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A sign of our hard economic times: Half of boomer parents say they don't expect their adult kids to be more financially successful than they are. It's no secret Gen Y has been dealt a lousy hand, but I still think they could end up doing just fine. Perhaps wit a little help from their parents.
Anyone about to borrow a serious amount of money for an important purchase should review their credit report and find out their credit score. Read here for what you need to know on how to do it.
Age 30 is the New 22 when it comes to your grown kids becoming financially independent, according to a new Schwab survey of intergenerational family finances. But many parents are also stressing about whether they will be able to retire comfortably, even though they believe their kids have no problem leaning on them for money-help. Might it be time for parents to come clean with their kids?
It's hard for most of us to accurately predict when high inflation or a recession will occur. Also, given how long you'll be retired, there's a good chance you'll experience one or more of these events during your lifetime. That's why it's a good idea to diversify your sources of retirement income.
When markets decline hard, try to remember that sinking feeling. It'll help protect your retirement savings in the long run.
What should you do if you think that high inflation is in our future? Some answers may surprise you.
If you're of the right age, short on cash, and sitting on hundreds of thousands of dollars in home equity, reverse mortgages can be a sweet deal. But these loans aren't sure things. Here's how to know if a reverse mortgage is right for you.
Everyone parks the money they must keep safe in a money market fund. But these days, that makes no sense: the funds aren't as safe as some investments that pay more.
Women are proving to be an especially eager audience for insurers selling immediate annuities these days. The good news: immediate annuities can be a smart way to generate steady retirement income. The bad news: Now is so not the right time to be buying. You want to wait for rates to rise. Immediate annuities are an easy sale for insurance agents these days, but that doesn't make today an ideal time to make
The average total cost of a severe heart attack -- including direct and indirect costs -- is about $1 million. The average cost of a less severe heart attack is about $760,000. Amortized over 20 years, that's $50,000 per year for a severe heart attack and $38,000 per year for a less severe heart attack.
Slow down if you're driving through a city or county that has a budget shortfall. Two studies put some hard data behind what you probably always thought was at play: Cops give out more tickets in cash-strapped areas. Especially to out-of-towners. Given the fiscal straits across the country, that's just another reason to slow down.
Is the economy getting better or not? If you look at the technical numbers (such as leading economic indicators), it is. If you look at what's driving those numbers, maybe not.
Travel insurance typically combines three forms of coverage. Is this insurance a good idea? Are you already covered by your existing insurance? Read on to get the answers.
Goldman Sachs doesn't sell stuff to ordinary folks. But its SEC troubles are a reminder of what you need to remember dealing with any financial salespeople.
If you rely only on conventional wisdom to decide how much income you need in retirement, the consequences can be unpleasant. If your goal is too low, you might run out of money before you die. If your goal is too high, you might postpone your retirement. Do the math to estimate how much money you need to meet your needs and be happy for your retirement years, and not rely on generalized goals that may not fit you best.
