For years, money expert Clark Howard has talked about ways to find missing money from forgotten bank accounts, insurance policies, rental and utility deposits, safe deposit boxes, old pensions and other places. Well, now you can add forgotten 401(k)s to that list! RELATED: Why you shouldn’t cash out your 401(k) when changing jobs Search for
Mutual Fund Supermarkets With a mutual fund, you get access to a bundle of securities that’s managed by a portfolio manager, which means your money will be well-diversified. The diversification element of spreading your money out across hundreds or thousands of individual companies is similar to what you’d get with an index fund. But the
As an alternative to a ‘set it and forget it’ investment like a target retirement fund, you can fill your Roth IRA account with index funds or mutual funds of your choice. An index fund is a cousin of a mutual fund where you own all or almost all of one particular kind of investment.
The gig economy has exploded over the last decade. Today, it’s no biggie to find our neighbors, family members and even co-workers padding their pockets by renting their homes on Airbnb, driving for Uber or doing assorted other jobs here and there. But the gig economy is not just for people looking for a side
If you’re overwhelmed by the idea of investing for retirement, there is no easier choice than a target retirement fund. Here’s how they work: You select the fund with the year closest to when you want to retire and simply put all your money into it. Then the fund manager adjusts the stocks to bonds
Unless you want to keep working forever, you’ve got to learn how to save more today for your retirement tomorrow. According to a Fidelity study, 55% of Americans are at risk of not being able to afford essential living expenses in retirement, such as housing, health care and food. Maybe that number includes you. Maybe
When you leave a job, what do you do with your old 401(k)? Some 43% of people take a cash distribution from it, according to Aon Hewitt, which is a leading employee benefit plans administrator. That number has held remarkably steady over the years; 45% of workers leaving a company in 2007 opted for the
We as a country can’t continue to pay for the Social Security, Medicare and Medicaid obligations that we’ve promised our citizens. The math simply isn’t going to work, especially as we enjoy longer life-spans. When you get right down to it, you are the only who can provide for your retirement — particularly if you’re under 40.
Many people want to create wealth for themselves and their families but are avoiding the step of creating an investment plan out of fear of risk or out of lack of knowledge. Those are real and understandable concerns. Yet the key to investment success when that fear and lack of knowledge are holding you back