3 Ways to Spring Clean Your Portfolio
Spring cleaning isn't just for your house: It's also for your portfolio. Luckily, the market's recent rise will make it even easier to tackle these three financial tasks.
retirement planning
Washington Lawmakers' Pensions: The Envy of a Nation
For all the talk you hear from Capitol Hill about running government more like a business, Congress has a retirement plan that would make any Fortune 500 executive blush.
Long-Term Care Insurance Should Be Part of Your Financial Plan
Long-term care insurance first was introduced in the late 1970s, but in recent years, it has become a much more important element of retirement planning thanks to twin rises in health care costs and longevity.
3 Simple Ways to Increase Your Retirement Income
A new report reveals the nation's dire state of retirement readiness -- and also how deflated so many people feel about their prospects. But don't just give up: Here are the three key areas where you can squeeze out more money to cover your retirement living expenses.
One Third of Parents Are Raiding Their Retirement to Pay for College
A new study shows that one third of parents plan to raid their retirement accounts in order to help pay for their children's educations.
Watch: A Publisher's Clearing House Winner Thinks About the Future
For a Louisiana couple, a Feb. 28 visit from the Publishers Clearing House van carried with it an instant transformation from penny pinchers to millionaires. In an exclusive interview with DailyFinance, Elise Gutierrez laid out some of her savings plans for the future.
Americans Still Aren't Saving Enough
Many Americans are still failing to sock away enough money to pay for retirement -- or emergencies for that matter, according to a survey. Only half of respondents reported good savings habits, including having a spending and/or saving plan in place.
Roth 401(k)s: If Your Employer Offers One, Should You Switch?
With more employers than ever adding a new Roth 401(k) option to their retirement plan offerings, should you make the switch or stick with your existing retirement strategy?
Target-Date Funds: Same Dates Can Earn Wildly Different Returns
The appeal of target-date funds is obvious. Decide when you'll need your money back, and the fund invests accordingly: aggressively at first, more conservatively as the "target" approaches. But it's not so simple: Different funds can give you dramatically different performance.
3 Social Security Shockers From the CBO's Latest Report
The Congressional Budget Office has updated its projections for the Social Security Trust Fund, and the news isn't good. If you're still working, and expect Social Security to cover a major portion of your retirement needs, you'll want to see these numbers.
Your Parents Think You Stink at Managing Your Money
Fidelity recently conducted a survey asking parents how they think their adult children are doing at handling their finances. As you might expect, those parents didn't hold back with their criticism.
Retirement Planning: The 'Magic Numbers' Are Different for Everyone
The experts have a host of different opinions about how much you should save for retirement, and all of that conflicting advice is part of the reason why only 58 percent of us are saving for retirement at all. But let us let you in on a little secret ...
The Dangers of 401(k) Loans
Dipping into your 401(k) plan is tantamount to journeying into the future, mugging your 65-year-old self, and then booking it back to present day life. And yet, a new study finds that one in four workers resorts to taking 401(k) loans each year.
The First $1 Million's the Hardest ... But Not as Hard as You Think
There's an old saying about making money that "the first million is the hardest." And while you may laugh at that, it's actually instructive to examine what it takes to reach that milestone, and even more interesting to see how quickly you can get to $2 million mark.
Why Aren't You Raising Your Financial IQ?
In the game of life, education is by far the most important variable dividing those who play well from those who don't. And that applies to financial literacy too: The more you know, the better your money and investing decisions, and the more wealth you'll accumulate.
Fiscal Cliff Deal Hides a 401(k) Bonus
Buried deep in the American Taxpayer Relief act is a provision that will let a lot more workers convert their traditional 401(k) savings account into a Roth 401(k). Here's why doing that might be a good deal for you in the long term -- and why it might not.
The Dangerous Problem Behind ETFs' Big Asset Surge
Thanks to their lower fees, most ETFs do better for investors than similar mutual funds, and investors have noticed: They poured $154 billion into ETFs in 2012, while yanking more than $119 billion out of stock mutual funds. Just one problem: Most of that money went into the wrong kind of ETFs.
Year-End Review: Five 401(k) Must-Dos Before 2013
The end of the year is fast approaching, so you've only got a few days left to make changes to your 401(k) for 2012. These five tips will help you make the most of that limited time, and put you on track in your efforts to make your golden years as comfortable as possible.
5 Sensible Ways to Combat Inflation in Retirement
Inflation may not feel like much when you are working, but it can have a significant impact on the buying power of your retirement savings. These adjustments can help you to minimize inflation's bite.
The Surprising Generation that Has a Handle On Its Finances
We all know that we should save more and spend less, but we don't always follow that advice. When you break down our responses to the financial crisis by generation, however, some interesting patterns emerge -- and you probably wouldn't guess which generation is doing the worst at financial wellness.
Why Retirement Is Like Winning the Lottery
The new retiree has a lot in common with a lottery winner. But there is at least one major difference. If you buy a lottery ticket, you have a miniscule chance of winning. If you contribute to your retirement account, you're bound to win.
Retirees: Don't Miss Deadline for Required IRA, 401(k) Distributions
Smart retirees have done everything they could lately to stretch their retirement accounts, but taking too little out of them will get you into big trouble with the IRS. Fail to withdraw your full required minimum distribution, and the penalty you pay to the tax man will be severe.
Younger Workers' Biggest Worry for Retirement: All of the Above
What has young and middle-aged workers most worried about their retirement prospects? Essentially, everything -- from health care costs to tax rates to being able to afford to pay for a roof overhead -- according to a recent survey from T. Rowe Price and Harris Interactive.
401(k) Fees: You'll Pay Now or Pay Later, But You Will Pay
In some ways, a 401(k) is almost an ideal investment. The only problem is the costs. 401(k) plans are not cheap to manage, and that means fees your employer will probably pass on to you, cutting into your investment returns. But how your company passes those fees on can make a big difference.
In Retirement Planning, Don't Forget to Do the Emotional Math, Too
Many financial advisors might make retirement planning out to be an exact science. Their financial calculators will spit out hard numbers, detailing almost to the day when you can quit working. Reality, however, isn't So exact, and those calculators miss a host of subjective emotional factors that you shouldn't ignore.
10 Things You Must Know About Social Security
Many Americans will make Social Security the bedrock of their retirement plan, but there's more to the benefit than having a birthday and signing up to get your checks. Here are 10 essentials you need to know to get all the money you're entitled to out of the Social Security system.
Another Pension Bites the Dust: A Lesson from Hostess' Bankruptcy
When Hostess Brands entered bankruptcy liquidation, it became the latest in a long list of companies to kill its pension plan. And while the existing retirees may still be protected by the government's Pension Benefit Guaranty Corporation, younger Hostess employees won't be so lucky.
The Best U.S. Cities for Retirees
When choosing where to retire, there are lots of factors to consider beyond fun in the sun. Good health care, cost of living, low crime rates, and a host of cultural aspects come into play. So where should you set your sights? Kiplinger and the Martin Prosperity Institute pick out some winners.
How to Ruin Your Retirement in 3 Steps
A successful, prosperous retirement is a common goal for most of us, but it's remarkably easy to wreck your golden years if you're not being careful. Here are three steps you could be taking right now to ruin your retirement.
One Year From Retirement? Prepare to Make the Break
With one year left until retirement, you're in the final stretch. It's time to prepare for the transition, so give your budget a stress test, reallocate your assets and income sources, and take action on health insurance. Here are six helpful guidelines: