No, you aren’t imagining things. Everything costs more than it did before, and these higher prices make it hard to balance the budget while saving and thinking about retirement. But you can stop inflation from deflating your savings! — In April, the Bureau of Labor released the latest data from the Consumer Price Index (CPI), revealing inflation’s steady creep upward hasn’t stopped yet. The rate of U.S. inflation climbed to a whopping 8.5% …

If you’re a teenager or a college student, it might be tempting to kick back and relax during the summer. Or, maybe it’s the only time you can plan adventures with friends and family. As the legendary Brian Wilson of the Beach Boys perfectly put it, “Summer means happy times and good sunshine. It means going to the beach, going to Disneyland, having fun.” — I believe there is some truth to that sentiment. But landing a summer job can provide valuable life experience. Personally, when I got a summer gig when I was 13, that helped me s et a budget in order to reach a goal. …

For many Americans, retirement isn’t about white sand beaches, or sipping Pina Coladas in the sunshine. For a lot of older people, retirement isn’t about simply relaxing, but really challenging themselves. To pushing their boundaries. To trying new things, meeting new people, and — sometimes — starting a new venture. — But, like all businesses, you can’t start a successful post-retirement venture without that vital ingredient — the capital. So how can you finance a business while in retirement — and how you? …

Now that you’re retired, you’re probably thinking, What’s next? You could travel, spend time with family and friends, or take up a new hobby. But what if you’re not ready to give up work just yet? If that’s the case, you should consider becoming a remote entrepreneur. Becoming a remote…

The average monthly mortgage cost in the U.S. is $1,492 per month according to data from Value Penguin. As such, it’s typically one of the largest line items on a person’s budget. — If homeowners want to reduce this monthly payment faster, there are several mortgage hacks you can implement that will save you thousands of dollars on your home loan. Table of Contents Hack #1 Get rid of PMI insurance.

To retire comfortably, Americans say they will need $1.1 million. ‌Unfortunately, less than one in four will have the savings to do so. — According to the 2022 Schroders US Retirement Survey, 22% of people approaching retirement say they’ll have enough money to maintain a comfortable standard of living. ‌The figure is down from 26% the previous year. Overall, there is a general expectation among Americans that their retirement savings will be inadequate. In…

There’s been a lot of buzz, good and bad, regarding ‌ non-fungible‌ ‌tokens‌ ‌(NFTs). ‌Case in point, over $40 billion was reported as the market value of the NFT market in 2021. ‌You’ve also probably come across the headlines “Meet the 12-year-old coder set to earn over $400,000 selling NFTs,” or the teen who ‌built a $26 million NFT empire. — But, that’s not all. GameStop has launched a wallet for crypto and NFTs. Even the Harvard College Class of 2021 will receive a commemorative NFT.

Retirement is tricky. Oscar Wilde said it best. “When I was young I thought that money was the most important thing in life; now that I am old I know that it is.” — Unfortunately, a majority of Americans may not have enough money to live comfortably and enjoy their golden years. According to a MagnifyMoney poll of more than 2,000 Americans, 59% say they will never be able to save enough for retirement. Additionally, according to a Bankrate survey, 52% of Americans feel…

Taxes can be a major burden for retirees and people saving for retirement, so choosing the right investment vehicle is essential. However, once you retire, one of the most important things to consider is how you will receive your income. Many people choose to annuitize their retirement savings, which can be a great way to let their savings grow tax-deferred and guarantee a steady income stream during retirement. However, there are a few things you need to know about annuities and taxes before making your decision. This post will explain how annuities are taxed and offer some tips on avoiding paying too much in taxes. Read on to learn more.