Personal Finance – Weblogspot

Why putting more into a 401(k) can now increase your college financial aid

October 31, 2023 by Jamie

Photo: mangpor2004 (Shutterstock) The Free Application for Federal Student Aid (FAFSA) determines your eligibility for need-based financial aid for college. In previous years, the FAFSA asked families about the amount they contributed each year to employer-sponsored retirement accounts, like 401(k)s, and factored it into overall annual income households, thereby reducing their eligibility for assistance based …

4 Essential Retirement Assets | FedSmith.com

October 31, 2023 by Jamie

We all know that the Thrift Savings Plan (TSP) is important in retirement, but there are 4 other assets that are often overlooked but are key factors in having a great retirement. After all, I don’t know anyone who just wants a decent or average retirement. I definitely want an amazing retirement and I hope …

Work while benefiting from social security? There is good news for 2024. | The motley fool

October 31, 2023 by Jamie

Social Security is a critical source of income for many retirees, with four in 10 baby boomers saying their benefits will be their primary source of income, according to a 2023 report from the Transamerica Center for Retirement Studies. But older people are also working longer than ever. The report also found that about half …

Who is the happiest? Spenders or savers? A study gives surprising results

October 31, 2023 by Jamie

The study is based on a survey of 2,000 American shoppers. The age-old debate around living lavishly, being frugal, making prudent financial choices, and sticking to essential spending will persist in the world of personal finance. Amid this ongoing conflict of ideas, a recent study of American shoppers offers an intriguing perspective: It suggests that …

Proposition 9 gives retired teachers $3.3 billion to boost their pensions

October 30, 2023 by Jamie

Proposition 9 would amend the Texas Constitution to provide a cost-of-living adjustment to retirees who rely on the Texas Teachers' Retirement System, pictured above.

When Joe Ramirez retired from the Austin school district in 2012, his rent was about $1,000 a month. Today, as housing prices have soared in the city, her rent has doubled to $2,000, but her monthly pension remains the same as 11 years ago. For many people, it’s difficult to just cover the basics, he …

How yours and mine become ours: managing the finances of blended families

October 30, 2023 by Jamie

Published: October 30, 2023 at 7:20 a.m. ET Managing family finances is one of the leading causes of divorce. If nuclear families can’t agree on money matters, is it really surprising that a blended family often faces even more challenges? Additional outside forces, such as ex-spouses, as well as prejudice and heightened emotions brought into …

The One-Hour Savings Rule: David Bach Says It’s the Only ‘Simple, Proven Way to Get Rich’

October 29, 2023 by Jamie

Ready to not only get rich, but build financial security for life? David Bach, self-made author and automatic millionaire, wrote on his blog that you can become rich if you pay yourself first and save an hour of your earned salary every day. Discover: 5 ways to improve your daily financesLearn: How to Get Cash …

1 Simple Retirement Savings Tip You Wish You Knew Earlier | The motley fool

October 29, 2023 by Jamie

You don’t have to be an avid investor to have retirement planning on your radar. It’s part of “adulting,” getting your finances in order before you launch into your golden years. Most people are familiar with employer-sponsored plans like the 401(k), but fewer than one in five American workers use this highly effective and supplemental …

3 Social Security Surprises That Could Cost You in Retirement | The motley fool

October 29, 2023 by Jamie

For millions of seniors, Social Security is a retirement lifeline. But sometimes even small misunderstandings can be costly. While you don’t need to know every detail of how the program works, knowing at least the basics of how your benefits are calculated can help you avoid any surprises in retirement. These three factors are among …

Defined contribution pensions: the lifestyle you ordered is currently out of stock

October 29, 2023 by Jamie

Unlock Editors Digest for free Roula Khalaf, editor-in-chief of the FT, selects her favorite stories in this weekly newsletter. Hindsight is always in high definition for investors. This sense of clarity will be uncomfortable for anyone who has unwittingly invested in the bond market in recent years. Yields soared to a 15-year high on government …

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