Managing finances following a divorce can be emotional and overwhelming. Even the best-laid financial plans may seem complicated as you adjust to your new situation and next steps. No matter how complex your financial circumstances may feel, the following steps may help you secure your financial future:
As you think ahead to retirement, do you ever worry that your savings nest egg may come up short? If so, you aren’t alone. Many Americans are finding that they are not as prepared for retirement as they should be.
2017 has been an eventful year in the news, with a seemingly endless stream of fast-breaking developments coming out of Washington and other parts of the world. Through all this commotion, the stock market has posted significant gains. Investors who have stayed invested in stocks have likely been rewarded.
At the same time, investors can’t assume that this market environment will continue. At some point, the long-running bull market (currently in its ninth year) could suffer a decline. Are there steps investors should take to prepare for that? Continue reading In Unpredictable Times, Stay the Course
With all the attention on saving for retirement, it’s easy to overlook another important activity: creating a plan to pay yourself in retirement. More than ever, pre-retirees—especially those who don’t have a pension—will have to rely on a combination of income sources to pay for their essential and lifestyle expenses in retirement. Here are some tips to consider as you design your plan.
Create a plan. A recent Ameriprise Financial study found that more than half of pre-retirees report feeling overwhelmed and anxious about their impending retirement and worry that they will run out of money. The good news is that those with a retirement income plan are more likely to feel confident about their financial future. You too can take action to help lessen fears about the unknown. Continue reading How Will You Pay Yourself in Retirement?
Speaking from experience, the relationship between a financial advisor and his or her clients is incredibly important. Whether you rely on your advisor to help with retirement planning, saving for college, or meeting other goals, this individual will help determine how you approach some of life’s biggest financial decisions. That’s why it’s critical to ensure you’re working with the right person. Here are a few tips to keep in mind when choosing an advisor. Continue reading How to Select Your Financial Advisor
What makes a couple successful in their financial relationship? Ameriprise Financial surveyed over 1,500 couples (those married or living together for at least six months) to learn about their money conversations and how they make decisions. The results revealed eight ways you can improve the financial health of your relationship:
- Understand your partner’s money mindset. It’s normal to have differing views and habits about money, but that doesn’t mean you can’t agree on your financial goals. Couples who report being on the same page financially work to understand their partner’s approach to money and keep the lines of communication open.
Many people who carry a home mortgage dream of the day when they will no longer face the burden of a monthly house bill. They want the financial freedom – and the satisfaction – of owning their home outright. Does that mean you should make paying off your mortgage early a priority? The answer depends on your circumstances and goals. One question you should ask yourself is, “Would the money you spend on your home loan be better spent on or invested in another financial opportunity?” Continue reading Should You Pay Off Your Home Mortgage Early?
What drives the stock market? Quite often, it is fundamental factors such as the strength of the economy and its impact on corporate profits. At other times it is affected, at least in the short term, by external factors that can upend investor expectations and drive markets in a positive or negative direction. Continue reading Will the Election Impact Markets and Investments?
There’s no denying that the cost of childhood athletics is expensive. And while you may not be raising an Olympic-caliber athlete, if your child is one of the 35 million kids between ages 5 and 18 who play an organized sport in the U.S.1, you know about the financial commitment all too well. Expenses add up quickly, and it can be easy to lose track of the cost for your child to be on the team. Continue reading Are You Financially Prepared to Raise an Athlete?
The Federal Reserve (the Fed) has been highly prominent in the news media over the last few months as they debate when to begin raising interest rates. Federal Reserve decisions can have a significant impact on the economy, but the impact on individuals is not always as clear.
By law, the Fed has two primary objectives: To maximize employment and keep inflation under control. Of course, the Fed does not have a magic wand to control economic activity, but it seeks to influence economic trends through what is called monetary policy, or the ability to push interest rates higher or lower. Continue reading Why the Federal Reserve Matters to you