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
In times of crisis, you don’t want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you’re protected when a financial emergency arises. One way to accomplish this is by
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.
Although most people who marry hope their unions will last forever, about 50% of first marriages in the United States end in divorce.1 Individuals age 50 and older are still less likely to get divorced than those who are younger. Even so, the divorce rate for Americans under age 40 has declined since 1990, while it has roughly doubled for those age 50 and older.
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.