Finance

Many taxpayers may need to take out money early from their Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on early withdrawals. They would owe this tax on top of other income tax they may have to pay. Here are a few key points to know:

We asked financial advisers for some of the most important ideas they wish their clients understood when it comes to money, retirement, and the future [and here are 7 of the most important].

Today’s infographic highlights some of the potential market risks that could move markets, as well as how specific billionaires are hedging to protect their fortunes.

Let’s take a look at some of the common misconceptions about working with a financial advisor that are being proven to be no longer true.

Congratulations! Paying off your mortgage is a huge accomplishment, one that many people only dream about. Go ahead and celebrate but once the celebrations die down, there's a little more work to do in order to properly navigate your new post-mortgage life. The following four steps should help.

Most people get some kind of raise each year. They earn a little more than they did in the year before. Without a plan to save that raise, it’s very easy to use it up by adding a few luxuries or consumption to your regular spending.

We know all about the tried-and-true ways to reduce our work stress. We journal. We go outside. We take more frequent breaks. These methods are all backed by multiple studies to take away the bundle of nerves keeping us anxious. If these methods are not working for you, however, it’s time to get creative. Here are 4 suggestions:

A study released by GoBankingRates reveals that older people planning their retirement have cause for concern. 42% of Americans are facing their golden years with less than $10,000 in savings.

The sad truth is that many Americans are vastly underprepared when it comes to retirement savings with a 2016 GoBankingRates survey revealing that 33% of Americans have nothing saved for retirement at all and, in total, 56% have less than $10,000 saved. [That begs the question] "How much money does it actually take to retire comfortably?" It seems like one million dollars is the magic number many people think of but is it really necessary? Could some people could get by in retirement on less? Let's explore all the different ways you could live a happy retirement even if you don’t amass a million-dollar nest egg.

In my view, most people who are selecting stocks for their retirement are doing it wrong. Most investors are picking “good companies,” stocks that have gone up a lot in the past, stocks of companies that are soon to release higher earnings, or stocks that have been selected because the technicals look good. All of these make for lousy long term investments. Here's a better path to retirement bliss, one that’s much more likely to work out if you are prepared to put just a little bit of time and effort into your portfolio.