The Latest Breaking News on Personal Finance

If Social Security Disappeared Tomorrow, How Much Would Your Retirement Plan Change?

If Social Security disappeared tomorrow, many Americans would need to rethink retirement spending, savings withdrawals, and even the age they stop working. The size of the disruption would depend on one number that deserves more attention than most retirement calculators give it: how much of the household budget depends on…

The Free Financial Advisor · Oct 13

You’re 60 and Get Laid Off — Should You Retire or Try to Get Hired Again?

Getting laid off at 60 can turn a carefully planned career into an unexpected retirement decision. Before cashing out your work life for good, compare what another paycheck could buy with what leaving the workforce might cost.

The Free Financial Advisor · Oct 13

The Government Will Match Up to $1,000 of Some Workers’ Retirement Savings in 2027 — Here’s Who Qualifies

Saving for retirement can feel impossible when groceries, housing, and everyday expenses consume most of your paycheck. Starting in 2027, however, some Americans will qualify for a federal program that could add up to $1,000 annually to their retirement savings.

Everybody Loves Your Money · Oct 13

5-year FD vs NSC calculator: Check maturity senior citizens can get on Rs 2.5 lakh investment in NSC and FDs from SBI, HDFC Bank, PNB, ICICI Bank and others

For senior citizens eyeing steady income, evaluating National Savings Certificates against bank fixed deposits is crucial. Investing Rs 2.5 lakh in NSC yields a more favorable maturity amount than many bank FDs.

The Economic Times · Oct 13

How to invest my Rs 2.5 crore retirement fund for a steady monthly income?

ET Wealth Reader's Query: I am 60 with a retirement corpus of Rs 2.5 crore. How should I invest it to generate a steady monthly income and ensure it lasts through retirement? I plan to work part-time for five years, earning about Rs 1 lakh a month, and have no…

The Economic Times · Oct 13

VRS offer in hand? Check these tax rules before you accept the package

Contemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implications, including taxation aspects and the treatment of different package components. Be clear on the eligibility for tax breaks and ensure that your financial security after retirement is adequately planned.

The Economic Times · Oct 13

Americans Were Asked What They'd Do With An Extra Month's Income. Nearly Half Would Spend None Of It.

The highest-earning 1% would save 78% of a hypothetical windfall, while lower-income households devote a larger share of spending to essentials.

International Business Times · Oct 12

Sarah Kim on Why Financial Freedom Starts With Choice

Retirement can look very different depending on who is imagining it. For one woman, it means finally leaving a demanding career. For another, it means traveling, helping her children buy their first homes, or knowing she could rebuild her life after losing a spouse.

International Business Times · Oct 12

The American Dream Now Costs $5.3 Million. Even College Graduates May Not Earn Enough To Cover It.

Raising children and owning a home account for some of the largest expenses, while private-sector wage growth has lagged the increase in estimated costs.

International Business Times · Oct 12

Would You Rather Know the Exact Date You’ll Die or Exactly How Much Money You’ll Need?

Knowing the exact date of death would change almost every decision, from booking a vacation to deciding whether to retire early. Knowing exactly how much money life will require sounds less dramatic, but it could transform financial planning just as dramatically. One answer would put a countdown on life. The…

The Free Financial Advisor · Oct 12