How Maslow Can Save You from the Blues

According to British researcher Cliff Arnall, the third Monday of January is the most depressing day of the year. Arnall calls it, “Blue Monday.” While some make a reasonable argument that Arnall’s theory is based on pseudoscience, I personally wonder if Arnall may be on to something.

Understanding your options with Inherited IRA’s

I think we all have a pretty solid understanding of how IRA’s work. We know there are annual contribution limits, income level restrictions and different tax treatments for the distributions during retirement, but what happens to these IRA’s when one passes away? There are several important rules that come into play depending on who was designated to be the beneficiary of the account, and what their relationship was to the deceased account owner.

10 Steps to Improve Your Finances at Any Age

A few simple steps can make all the difference when it comes to being prepared for retirement. While it’s never too early to start saving for retirement it’s also never too late to evaluate your financial situation and make sure you are making wise financial decisions. Research shows that these simple tasks can dramatically increase one’s chances of financial success

Two Strategies to Erase Credit Card Debt

Credit card debt can feel like a monster pounding at the front door, threatening to destroy any hope of a secure financial future. Although paying off your credit card accounts may seem overwhelming and can be challenging, there are steps you can take to help you accomplish this goal.

Run the Numbers

Fewer than half of Americans have calculated how much they need to save for retirement. Even though we are consistently prodded with advertisements and resources urging us to estimate how much we will need. Americans are still choosing to ignore the advice of financial experts.

5 Sure Fire Ways to Hinder Your Retirement

Many of us look forward to a retirement full of travel and relaxation. But having a successful retirement requires a lot of early planning. You can’t just expect for all the pieces to fall into the right place if you aren’t taking proactive measures to improve your financial situation. Here are a few common planning errors that can drastically reduce your chances of retiring comfortably.

Should I contribute to my IRA, 401(k), or Savings Account?

Saving is a critical part of your personal financial success. But how much, when, and where you save can also have an important and lasting effect. When you have multiple accounts, you may not be sure where to start, but answering a handful of questions will help you prioritize the order in which you should make contributions to the various accounts available to you.

The Benefits of Working Longer

According to the Employee Benefit Research Institute’s (EBRI) 2012 annual Retirement Confidence Survey, only 14% of Americans are very confident that they will have enough money to live comfortably in retirement. If you find yourself lacking confidence about whether or not you have saved enough for retirement, consider pushing back your intended retirement date. You’ve probably have a target retirement date in your head, but the benefits of continuing to work may be enough to help you get on track.

Generation Lost?

There is an increasing amount of attention gathering around the Millennial generations’ entrance (or attempted entrance) into the workforce. This is truly the workforce of tomorrow, yet things will be very different from the experiences of the previous Baby Boomer generation. The common dream of going to college, starting that dream job, starting a family and purchasing a home have all been faded by the current economic climate. While I realize that the majority of our readers are probably not in this generation, the mass majority of you do have children or family members who are.

How Are You Spending Your Tax Refund?

With tax season behind most of us refund checks are starting to roll in. According to statistics from the IRS this year’s average federal tax refund will be around $2,913. When met with a windfall of funds sometimes our mind can play tricks on us. People tend to view buckets of money differently based on how the funds were earned. Behavioral finance refers to this term as mental accounting.