Today’s panel looks at ways to reduce debt and plan for a lengthy retirement. What’s the best way to lower student loan payments? How do you handle a large debt to the IRS? What should you do if you are upside down on your mortgage? For answers to these questions and more watch the video clip below.
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This morning, Today’s experts answered your tough financial questions. How do you keep a business bankruptcy from going personal? No employer 401K, what’s the best way to save? Should you refinance your home loan? For answers to these questions and more watch the video below.
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Today’s expert panel touches on what to keep in mind when co-signing for a student loan. Should you rent or buy a home after retirement? What is the best way to handle payments due for medical expenses? Plus, get some tips on green investing. To learn more, check out the video clip below.
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This morning, the Money 911 experts panel tackled some of your tough money questions. After a job loss, what can you do with your fully-vested pension? How can you begin to build credit? What can you do when you’re struggling to make your mortgage payments? For the answer to these questions — and a few more — check out the clip below!
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This morning on the Today Show, the Money 911 panel talked about credit card debt, savings bonds, 401(k)s, and more. How can you get out of high levels of debt? What’s the best thing to do with your childrens’ savings bonds? After a job loss, what’s the best thing to do with your 401(k)? If you’re experiencing one of these money problems, or have another of your own, check out the clip below for answers.
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I have money to invest for my retirement but I have no clue where to place it to have it work for me. I recently learned that $3,000 can turn into $375,000 over 30 years, and I have exactly that amount to invest rather than having it sit in a savings account. What should I do with this money? – Mikio
Mikio,
These days, I think you’ll have trouble earning that much on an investment. You’d need to earn between 17% and 18% annually on your money, which is a little unrealistic. Investing is something done over time – you don’t want to just put $3,000 into an account and never look at it again. Instead, you should open More…
Do you have enough money saved for your retirement? New research from the Employee Benefits Research Institute says that many Americans, including Baby Boomers and Generation X-ers, will run out of money for their basic needs like rent and putting food on the table within 10-20 years of going into retirement. Regardless of your income, you could be at risk if you haven’t saved enough. Watch the clip below to see where you stand – and for some tips for saving to ensure a long and happy retirement.
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My father in law gave us 10,000 dollars as a gift. What should we put it in? Maybe a CD? I also want to start a college fund, but I don’t want to pay a penalty if my daughter doesn’t go to college, or wants to go to a trade school. – Mary, New Jersey
Mary,
That all depends what the money is for. Usually, when you have a large sum of money, you’ll want to choose to either save it or invest it – unless you have a large amount of debt to pay off at high interest rates – then, you might want to put it towards paying down some More…
WHO: Cynthia Hayes
WHAT: Oculus Partners
WHERE: Atlanta, GA
WHEN: 2008
HOW: Some people, when they think of retirement, think of golfing, beach houses, and sleeping in – a far cry from Cynthia Hayes’ retirement dreams. They included launching a business that, not so coincidentally, would help others save for and achieve their own retirement goals. “I was feeling a bit uninspired and unfulfilled,” says Hayes, formerly a Managing Director at Merrill Lynch, “plus, I had always targeted age 55 as the time to do something on my own.” So when Merrill offered her a voluntary early retirement in April of 2008 – months before she had planned to make the jump – she leapt and started work on her new project. One full day (literally), some phone calls, and a Linked In account later, Hayes was in business. More…
Last week, when I wrote about crunching the numbers to see if you could afford to be a stay-at-home parent, I mentioned that income isn’t the only consideration. Benefits weigh heavily on this decision too. Not just health and other insurance benefits (many employers provide life and even a basic disability policy, both of which are important, particularly for parents), but saving for your retirement.
Unfortunately, when you give up a job, you may be giving up matching dollars, if your company contributes to your 401(k). That can mean big money, but it doesn’t mean you have to stop saving for retirement. Banking your own cash is so important, even if your spouse is socking away a lot of money, because we just never know what’s going to happen. No one wants to hear it, but I’ve spoken to too many people who were left struggling to fulfill their retirement needs because a divorce came out of leftfield. Plus, even if things go exactly as planned, it’s nice to have a stake in the game.
So how, exactly, do you save for retirement without the help of an employer? More…
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