollar Tree To Help Combat InflationRead: How To Guard Your Wealth From a Potential Banking Crisis With Gold With the future of Social Security in question, the vanishing of American pensions and many Americans coming up short in their retirement savings — financial literacy is more important than ever. Studies by…

How To Build Your Savings From Scratch

6 Things You Must Do Before You Start Looking For a New Home

You’ve decided that you want to buy a house, but you’re not sure where to start. Be Aware: 7 Worst States To Buy Property in the Next 5 Years, According to Real Estate Agents Read Next: Become a Real Estate Investor for Just $1K Using This Bezos-Backed Startup Buying a home can be a really daunting and competitive process. It’s important to know what you need — and want — before you start submitting offers where you’re on the hook for hundreds of thousands of dollars. There are some key steps to take before you purchase a home that will…

Experts: 5 Things Millennials Should Know About Social Security

Many millennials, born between 1981 to 1996, are approaching or are already in their 40s. This means millennials are old enough to start thinking about Social Security and the key role it plays in retirement. Here’s what millennials need to know about Social Security as a retirement benefit right now, plus GOBankingRates takes a deep dive into the biggest myth surrounding the future of Social Security.  The Future of Finances: Gen Z & How They Relate to MoneyMore: 7 Surprisingly Easy Ways To Reach Your Retirement Goals Social Security Includes Disability Benefits Most people commonly associate Social Security with retirement…

10 Ways Millennials Will Waste Money in Retirement

Whether millennials will have enough money to last them throughout their retirement remains to be seen. So far, things aren’t looking great for this generation. Learn: 10 Aldi Brand Products Worth BuyingDiscover: 3 Ways To Recession-Proof Your Retirement According to a 2022 survey by Goldman Sachs, 34% of millennials feel behind on saving for retirement. Factors making it difficult to build up a sufficient nest egg include towering student loan debt and the high costs of housing and child care. But it’s not just saving for retirement that millennials must do; saving during retirement will also be critical. As it…

15 Most Important Assets That Increase Your Net Worth

Your net worth is more than just the balance in your bank account. It’s a measure of your financial health. For You: 6 Valuable Everyday Items You Should Never Throw Away Try This: 5 Unusual Ways To Make Extra Money (That Actually Work) To get the answer to “What is my net worth?” you need to subtract your total liabilities from your total assets. If you’re trying to figure out which assets are the most valuable or will otherwise give your net worth a boost, here’s a rundown of 15 essential assets.

I’m a Financial Advisor: These Are 4 Money Mistakes People Make in Their 40s

The 40s are a time when you’re often having to juggle prioritizing financial security for yourself and your children. It’s a time when you’re established in your career, but retirement still feels a ways away. It’s also a time when you may have more disposable income than at other points in your life, but may not be sure of the best ways to use it. Because this decade can feel like a juggling act, it’s no wonder that many people in their 40s often make mistakes when it comes to their finances. GOBankingRates spoke with Kerry Keihn, partner and financial…

10 Basics You Need To Understand When Selling Your House

You’re preparing to sell your home, and you want to learn as much as possible about what’s in store. Whether you’re a first-time seller or just haven’t sold a property in a long time, you’re hoping to go into the process as informed as possible.  Be Aware: 7 Florida Cities That Could Be Headed For a Housing CrisisSee: 3 Things You Must Do When Your Savings Reach $50,000 To help you learn what to expect, GOBankingRates spoke with two real estate professionals to learn more about selling process. Keep reading to find out what they had to say. Fees To…

How Financial Literacy Changes Once You’re Retired

Financial literacy covers a wide range of topics, from budgeting and saving to investing and planning for retirement. Once you retire, however, financial literacy broadens to include scenarios that may not have been as relevant during your working life. For example, income typically drops in retirement, while expenses may remain the same or even rise, depending on the type of lifestyle you lead and the condition of your general health. Next: Retirees Confess What They Wish They’d Done With Their MoneyFind Out More: 3 Ways To Recession-Proof Your Retirement Financial Literacy Month is a great time for both seniors and…

Top 5 Financial Tools That Boomers Need To Know

Baby boomers are generally considered to have been born between 1946 and 1964. As such, they have a wealth of experience that they can tap into to help them with their investments. On the downside, however, it means that some of them might not be as up to date on financial technology as younger generations. While boomers shouldn’t abandon their hard-earned wisdom over the years, they should also be aware of more modern developments that can enhance their personal finances even more. Here are some of the top financial tools that boomers need to know. See: 7 Ways Baby Boomers…

Why Boomers Aren’t Done Learning About Money

You might be getting older, but you’re not done learning about money yet.  See: 6 Big Shakeups to Social Security in 2023Learn: How to Guard Your Wealth From A Potential Banking Crisis with Gold It might seem as though baby boomers can begin sunsetting their financial literacy journey as they look to retirement. Because the financial world is continually in flux, however, nationally certified financial instructor (NFEC) Chris Longworth of The Financial Education Group said financial literacy is a lifelong journey that should never end.  Ever-changing rules require boomers to remain educated in order to stay ahead of the curve….