Advisor News

More older employees choose to reduce theirwork hours and phase into retirement. In 2024, people 50 and older can contribute up to $8,000. Increaseslifetimeincomebydelaying Social Security: The extra income you earn fromworking part time can help you afford to postpone claiming Social Security benefits and could boost your monthly payout when you…

Your credit score remains an important financial indicator throughout retirement, influencing various aspects of your financial life and overall well-being. While retirement often involves a shift in financial priorities, maintaining a healthy credit score can provide essential benefits and opportunities during this life stage.

The approaching summer has me daydreaming. If your dreams are focused on making the big leap into retirement sooner than later, here are three tips to consider as you prepare for the next act in your life. No. 1: Numbers matter but so does how you plan to live your life.

Suze Orman, a well-known financial advisor and author, is a strong advocate for Roth retirement accounts, including Roth 401 s and Roth IRAs. According to Orman, these accounts provide substantial benefits over traditional retirement savings options due to their unique tax advantages and flexibility. Suze Orman advocates for Roth retirement accounts, as…

—Recent years have seen spiking inflation as a result of a number of shocks, including supply bottlenecks caused by the coronavirus pandemic and Vladimir Putin's invasion of Ukraine. The Federal Reserve Board's Open Market Committee in 2012 set a target of reducing inflation to 2%. However, according to a report released Thursday by the Federal Reserve Bank of…

As artificial intelligence continues to evolve and fuel debate about its transformative power on business and society, younger Americans are far more optimistic about the technology’s potential to help them reach their financial goals.

It has a long history of successes and at times, failures in steering the U.S. economy through ups and downs. After the stock market crash on Oct. 19, 1987, just two months after Alan Greenspan assumed the chairmanship of the Federal Reserve bank, he fired off a one-sentence statement before the start of trading on Oct. 20: "The Federal Reserve, consistent with its…

Credit card debt is clearly causing restless nights after many consumers simply attacked higher prices for gas, groceries, and other goods by pulling out the plastic. A record $1.13 trillion in debt ended up on credit card balances during the fourth quarter of 2023, according to the latest report on household debt from the Federal Reserve Bank of New York.

One of your important sources of retirement income will likely be Social Security— but when should you start taking it? You can start collecting Social Security benefits at 62, but your checks will be considerably bigger if you wait until your full retirement age, which is likely between 66 and 67. However, if you have adequate financial resources to meet your…

Exchange-traded funds are financial planners’ top choice for the investment vehicle they most often use/recommend with clients, and their popularity does not appear to be weakening, according to the 2024 Trends in Investing survey, conducted by the Journal of Financial Planning and the Financial Planning Association.

More than a third of working-age Americans have money in a 401 account, and another 18% have individual retirement accounts. The median balance in those accounts is $30,000, according to the census. "Over four of the previous five years, technology stocks have outpaced the broader stock market," according to a recent U.S. Bank report.

Congress still has time to make fixes to shore up the retirement system but hasn’ t shown any such resolve. The Social Security system has two trust funds that hold surplus money accumulated in prior years— one for Old Age and Survivors Insurance and one for Disability Insurance. The much smaller DI program isn’ t expected to run out and combining the two funds would…

A new NerdWallet survey found 37% of Americans have been charged a late fee on their bills over the past 12 months. During the first quarter, the share of credit card debt that was more than 90 days overdue rose to 10.7%, a 14- year high, according to the Federal Reserve Bank of New York. Of those surveyed by NerdWallet, 16% said they've used a credit card to pay for…

By Paul Krugman/ The New York Times. And I worry that this condition may even be affecting the Federal Reserve, leading it to keep interest rates too high for too long. This month, a preliminary release by the widely followed University of Michigan survey of consumers reported a significant fall in consumer sentiment.

A new research report, published today by the Employee Benefit Research Institute, finds that among working Americans ages 55 or older, the labor force is aging.

63% of Americans are more worried about going broke before dying than they are about death, according to a study by Allianz Life Insurance Company of North America. That's a 6% increase since 2022. High inflation contributes to these concerns, as do worries about the future of Social Security.

For millions of Americans, the definition of retirement has changed. A new report from Fidelity shows that most Americans are thinking more about the active lifestyle they want during their retirement. "As more people rethink retirement, with new goals such as living abroad or starting a business, we're encouraged to see a growing understanding of the value in…

MEMPHIS, Tenn.- The catalyst behind the failed gambit to sell off the iconic Graceland property in Memphis is a mystery. So it's a bit surprising on that end, "said Nicole Forbes Stowell, a business law professor at the University of South Florida's St. Petersburg campus. Naussany Investments and Private Lending said Elvis Presley's daughter, Lisa Marie Presley,…