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A young grad struggling to pay off student loans recently asked me about payment relief, repayment options, and a plan to start paying down these loans. Here's what she needs to know about deferment, forbearance, and a repayment plan that works.
The less money you owe, the more you can look forward to an easy retirement. That means you need to think about paying off your debts (including your mortgage) before you give up the rat race.
With Washington bogged down in debates about how best to protect consumers from the dangers of the financial markets, here's an idea: be your own financial regulator. You know enough to do this.
Banks are supposed to be making mortgage loans again, but from what I'm seeing, some are making unreasonable requests. Here's where to go for the best chance on getting your loan through the approvals process.
Starbucks customers in New York City have reduced the calorie-count of their food purchases by an average of 6 percent since the city started requiring restaurants to post calorie information next to its products. Customers with a history of ordering high-calorie food reduced their calorie count more than 20 percent. Now if only Mayor Bloomberg's calorie disclosure initiative could be applied to 401(k) fee disclosure, we would all be in better retirement shape.
Fortune Magazine consulted four great market seers to forecast the markets for the next 10 years. Here's why all such exercises are a waste of time.
From better retirement prospects to a more 21st Century approach to careers, Gen Y looks to be in a lot better shape than Boomers to make their way in the new world order.
Odds are, you'll work in retirement -- at least part-time. To make your next job both more enjoyable and more lucrative, follow MoneyWatch's six-step plan.
New research from the Employee Benefit Research Institute contradicts an earlier report (from the Urban Institute) that suggested the rising popularity of auto enrollment was causing firms to reduce their matching contribution rate. In fact, EBRI says on average, the large firms it surveyed have slightly increased their match rates since introducing auto enrollment.
If your between ages 45 and 50, it's time to figure out where you stand for retirement, and start making changes if necessary.
If you want to make forward financial progress, you need to have the mindset of an accumulator of money and a disposer of debt, not the other way around. Here are six things you can do right now to change your money mindset.
While Congress and Corporate America dither over how (or whether) to give 401(k) plan participants clear fee information, a new firm, BrightScope, has beaten them to the punch with a free online tool that not only shows the fees charged, but also translates that into real dollar terms for investors. The killer app: showing participants in fee-sucking plans how much they can save between now and retirement by doing an IRA rollover.
While being auto enrolled in a 401(k) plan is better than doing nothing, it's not the best strategy for most folks. People who are automatically enrolled into their employers 401(k) plans should consider making these changes.
The income limits preventing higher income taxpayers from contributing directly to a Roth IRA still apply in 2010. But these individuals can still contribute to a traditional IRA and convert it to a Roth tax free. Watch my video tip to learn how it works.
The 401(k) may be an imperfect plan, but it's the best you've got. Until something better comes along, if ever, these three principles will help you make the most of it.
