Nearly 1-in-4 married couples don’t have a joint bank account, Census Bureau data shows. What the agency says is behind the separate finances trend
When people get married, they pledge to share a life. But that doesn’t necessarily mean sharing finances. So, how many couples in the U.S. share money? Must Read Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don’t have to deal with tenants or fix […]
Forget the 4% rule — it’s now the 4.7% rule, creator Bill Bengen says. But here’s what you need to consider before you start splashing out completely
It seems the 4% rule is now the 4.7% rule. Three decades after financial planner William Bengen came up with a simple yet elegant solution to help clients balance their retirement spending, the creator of the 4% rule has updated this widely suggested practice for modern times. Must Read Thanks to Jeff Bezos, you can […]
America’s richest families are feeling pressure. What you need to know about commercial real estate
This article adheres to strict editorial standards. Some or all links may be monetized. Many of America’s wealthiest families are, for the first time, selling off properties from their long-held real estate empires. The Wall Street Journal (WSJ) highlighted the struggles faced by New York’s commercial real estate sector, where tumbling property valuations are pushing […]
My great-aunt left her NYC home to me, but I’m not sure why — especially since I’m across the country in California. Is it crazy to turn it down?
Emma, 35, lives in Los Angeles, and recently learned her late great-aunt bequeathed her a Brooklyn home in her will. The property isn’t worth much, but Emma was thrilled at the prospect of owning New York City real estate, and she was touched that her great-aunt left her anything at all. Then reality set in. […]
Scammers are staking out Americans’ front doors in a wily new debit card scheme — here’s what they’re after and how to protect yourself
You may think that credit cards are the payment method most targeted by financial fraudsters, but that’s not true. It’s, in fact, debit cards that fraudsters pursue most — and the number of cases involving them keeps increasing, according to a Federal Reserve survey of financial institutions. (1) And the reasons why this may leave […]
I’ve done the math: I should be able to retire at 66, with $550,000 in the bank and not a penny more. How do I make it last?
This article adheres to strict editorial standards. Some or all links may be monetized. Take the following scenario: Assume you were 56 and want to retire in 10 years with $550,000. Your savings may align with many others your age — the average American aged 65 to 74 has about $609,000 saved (1). But that […]
Suze Orman helped this low-income retiree figure out the best order for tapping into her retirement accounts
This article adheres to strict editorial standards. Some or all links may be monetized. Suze Orman is no stranger to offering her advice on strategies for saving for retirement. On an episode of her podcast, “Women and Money,” she advised Ellen, a 67-year-old retiree, on a fundamental financial question: “Which bucket do I draw from […]
“He turned $200K into zero” — couple in debt after husband refinanced the house and lost the cash through day trading. Dave Ramsey warns the worst is yet to come
Ava and her husband, who live in Charleston, South Carolina, are US$200,000 (C$275,000) in debt after he refinanced the house — and then used most of the cash-out for day trading. “It’s all gone now,” Ava said when she called into The Ramsey Show, seeking advice on how to get out of debt while getting […]
Relief at last: What the Bank of Canada’s new outlook means for your wallet — and how to take back control
The Bank of Canada’s latest Quarterly Financial Report, released mid-November, doesn’t grab headlines the way a rate announcement does, but it offers something just as important: a clear look at how the Bank sees the Canadian economy, the risks it’s watching, and what that means for your mortgage, your savings, and your financial stability heading […]
Couple just had first child and one spouse wants to be a stay-at-home parent — but not sure if it’s wise to temporarily cut RRSP contributions to make it work?
Having your first child is a life-changing event. Suddenly you’re responsible for another person’s well-being and that can prompt major lifestyle changes — including the decision for one parent to stay home full-time. For many families, the financial strain of child care forces this decision to the forefront. For many Canadian families the cost of […]