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Diversifying your retirement portfolio means spreading your investments across a variety of different asset classes, industries and geographical regions. For many investors, the primary goal of diversification is to reduce risk, but a wisely diversified portfolio may...

The oldest members of the Baby Boomer generation — Americans born between 1946 and 1964 — are in their mid-70s. The youngest Baby Boomers are approaching 60. About 10,000 more Boomers turn 65 every day. As this generation enters and redefines retirement, the most...

When it comes to planning for your financial future, you can work with a variety of professionals. Two of the most common are financial planners and retirement planners. While both can help you achieve your financial goals, they have different areas of expertise and...

As we age, healthcare becomes increasingly important. Getting older means that some of our “original parts” start to wear out and need servicing or replacement. For many people, healthcare expenses represent a significant portion of their budget, especially in the...

As a small business owner, it's important to plan for your retirement. Without the safety net of a corporate pension plan or, in some cases, an employer-sponsored 401(k), small business owners must be proactive in preparing for their financial future. This is...

Divorce does not have a direct impact on your credit score. The state or your lawyers don’t report your divorce proceedings to any of the credit rating agencies and it won’t show up on your credit report like loans or hard credit inquiries will. However, divorce can...

From a young person’s perspective, the ideal 401(k) strategy is usually to start as early as possible and maximize employer match if it’s available. Compound growth is a hugely powerful tool in retirement savings, which means dollars saved in a person’s early 20s will...

Potentially yes – in two important ways. First, the extra income you earn during those final working years can go toward savings and help sustain you in retirement. Properly invested, those dollars can continue growing long into the future. Second, you can put off...

An Exchanged-Traded Fund (ETF) is essentially a bundle of stocks traded under a single fund – similar in many ways to a mutual fund. Funds often track a specific index, like the S&P 500. They’re traded under a symbol like any other equity in exchanges. The first...

All gambling winnings are technically considered taxable income, but you’ll only automatically be provided with a Form W2-G (or 1099-MISC) if you meet certain winnings thresholds at a single gaming establishment over the course of a year. Those include:...

Planning for a successful and fulfilling retirement isn’t easy. In addition to establishing predictable and adequate income for the next several decades, you also need an estate plan, a reliable health care plan, including long-term care and nursing policies, and a...

Universal advice about maximizing tax savings in retirement is hard to come by because every retirement saver and retiree’s situation is different. For example, does it make sense to delay Social Security benefits for you or your spouse until 70, or is the upside of...