Almost 100 million Americans, representing about 44% of U.S. households, owned mutual funds in 2018. Saving for retirement was the primary goal for 73% of investors; other goals included saving for college or a house, building an emergency fund, or providing current income.
No matter how much money you have or which life stage you’re in, becoming financially independent starts with a dream.
Retirement Confidence Increases for Workers and Retirees
On May 13, 2019, escalating trade tensions between the United States and China sparked a worldwide stock sell-off that wiped out more than $1 trillion in global equity values.1 The markets recovered over the next three days, but tensions between the economic giants continued to drive volatility with no resolution in sight.2 Investors sometimes overreact to short-term events, but the conflict with China has been simmering for decades, and an extended trade war could have long-term economic consequences.
A financial crisis can be scary at any age, but this is especially true when you’re in your 40s or 50s. Perhaps you’re facing an unexpected challenge, such as a divorce, job loss, or break from the workforce for care-giving responsibilities. Or maybe you’re way behind on saving for retirement or have too much debt from unnecessary spending.
Tax reform changes to the standard deduction and itemized deductions may affect your ability to obtain an income tax benefit from charitable giving. Projecting how you’ll be affected by these changes while there’s still time to take action is important.
The Tax Cuts and Jobs Act (TCJA), which passed in December 2017, made fundamental changes to the U.S. tax code, and 2018 returns were the first time most taxpayers could see the practical impact of these changes.
Are you a single mom, looking to take steps to build your bright financial future?You’re in the right place. In this article, we’re taking a look at some real ways you can lay the foundation for your personal financial success.
Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these important programs. The newest reports, released on April 22, 2019, discuss the current financial condition and ongoing financial challenges that both programs face, and project a Social Security cost-of-living adjustment (COLA) for 2020.
We all have values. And yet, do you ever feel like – after collecting alimony, receiving child support, and working hard – you really haven’t put any of your money towards your personal values? If that sounds familiar, you’re not alone.