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• New Initiatives Aimed at Helping You Save More for Retirement
  The federal government is making changes to help you save and invest for your post-work future. The new rules are designed to help Americans save for retirement by making it more “automatic” – by having workers automatically enrolled in 401(k) or SIMPLE IRA retirement savings plans, having tax refun
• Planning for Retirement While You’re in the Military
  Whether or not you, or your spouse, are considering a full career in the military, it is important to think about, prepare and plan for your retirement years. While it can seem like it is very far off and your everyday needs and wants are more important, starting to save for retirement now – even in
• Generation X (Born between 1968-1983)
  The generation that has grown up in the shadow of the Baby Boomers is accustomed to relying on themselves. However the economic recession has sent a strong message to Generation X workers: “you may have had unrealistic expectations about the kind of financial returns you can expect on your investments..
• Factors to Weigh When Making Your Decision to Begin Receiving Benefits
  There are two schools of thought when it comes to taking Social Security benefits – the earlier you take your benefits the longer you’ll be drawing a monthly check; however the longer you wait the more money you’ll receive in the long run. While it makes the most financial sense to wait as long as p
• In Your 60s
  What once seemed like a dream is now quickly approaching as a reality. However there are still important steps to take to ensuring that you have the resources you need in retirement.. What once seemed like a dream is now quickly approaching as a reality. However there are still impor
• Planning for Retirement
  You can jointly plan for retirement even if you are an unmarried couple. However there are a few differences between what you and your married peers are able to do. For example, by law neither of you will be able. You can jointly plan for retirement even if you ar
• Rethinking How You Plan, Save and Invest for Retirement
  You commit yourself to saving for retirement. You take steps to understand how long your financial resources must last in retirement years so you don’t outlive your savings; you test guideline amounts needed to retire using an online calculator; you start contributing to 401(k) or IRA or SEP or othe
• I don't really need to worry about saving and investing enough now for my retirement. If it isn't enough, I'll just have to keep working no matter how old I am.
  Regardless of whether you have saved enough money to retire, it is very likely that at some point in your life you simply either will not be able to work or there will be no work opportunities. Yes, people are working at jobs later into life, delaying retirement or gradually working their way into f
• In Your 50s
  What should you do now to ensure that your quickly-approaching retirement is an event you look forward to with confidence rather than anticipate with fear? In addition to building on the steps outlined for your 20s, 30s, and 40s there are specific actions you can take now to build a more secure fina
• When to Begin Taking Benefits and How Benefits are Calculated
  You have three options when to begin receiving your Social Security benefits: you can elect to take your benefits early, you can wait until your “normal retirement age, or you can wait until later. If you need to begin receiving benefits early you will earn less; if you can wait to take benefits, th
• Key Considerations for Withdrawing Money from Retirement Savings and Investments
  Gone are the days when experts encouraged retirees that they could safely withdraw 10% of their personal savings and investments each year to bankroll their post-work lifestyle. Most financial planners now suggest withdrawing no more than between 3-5% of your total retirement portfolio each year and
• 401(k)
  What is a 401(k) and Why Should I Have One? Enron. Six months ago most Americans wouldn't have recognized the name.. What is a 401(k) and Why Should I Have One? Enron. Six months ago most Americans wouldn't have recognized the name. Now we're painfully familiar with
• In Your 40s
  As retirement becomes closer your investing time horizon is shortening; saving and investing for retirement must become a high financial priority if you want to be able to reach your retirement lifestyle goals. Here’s how: Define your strategy..
• New Tax Law Allows Seniors to Keep More of Retirement Plan Funds Invested in 2009
  Initially designed as a way to help retirees who have seen the value of their retirement investments drop in the economic downturn, Congress passed a new law that allows IRA and 401(k) plan holders age 70 ½ and older to not have to take a minimum required distribution (MRD) in 2009. The MRD is based
• Catching Up on Retirement Savings If You Start Late
  Bob’s budget was tight when he first began working but he put a little bit aside each paycheck into his employer’s 401(k) He figured it was a good way to save some money on taxes if nothing else.. en he first began working but he put a little bit aside each paycheck into his employer’s 401(k) He
• Managing Your Income During Retirement
  In retirement, perhaps more than any other time in life, you will need to take control of your personal finances.  If you are fully retired (meaning that you are not doing any type of paying work) you will not have a consistent income stream from work or employer-based benefits.. re than any other time in
• Choosing The Best Health Plan
  AS EMPLOYERS CONTINUE TO shift more of the financial burden to their employees, the cost of health care is projected to rise at a double-digit pace (10.1% for the average worker from 2007 to 2008, according to benefits-consultant Hewitt Associates.. AS EMPLOYERS CONTINUE TO shift more of the financi
• Getting Married
  Scenario: Jennifer and Kevin are a newly engaged couple, living in Colorado, beginning to plan their wedding. Jennifer is a 25-year-old teacher earning 28,000 a year.. Scenario: Jennifer and Kevin are a newly engaged couple, living in Colorado, beginning to plan their wedding. Jennifer is a 2
• Important Considerations for Saving and Investing: In Your 30s
  While retirement may still feel like a lifetime away this decade is critical for saving and investing. You still have plenty of time to save and invest and reap the benefits of compounding interest and long-term gains.. l feel like a lifetime away this decade is critical for saving and investin
• Investing in Your 20s
  Starting out in the workforce you have a huge advantage working for your retirement planning: time is on your side. By creating the habit of saving and investing for retirement now, time will enable you to reap the benefit of both compounding interest and long-term gains.. Starting out in the workf
• Financial Tools
  In addition to insurance benefits your employer will likely offer various financial tools that you can use to reduce your taxable income and save for your short-term needs and long-term goals. Health Spending Accounts Healthcare spending accounts provide you with a way to pay for health care expense
• Retirement Planning Worksheet
  OBVIOUSLY, DECIDING how much money you need for retirement is a highly personal calculation. It depends on any number of factors, from your current lifestyle to your general state of health to whether you plan to retire early.. OBVIOUSLY, DECIDING how m
• Which IRA Is Best?
  IRAs offer you a way to create tax-advantaged retirement savings. But with three flavors to choose from - Roth, deductible or nondeductible - figuring out which IRA is the most appropriate for your retirement savings and investment plan can be confusing.. IRAs offer you a way to c
• How Returning to Work May Affect Your Benefits
  Often retirees will choose to return to work – for a variety of reasons. It’s important to know that leaving full-time retirement to begin working again - even on a part-time or seasonal basis – MAY affect your Social Security benefits.. Often retirees will choose to return to work – for
• Before leaving your job
  Roll over any 401(k) savings you have accumulated into an Individual Retirement Account (IRA) An IRA is an investment account you can open through a local bank branch, financial services company or mutual fund.. Roll over any 401(k) savings you have accumulated into an Individual Retire
• Resetting Your Retirement Clock
  With market volatility, economic downturn and financial uncertainty people are increasingly unsure of what they can expect from their employers and if their savings plans for retirement will produce what they need. Many workers are also rethinking how long they will need to work.. conomic downturn and fina
• Compound Interest Calculator
  If you want to know how much an investment will grow over a set period of time, use our compound interest calculator. Compounding is when the interest you earn on the money you invest begins to earn interest.. If you want to know how much an investment will grow over a set period of t
• Step 2: Your Chart
  Just by answering a few basic questions you've already taken an important first step in getting a grip on your financial needs. The chart you see at right is a picture of the types of investments that you should consider based on your responses.. Just by answering a few basic questions you've alr
• Step 3: Take Action
  Now that you've got the "big picture" of what types of investments may be best for you, take a few minutes to answer a few more questions about your saving and spending habits . Once you complete this short questionnaire and click on the "continue" button you'll get a simple, personalized list of re
• Important Considerations for Saving and Investing for Retirement at Every Lifestage
  Retirement is one of the single most important financial goals you’ll ever have. It’s also one of the most expensive.. Retirement is one of the single most important financial goals you’ll ever have. It’s also one of the most expensive. Retirement – the period in life when you no longer work a
• Social Security 101
  Once thought to provide enough income for a retirement lifestyle, today most people recognize that Social Security is just one part – but an important part – of an overall retirement savings package. It’s important to know how Social Security works, when you can begin receiving benefits, and factors
• How Work May Affect Your Benefits
  If you are already retired and considering re-entering the workforce you’ll want to make sure you understand if, and how, your current retirement benefits could be affected including your Social Security, pension, Medicare and retiree health benefits. Social Security If you have already begun receiv
• Avoiding Additional Debt
  It’s important to encourage the person you are trying to help to avoid taking on debt or increasing existing debt if at all possible during this time. While it may not be possible to avoid borrowing some money during this crunch urge them to: try to only use cash when shopping keep a record of charg
• Saving for Retirement When You're Not Working
  When 32-year-old Eveline found out she was pregnant she began counting the months until her baby's arrival… and she could leave her full-time job as a sales representative for a pharmaceutical firm.. When 32-year-old Eveline found out she was pregnant she began counting the months until her baby's a
• Who are annuities good for?
  Any investment choice depends on many factors including your personal circumstances, your age, the amount of risk you feel comfortable taking, the amount of time you have before you need the money, and your other assets, investments and financial realities. When you are young, it’s typically better
• Getting Started
  The first step is to get a firm grasp on how much money you have available to tap into. There are three main sources of income for most retirees: Employer retirement benefits - pension plan funds, 401(k) or other defined contribution retirement plan payouts Social Security benefits Savings and Inves
• When to Begin Taking Social Security Benefits
  The amount of your Social Security benefits is determined by your age when you begin taking benefits compared to the Social Security Administration’s “full retirement age. Your full retirement age is based on your birth date.. The amount of your Social Security benefits is det
• Millennials (Born 1984-1992)
  If you’re a member of “Generation Y” you’re either just starting out in the workforce or have a few years under your belt. For most millennials retirement seems like, well, a millennium away.. neration Y” you’re either just starting out in the workforce or have a few years under your belt. For most millennials retire
• Baby Boomers (Born between 1946-1967)
  Baby boomers that already were planning and ready to celebrate retirement were perhaps the hardest hit by the recent recession, and now are the most disillusioned about when they will be able to exit the workforce. The MetLife Mature Market Survey found that of the 11% of boomers born in 1946 who pl
• I could never be an investor.
  FALSE.   You already are an investor even if you do not yet own a single . FALSE. You already are an investor even if you do not yet own a single stock , bond or mutual fund . If you’ve ever spent time on raising kids, learning to cook, or improving
• Adapting to an Unplanned Retirement
  Most of us have a vague idea of how our work life will progress – we’ll spend a few years deciding what we really want to do, get established in our careers, move companies or organizations a few times, progress up the pay scale and then - at a point of our choosing in our sixties or seventies - we
• Before re-entering the work force
  Research your potential future employers. Look for an employer offering a defined contribution (401(k) or defined benefit retirement plan (pension). Research your potential future employers. Look for an employer offering a defined contribution (401(k) or defined benefit retirement plan (pension) Cl
• Avoiding Debt and Generating Income
  Determining how much money to safely withdraw is only part of the equation. In addition you’ll need a plan to continue creating savings/ wealth.. Determining how much money to safely withdraw is only part of the equation. In addition you’ll need a plan to continue creating savings/ wealth. The fi
• Retirement
  Do you have a plan for your retirement?  Whether you are a few years or a few decades away from leaving the workforce it’s never too late begin making choices to ensure that you have the resources you’ll need to enjoy your retirement years. Although retirement planning can seem complicated there are
• Create or Update Your Wills
  While no one particularly likes to think about their eventual death, it is incredibly important that both you and your spouse have wills drawn up to specify what you want to happen when you pass away. It is estimated that nearly 70% of all adults die without a will.. While no one particularly
• Borrowing Against Your Retirement Savings
  While experts don’t recommend tapping into your retirement savings for any reason- because you are putting savings and potential interest and growth opportunities at risk- you may be considering this as one of your only options. Before you do anything, let’s look at what’s involved in borrowing agai
• Financial Issues and Concerns
  One of the top reasons that most families give for merging households is economic pressure and an inability to afford more than one household. This situation is compounded if families are suddenly faced with an additional setback such as a divorce or a family member getting ill, losing a job or beco
• The Risks of Not Saving & Investing
  There are four major risks of not saving adequately for your future needs and goals: The likelihood of Social Security benefits not providing adequate money for a long-term, post-retirement lifestyle That your life expectancy will outpace your savings The possibility of a major unexpected life or ec
• Combined Debt and Equity Investments
  Some investments enable you to invest your money both in debt and equity instruments at the same time such as: Retirement Plans There are special types of investment plans to help you create retirement savings by allowing you to deposit money from your paycheck before taxes are taken out. Among thes
• How It Works
  While you work you are building your future Social Security retirement benefits. You pay into Social Security through a payroll tax which is deducted from your paychecks, or you pay as part of your quarterly estimated or year-end tax bill.. While you work you are building your future Social
• Where do I start?
  You'll need to file two separate tax forms - federal and state income taxes. You can get tax forms online at . You'll need to file two separate tax forms - federal and state income taxes. You can get tax forms online at www.irs.gov/formspubs , through the IRS p
• FDIC Bank Deposit Insurance – What It Is and What You Should Know
  With the recent news of a handful of banks failing people are increasingly concerned about the safety of their bank deposits. How can you know if your money is safe when you deposit it into a bank and if your bank does fail, how much of your money does the FDIC insure? The FDIC (Federal Deposit Insu
• When Income Exceeds Expenses
  Congratulations! You have savings potential. Are you currently saving money or are you spending your excess? If you aren’t currently saving money, the good news is that you have the most important thing to become a saver - -money! Instead of thinking about your excess income as money to play with (a..
• Steps to Take in Your 30s and 40s
  At this stage of your life you have probably settled into a career and have a few thoughts about where you would like to be personally, professionally and financially in your future. This is also a stage where you may begin making some significant choices and investments such as returning to school
• Setting Goals
  List your goals and then decide how long a period you have before you want to achieve the financial ability to meet this goal. For example, if you want to buy a home and you want to invest your savings to create a significant down payment amount, when would you want to become a homeowner?  If you wan
• Financial “Things to Do” Before the Year’s End
  With the holiday season officially underway it can be easy to spend most of your “financial thinking” on all of the holiday gift-giving, traveling and entertaining you will, or would like to be able to, do. But there are five simple things that you may want to consider doing to tie up some financial
• Money Deposited in Bank Accounts and Credit Union Accounts
  Up to 250,000 of money you deposit in an FDIC-insured individual bank account, up to 500,000 for joint accounts and up to 250,000 for individual retirement accounts (IRAs) are guaranteed safe by the federal government. If you have more than that amount in a particular bank, it is not guaranteed t
• When You Need to Delay Retirement or Go Back to Work
  According to the Rand Corporation and the National Institute on Aging, the number of older workers choosing to stay in the workforce has consistently grown since the early 1990s. The trend is accelerating.. According to the Rand Corporation and the National Institute on Aging, the
• Strategies to Drawing Down Your Retirement Savings and Investments
  From the time you begin working you read and hear about the importance of saving and investing for your eventual retirement. But how do you create a plan for spending it once you reach retirement?  With a current average life expectancy of 77 and an average retirement age of 62 most retirees will hav
• The Young Couple
  Scenario: Marcus and Julie, both 27, live in Tennessee and have been married for a year. Julie is in nursing school and also works part-time as a nursing assistant at a local hospital.. Scenario: Marcus and Julie, both 27, live in Tennessee and have been married for a year. Julie is in
• The Risks of Not Saving
  There are four major risks of not saving adequately for your future needs and goals: The impact of inflation on your savings The likelihood of Social Security benefits not providing adequate money for a long-term, post-retirement lifestyle That your life expectancy will outpace your savings The poss
• 10 Smart Ways to Make a Little Extra Savings Go a Long Way
  Regardless of your age, how much or how little you already have saved, or how little you feel like you can save, it's never too late to start saving for your future Every little bit - at every stage - can add up to a significant amount.. Regardless of your age, h
• Benefits
  Self-employed people have to provide their own benefits, including health insurance and retirement plans that may once have been provided by employers. If you have other employees, you may need to offer benefit plans to them as well.. Self-employed people have to provide their own ben
• I have a pretty good budget, but....
  Ultimately, you'll need to decide for yourself what financial goals are most critical for you to reach. Everyone's financial planning methods are different…personal.. o decide for yourself what financial goals are most critical for you to reach. Everyone's financial planning methods are different…personal. Following
• After you've left your job there are a few important steps to take
  Open an IRA. Even if you don't have any accumulated retirement savings through your previous job, open an IRA to begin banking some savings through small or moderate lifestyle changes. . Open an IRA. Even if you don't have any accumulated retirement savings thro
• Asset Allocator
  ASSET ALLOCATION is a crucial first step in creating a well-diversified portfolio. The worksheet below will help you tailor your asset mix to your own particular needs.. ASSET ALLOCATION is a crucial first step in creating a well-diversified portfolio. The worksheet bel
• Should You Borrow from Your 401(k) or 403(b)?
  These days more than 85% of workers with 401(k)s can borrow money from their retirement plans. And a growing portion of 403(b) plan participants can too.. These days more than 85% of workers with 401(k)s can borrow money from their retirement plans. And a growing portion of 403(b
• Ending the Year on the Right Foot
  Only a couple more weeks before we ring in the New Year. But there's still time to make a few decisions that will minimize your taxes for this year and help you start out on the right foot financially next year.. Only a couple more weeks before we ring in the New Year. But there's still
• Work and Child Care
  Perhaps the biggest question facing soon-to-be parents is what they will do regarding their current employment and caring for their newborn. If both you and your spouse are working to earn an income, you’ll need to figure out how you will care for your child until s/he is school-age..
• Investing
  Many of us do not think of ourselves as investors. We may have created a budget and watch our spending; we may have savings accounts—or even a checking account that earns interest – but we may not have begun investing our savings because we haven’t mentally crossed the line from being a saver to bei
• Considering the Tax Implications
  If you have already begun tapping into retirement benefits (i.e.. If you have already begun tapping into retirement benefits (i.e. pension, 401(k) IRA, Social Security, etc. your new job could affect how much you pay in overall taxes. For example: Traditional IRAs and 401(k) retirement savi
• Questions to ask when considering buying an annuity
  Does buying an annuity fit in well with my overall retirement savings plan that includes IRAs and employer-sponsored 401(k) plans first? Am I maximizing my contributions to other tax-free retirement investment options first? Unless you have a special need that only an annuity can fill, such as a dea
• Money Deposited in Credit Union Accounts
  All federally chartered and most state-chartered credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF) which is a federal fund that is backed - like the FDIC - by the full faith and credit of the U.S.. All federally chartered and most state-chartered c
• Benefits
  Self-employed people have to provide their own benefits, including health insurance and retirement plans that may once have been provided by employers. If you have other employees, you may need to offer benefit plans to them as well.. Self-employed people have to provide their own ben
• Ready to Buy a Home
  Scenario: Malcolm and Gayle are a young couple living in Iowa. Both have full-time jobs earning a combined annual salary of 80,000.. Scenario: Malcolm and Gayle are a young couple living in Iowa. Both have full-time jobs earning a combined annual salary of 80,000. Their main monthl
• Caring for Dad
  Scenario: Bill is 54, married with 2 kids and living in Michigan. His father, John, a widower, suffered a stroke 6 months ago and had to be moved to a nursing home.. Scenario: Bill is 54, married with 2 kids and living in Michigan. His father, John, a widower, suffered a stroke 6 months ago
• A Divorcee
  Scenario: Jill is a 30 year old public relations assistant living in Massachusetts. She is in the process of getting a divorce from her husband of 4 years.. Scenario: Jill is a 30 year old public relations assistant living in Massachusetts. She is in the process of getting a divorc
• Why Do You Want to Work
  Knowing why you need or want to go back to work can help you make more informed employment decisions. For example if… you want to find less expensive health insurance then you may want to be more flexible on the type of position you’re looking for, which industry you work in, and focus only on full-
• Can You Afford Not To?
  You may find that starting your business is more of a necessity than a choice. If your employer closes or moves and you don’t have many other job opportunities in your area, working for yourself may be your only option.. You may find that starting your business is more of a necessity than a choi
• When You Lose Retiree Benefits
  Karen was enjoying retirement after 32 years of work as a registered nurse. Her Social Security and savings provided a modest, but adequate, income and she was grateful for a generous retiree benefits package from her former employer which included a pension and health insurance.. ment after 32 years of wo
• Saving
  Saving money is not something that we, as Americans, are very good at. In fact the U.. hing that we, as Americans, are very good at. In fact the U.S. Department of Commerce reported that America’s personal savings rate is the lowest in the industrialized world. .Saving money is a critical habit to develop a
• Alternatives to Using a Check-Cashing Store
  There are alternatives. While it can seem more convenient and even comfortable to use a check-cashing store, the truth is that there are much better, less expensive options that will perform the same services and leave you with more money in your pocket or to send home.. There are alternatives. W
• 10 Simple Steps to Start Saving Money Now
  Develop a simple, easy to implement plan with Tomorrow's Money “Personal Savings Schedule” Click here to link directly to the site’s . Develop a simple, easy to implement plan with Tomorrow's Money “Personal Savings Schedule” Click her
• A Widow
  Scenario: Marilyn is a 51-year old widow, living in Delaware, supporting two teenagers. When her husband died unexpectedly, she had to return to the work force full-time.. Scenario: Marilyn is a 51-year old widow, living in Delaware, supporting two teenagers. When her husband died unexpectedly, s
• When Your Parents’ Retirement Plans Change
  What do you do when you parents’ retirement plans change? When their finances, benefits and insurance no longer enable them to maintain the lifestyle they envisioned in their older years or to meet their current financial and personal needs? . arents’ retirement plans change? When their finances, benefits and insuranc
• Stretching Your Retirement Spending Dollar
  During retirement you are going to have to make your income and savings stretch further than before to reduce the risk of outliving your financial reserve. To do that you will need to start with a plan for how to strategically draw down your retirement savings and investments , and then mindfully ma
• The Importance of Opening and Acting On Your Retirement and Investment Account Statements When the Financial Markets are Volatile
  With the wild fluctuations in the financial markets Americans are, understandably, nervous to see how their own investments have fared. What do you do when your retirement or brokerage account statements come in the mail?  While it can be tempting to file them away or even toss them out, it’s actuall
• Managing Your Self-Employment Retirement
• Managing your Individual Retirement Accounts (IRAs)
• Managing Retirement-oriented Investments
• Individual Retirement Accounts
• Employer retirement plans
• Continuing Care Retirement Communities
  Continuing Care Retirement Communities (CCRCs) can be a very attractive housing alternative because they offer the security of knowing that your long-term housing, services and nursing care will all be provided in one development as you age. CCRCs are age-segregated, meaning that it is a housing com
• Your Home as a Source of Retirement Funds
  If you own your home you may have another option for creating a stream of income during retirement: a reverse mortgage. A reverse mortgage is a financial tool that allows you to tap into the equity you have built up in your home to help with one-time or everyday living expenses once you reach the ag
• Health Insurance Options During Retirement
  Health care is one of the biggest spending categories for seniors.  According to the Bureau of Labor Statistics the average American age 65 or older spends more than 4,100 out of pocket on health care costs annually.. Health care is one of the biggest spending categories for seniors. Accordin
• Planning Your Exit
  Setting clear goals for your business involves having some end in sight, even if that’s your own retirement. You may want to build a business that can someday be sold to a competitor or even taken public in a stock offering (in which case it has to be quite big and quite stable).
• Getting off to a Good Start as an Investor: Making a Plan for Your Finances
  We weren’t born knowing how to make financial plans and many of us did not learn much about personal finance and investing in school. However, that does not mean you can’t take steps now that will help you make plans for your finances and investing.. ow to make financial plans and many of us did not
• What's New
  This section will list new articles, features and tools to the Tomorrowsmoney.org suite of sites as they are posted. Refer back to this section regularly to see what new information we have to share to help your audiences gain control over their personal financial planning to create a more financial
• Tax Changes that Could Affect Your 2008 Tax Bill
  There are a few new changes to the tax law that could affect your 2008 federal income tax bill. These changes are important to know about especially if you’re preparing your own taxes.. es to the tax law that could affect your 2008 federal income tax bill. These changes are important to know about especially i
• In a Tough Economy, the Federal PLUS Loan May Give Parents Extra Cash Needed for a Child's College Tuition
  If you have a son or daughter in college, the recession may have impacted your savings and investments at a time when you were depending on those resources to pay for college. With lenders tightening up requirements to qualify for personal or home equity loans you may be looking for other financial
• Sharing Financial Accounts or Keeping Them Separate?
  In addition to deciding how you will handle household expenses, you will also need to, or should, talk about your financial accounts. Financial accounts include checking accounts, savings accounts, money market accounts, credit cards, non retirement related investment accounts (i.e..
• It takes a lot of money to be an investor
  FALSE. You have probably heard that it takes money to make money, and that’s true to a degree, but it does not take a lot.. FALSE. You have probably heard that it takes money to make money, and that’s true to a degree, but it does not take a lot. If your employer offers a r
• Recalculating Your Financial Future
  Whatever your reasons for wanting to back to work – or to delay retirement – it’s important to get an accurate picture of your financial situation. If you don’t already have a working budget. wanting to back to work – or to delay retirement – it’s important to get an accurate picture of you
• Buying vs. Leasing
  To buy or to lease that is the question. But what, exactly, is leasing and is it a better deal than buying? Let’s review.. s the question. But what, exactly, is leasing and is it a better deal than buying?  Let’s review. Buying a car. When you buy a car, you, well, buy it. Meaning that you either p
• Investing
  One of the most common questions single women have as they begin taking control of their finances is “how do I become an investor? Too often women are under the wrong impression that there is some sort of “one size fits all” way to invest. There isn’t.. estions single women have as they begin taking con
• Step 1: Start Here
  Everyone wants to look forward to their future with confidence, but it's difficult to know how to save and invest until you know three things: How much money you currently have How much money you'll need, and What type of investments to look into given your own personal needs. This calculator is the
• Step 1: Begin Here
  Everyone wants to look forward to their future with confidence, but it's difficult to know how to save and invest until you know three things: How much money you currently have How much money you'll need, and What type of investments to look into given your own personal needs. This calculator is the
• SmartMoney 401(k) Planner
  The goal of participating in your employer’s 401(k) retirement savings program is that it will grow over time so that when you’re ready to retire you’ll have the money you need to do so. Our 401(k) calculator can help you see how your retirement savings will grow — and how long you can expect that m
• How Long Will My Money Last?
  IT SEEMS these days that everybody wants to retire by the age of 45. Is it just wishful thinking? Our calculator will help you figure how long your investments will last.. IT SEEMS these days that everybody wants to retire by the age of 45. Is it just wishful thinking? Ou
• How Much Interest Will You Pay?
  DOES YOUR credit card balance keep inching upward? Then before you charge one more thing, you should assess the cost of that debt. A balance of just 5,000 at 15% will cost you 421 in interest if you manage to pay it off within a year..
• How Much Should You Save?
  FIRST, THE BAD NEWS: If you have dreams of sending your newborn child to Harvard, you'll have to raise a small fortune to foot the bill. Now, the good news: Thanks to the emergence of 529 plans, saving for college is easier than ever.. FIRST, THE BAD NEWS: If y
• My Budget Worksheet
  If you’ve never created or used a budget before, take it step by step. Using the following step-by-step calculator we’ll walk you through the process of determining what source of income you have, what monthly and annual expenses/investments you may have, and what assets, or possessions of financial
• I've gotten myself into a financial mess.
  Have a few late bills? Do you chronically miss credit card payments? Have you defaulted on a loan? Having a poor credit history can wreak havoc when trying to plan for your future. For example, you may end up being turned down for loans or you may be approved for a loan, but at a higher interest rat
• The Single Woman
  Scenario: Rosa is a 40-year old single woman living in Rhode Island. She is a manager of media development for a large Fortune 500 company.. Scenario: Rosa is a 40-year old single woman living in Rhode Island. She is a manager of media development for a large Fortune 500 company. She earns
• Start Out Smart! 7 Money Moves to Make Now
  Congratulations – you have a job! Your first full or part-time job can be exciting, overwhelming and scary…all at the same time. The biggest benefit is of course having a real paycheck! Before you run out and spend that entire first paycheck, there are a few wise financial “first moves” you should c
• Figuring Out the “What Ifs”
  Although this is a very exciting, hopeful time for you as a couple it’s important to talk about, and make contingency plans for, things that none of us particularly want to consider but need to be discussed. These include… Thinking about a prenuptial agreement. While it can seem extremely unromantic
• What Type of Bond Do I Want to Buy?
  Most bonds are issued by one of three groups: the U.S.. Most bonds are issued by one of three groups: the U.S. government or federal agencies; state and local governments, and corporations. Here's a breakdown of the types of bonds
• Medicare Part D
  helps lower the cost of prescription drug expenses for people who have Medicare Part A. There are two ways to obtain Part D prescription drug coverage: Apply for a Medicare Prescription Drug Plan (called PDPs) Apply for a Medicare Advantage Plan or another Medicare health plan (called MA-PDs) that i
• What kinds of annuities can I invest in?
  There are many different kinds of annuities designed for investors: of different ages with different life goals, with different investment needs and in different tax brackets. Most annuities available today have some combination of these features: Single Premium or Flexible Premium With a single pre
• What is an annuity?
  Annuities are investments that you can use to turn savings into a dependable income stream for retirement or to provide financial support for your loved ones after your death. An annuity is a contract between you and a life insurance company.. Annuities are investments
• Assisted Living Facilities
  Assisted living facilities may be an ideal alternative if you would prefer some assistance with daily activities and the companionship of other residents. Assisted living facilities are not intended for people with significant medical needs or disabilities - conditions that would be better cared for
• 10 Great Things to Do with Your Tax Refund
  According to the IRS nearly 75% of all Americans will get a tax refund this year, averaging nearly 2,500. Do you anticipate receiving a refund? If so, don’t just rush ahead and spend it.. According to the IRS nearly 75% of all Americans will get a tax refund this year, averaging nearly
• How Do I Start Investing?
  Many beginning investors do not have a lot of money. The important first step is to create an investment plan that identifies the asset classes and types of funds that you might want to invest in long-term.. Many beginning investors do not have a lot of money. The important first st
• Tax Changes that Could Affect Your 2008 Federal Income Tax Bill
  There are a few new changes to the tax law that could affect your 2008 federal income tax bill. These changes are important to know about especially if you’re preparing your own taxes.. There are a few new changes to the tax law that could affect your 2008 federal income tax bill. Thes
• Making Work Pay Tax Credit Boosts Take-Home Pay for Workers, Provides $250 Benefit for Retirees
  The Obama Administration’s American Recovery and Reinvestment Act stimulus package includes a temporary two-year “Making Work Pay” tax credit. The credit will provide working individuals with a little more money in their paychecks in 2009 and 2010.. The Obama Administration’s American Recovery and R
• Making Plans for Next Year's Taxes
  After you've hit "send" or dropped your completed tax forms in the mail, take a little time to set yourself up to not find yourself in "tax panic" come next year. Consider creating a budget.. After you've hit "send" or dropped your completed tax forms in the mail, ta
• Grandparent with Grandchild
  Scenario: Olivia is 72 year old retired widow living in Nevada on her Social Security benefit and her husband’s pension. She has always lived modestly and was sure she would be okay in retirement.. Scenario: Olivia is 72 year old retired widow living in Nevada on her Social Security benefit and he
• Steps to Take in Your 50s and 60s
  You are now at a transitional point of life where you need to realistically assess what you have and what you need going forward: Re-evaluate your retirement needs with our retirement calculator Evaluate how your assets are allocated and work with a financial professional to ensure that your investm
• Earning
  You may have one sole source of income or you may have many different “streams” of income – such as part-time jobs, seasonal work, alimony, settlement income, etc. In large part your financial security will depend on your ability to obtain jobs that will provide you with adequate income and benefits
• Similarities between Health and Money
  Let’s consider some of the similarities between your health and your money, and then address small ways that you can begin making positive steps in both areas. Barbara O’Neill and Karen Ensle at Rutgers University have identified some interesting, practical similarities between money and health and
• Changes You Could Make at the Office
  Just like making changes around the house, there are things you can do during your workday to feel better about the impact you and your co-workers are having on the environment. Create a recycle box.. Just like making changes
• Buying Green What It Means and Why People are Doing It
  Buying green means different things to different people, but most commonly it means purchasing items or services that capitalize on our planet’s natural resources and reduce potential harm to the environment. Up until recently we haven’t had an easy way of talking about how much we consume in a way
• Your Current Debt and Ways to Save for a Mortgage Down Payment
  The amount of debt you currently have and your credit score (which tells lenders how reliable you are about repaying your debt and loans) will also affect how much interest you will be charged on your loan. You should consider getting a free copy of your credit report now, early on in the home-buyin
• What difference does the interest rate make
  Even a small difference in interest rates can make a big difference in how much you'll owe or you'll earn. The key is when it comes to debt you want a low interest rate and when it comes to saving and investing you want a high interest rate.. Even a small difference in interest rates can make
• The Single Male
  Scenario: Steve is a 32-year old single male, working as an accountant for an oil drilling firm in Texas. He has been with the company for 2 years and currently earns 48,000 about 39,000 after taxes.. Scenario: Steve is a 32-year old single male, working as an accountant for
• Conclusion
  Retirement is an important time in life to stay on top of and engaged with your own personal financial planning. While there is no one, fixed strategy to plan out your retirement savings drawdown, by planning carefully, making informed choices and remaining flexible you can stretch your savings and
• How to Balance a Checkbook
  Elise dreaded paying bills. By the time she was finished she was so grateful to have the job done that she didn’t want to tackle balancing her checkbook.. Elise dreaded paying bills. By the time she was finished she was so grateful to have the job done that she didn’t want to tac
• Financial planning, saving and investing isn’t really my thing. I believe it's better to simply live for today. You don’t know what will happen tomorrow anyway.
  Many people fear dealing with financial issues, feel overwhelmed at the thought of managing their money, are convinced that they don’t have the skills needed to create their own financial security, or don’t think it will matter anyway. The truth is that not only do you have the basic abilities neede
• My family never had money when I was growing up, but my parents did okay.
  All of us have a “financial past” and for most of us our present-day views on money were, to a smaller or greater extent, built upon that past. But times change.. All of us have a “financial past” and for most of us our present-day views on money were, to a smaller or greater extent, bui
• A Baby on the Way
  Scenario: Eddie and Ellen are both in their early 30s, have been married for 3 years and are living in Connecticut. They bought Ellen’s grandmother’s house when she decided to downsize.. Scenario: Eddie and Ellen are both in their early 30s, have been married for 3 years and are living
• What's New This Month
  July '09 : IOUs Issued by the State of California Strapped for cash, the state of California has started issuing more than 3 billion in IOUs to businesses, individual tax payers and county governments to whom it owes money. California state government officials have indicated that the IOUs – which
• Adapting to Long-Term Temporary or Independent Contract Work
  Since the recession of 2008 employers have been slow to re-hire people for positions that they cut. If you lost your job, you may have started working with a temporary staffing firm or working as an independent contractor, or freelancer, to help make ends meet.. 08 employers have been slow to re-hire people for
• Set a Course for Where You Want to Go
  Once you have evaluated where you are financially – what income, savings, expenses and debt you have – you are now able to begin setting a course for where you want to go financially in the future, and take steps in that direction. Following are a few tips for thinking about your financial goals: Ac
• 16 Warning Signs You Could Be Heading for Financial Trouble
  We’ve all done it before – forgotten to pay a bill on time, charged more on our credit cards than we should, etc. But there are some financial “red flags” you should pay attention to realize that without a course correction, you’re headed for financial trouble.. – forgotten to pay a bill on time, charged more on
• Other Factors Influencing or Affecting Your Investments
  As with most things in life, becoming an informed investor takes a little time, learning and self-education. In addition to knowing what type of investment options there are – in other words, where you can invest your money to hopefully make a return – it’s important to know how money works in an in
• Eleven Steps Single Moms Need to Take
  Single moms have mastered the art of multi-tasking. Working, making phone calls, vacuuming, paying bills, feeding kids and taking them places, responding to emails …. Single moms have mastered the art of multi-tasking. Working, making phone calls, vacuuming, paying bills, feeding kids and ta
• More about Debt Financing
  Although banks and financial institutions may advertise how much they enjoy lending to small businesses, do not expect to qualify for a loan without a solid business plan and some track record of success. Small business loans from banks usually have at least a 50,000 minimum because the banks canno
• Annuities
  Annuities are widely promoted by financial institutions as a retirement planning tool. They are not always as simple as they sound, however, and they are not always the best choice for every investor.. Annuities are widely promoted by financial institutions as a retirement planning tool. They are not
• Setting up Direct Deposit
  Direct deposit is when you choose to have payments due to you directly deposited into your bank account instead of having a paper check, money order or cash mailed to you at your workplace or home. Types of payments that you can have directly deposited into your bank account include: Paychecks Tax r
• Tips to Maintain Financial Stability
  Life changes. And you, with a fluctuating income, probably know that better than most. There are some things to keep in mind that can help you stay on track with your plan to create more personal financial stability.. Life changes. And you, with a fluctuating income, probably know that better
• First Steps
  Once you have made the choice to take back control of your financial life there are some immediate first steps you can take to feel empowered and make a significant, positive difference Get rid of the guilt. Feeling guilty or. Once you have made the choice to take back control of your financial life t
• Silent Generation (Born between 1926-1945)
  Most members of the silent generation are already in some form of retirement (i.e. fully retired or working part-time, occasionally or seasonally to bring in some additional income) So what happens if you realize that you need to go back to work after you have already left the workplace? . t generation are already
• Open Enrollment
  Tara and Erik are a two-income family. Tara works as a paralegal and Erik works as a family counselor at a nonprofit for troubled youth.. Tara and Erik are a two-income family. Tara works as a paralegal and Erik works as a family counselor at a nonprofit for troubled youth. They have a t
• Filing an Amended Tax Return
  Even if you double checked all your numbers and reviewed every line of your completed federal tax return, it is possible to inadvertently make a mistake. Maybe you forgot about some income you had earned when you received a W. Even if you double-checked all your numbers and reviewed every line of your
• Going it Alone or Together
  Even though you and your loved one have chosen to live together, it doesn’t necessarily mean that you have to choose to combine your finances. Instead of “falling” into the topic by default (i.e. a utility bill arrives in the. Even though you and your loved one have chosen to
• It's too late for me to start.
  Nonsense. You know the tired bumper sticker “It's never too late to have a happy childhood” Well, it's true that it's never too late to start saving and investing.. red bumper sticker “It's never too late to have a happy childhood” Well, it's true that it's never too late to start saving and investing. Sure, your
• Will They Need Help?
  IT'S ANYTHING BUT a sure bet. But before you help a parent or other elderly relative, sort through the long-term-care strategies.. IT'S ANYTHING BUT a sure bet. But before you help a parent or other elderly relative, sort through the long-term-care strategies. It's a good idea to
• Digging Out of Debt
  THE SECRET to paying off credit-card debt is really very simple: All you need to do is earn more than you spend, and apply the savings toward paying down your debt. So then what makes tackling credit-card debt so hard ? Sadly, many seem to be losing the battle of the credit-card balance. Consider th
• Welcome to Tomorrow's Money for Young Adults
  What do you want out of life?  Almost any goals you have—start a job, rent an apartment or buy a home, buy a car, get married, have a family, be more financially independent and secure…The common denominator of nearly all life goals is that they require money. Every day you interact with money. You s
• Why Should I Care About Saving?
  Saving means to put some money aside for later use. When your kids are little, you encourage them to put some of their birthday money in their piggy bank.. Saving means to put some money aside for later use. When your kids are little, you encourage them to put some of their birthd
• When Debt is Overwhelming You
  As a single mother Dana is used to making her income stretch. But with the rising cost of basic necessities like gas, food and utilities, and her growing son's needs, her paycheck isn't stretching far enough.. As a single mother Dana is used to making her income stretch. But with the
• Once You Die
  Your Social Security retirement benefits do not necessarily end upon your death. If you have enough credits from your years of working, your surviving spouse and/or dependents will receive a one-time payment of 255.. Your Social Security retirement benefits do not necessarily end upon your d
• Spousal Benefits if You are Divorced
  If you and your spouse have divorced you may still be eligible for spousal benefits. To qualify: both you and your spouse are at least 62 years old (or 50 if you are disabled or, if you are caring for a child eligible for benefits the age requirement is waived) you must have been married for at leas
• Transferring Military Homeowners to Get Expanded Assistance
  Military service members, their families, and federal Department of Defense (DoD) civilian employees who stand to lose a lot of money on the sale of their home as a result of a transfer order may be able to get some much- needed financial assistance. The U..
• Seasonal Stories
  Fall Home Buying 101 Want to become a homeowner? Wonder what it will take to get there? Click here to check out our new series on "Home Buying 101" - a step-by-step monthly guide to turning the dream of homeownership into a reality . Open Enrollment It's fall - the "open enrollment" season for thous
• When Work Changes or Jobs Go Away
  You may live in a region that is experiencing a high rate of job loss without having replacements for all those jobs. Or you may be working in a sector of the economy that has been hard hit by the loss of well-paying jobs, such as the automobile or manufacturing sectors.. You may live in a region
• Calculators
  Our calculators are designed to help boost your confidence to make informed financial decisions by giving you a stress-free way of comparing different scenarios and outcomes. We have an array of calculators related to managing your personal finances such as planning for retirement, managing debt, pa
• Important Steps at Each Stage of Your Life
  Each stage of life presents different opportunities and challenges. For example, single adults just starting out in the workforce have the gift of time to begin planning for their future, but need to begin developing wise financial habits at the start to reach them.. Each stage of life presen
• I am not sure how to help someone who is in financial trouble and is looking to me for assistance.
  Every day people find themselves facing sudden, unexpected or unwanted life changes that affect their ability to earn money, pay bills, and make choices to keep life working for themselves and their families. Young people, college graduates, seniors, single parents, middle-aged workers – none of us
• Age
  The longer you have to save and invest, the less you have to cut back your exposure to equities (stocks) Historically, over time spans of 20 years or more, the ups and downs of global stock markets have always favored the ups.. The longer you have to save and invest, the less you have to cut back your
• Overcoming Obstacle Number Two: Finding Money
  Unlike students who have not entered the workforce, adult students are often unsure about how – or if – they can afford to leave full-time work with its wage/salary, benefits (including insurance, paid vacation, etc. and career advancement possibilities.. Unlike students who have
• Disability Insurance
  If you suffer an accident or illness and become disabled (either temporarily or permanently) and have a disability insurance policy you can use your benefits to pay for the medical care and supportive services you require. .
• Common Financial Myths Single Women May Believe
  Most women heard or sensed certain negative messages about money growing up such as: men should or will earn more money than women; men are better in math and therefore in understanding how to work with money than women; a woman’s income will most likely as be a “second income” within a family’s fin
• How will I know who is right for me?
  The bottom line is that you want to work with a financial professional that is competent; is in compliance with all laws regulating their industry; is someone that you "click" with; and is someone you can afford. First, professional competence.. The bottom line is that y
• What Credit Unions Offer
  Credit unions offer their members a wide variety of financial products and services. At a minimum, credit unions accept deposits for savings accounts.. Credit unions offer their members a wide variety of financial products and services. At a minimum, credit unions accept d
• Seeking Potential Income
  If the person you are helping has learned that he/she is going to lose a job, or has recently lost a job, the first step is to look into getting any earned benefits from his or her employer such as: severance pay money for paid time off (i.e. vacations) that was not taken compensation for unused sic
• Topics to Discuss
  As the old saying goes, the best way to eat an elephant is one bite at a time. You’re not going to discuss every financial topic and reach an agreement on all of your priorities in one discussion.. As the old saying goes, the best way to eat an elephant is one bite at a time. You’re not going to d
• Finding Money to Pay Down Your Debt
  After you have listed all your debts – credit cards, medical bills, department store bills, mortgages, car loans, etc. - you may be tempted to panic and say “But I just don’t have any money to even begin paying my debt off! Realize that you may have options you’re not aware of..
• Improve Your Finances with a Little Math
  Math. Whether you were good at math in school or not, you can make math work for you…and not necessarily the way you think when it comes to money.. Math. Whether you were good at math in school or not, you can make math work for you…and not necessarily the way you think when it comes to money. The
• Reviewing their Financial Priorities
  When people are in a financially stressful situation they often immediately focus on their financial shortfall. And while it’s important for them to know their financial needs, after identifying the initial root cause of their current situation, it is often more helpful to help them begin by clearly
• Identifying the Factors Creating the Current Financial Crunch
  Sometimes the reason for a financial crisis is obvious – a wage-earner in a family was laid-off, or a family member got sick and there was no health insurance to cover mounting medical bills, etc. But often even just one obvious issue (i.. Sometimes the reason for a financial crisis is obv
• Decisions to Consider Making
  As you become more comfortable talking about financial issues, sharing thoughts, opinions, plans and paperwork you should start working through some important decisions. Areas to talk about include: Goal-Setting.. As you become more comfortable talking about finan
• Starting Out in Your 20s
  When you’re just entering the workforce it’s a great time to develop some financial disciplines that will become financially-rewarding habits for your future such as: Establishing some short- medium- and long-term financial and life goals Creating, and sticking to, a realistic budget Keeping a tight
• Dealing with a Dependence on Credit when Life Changes
  While using a credit card can be more convenient than writing a check or taking time to stop at an ATM to get cash, using credit as a supplemental source of cash can become an expensive habit which can create an even tighter squeeze on an individual or family budget if life circumstances-or larger e
• Power of Compounding
  Everyone knows that “a penny saved is a penny earned. But through the magic known as “compounding, even a penny can become a substantial sum of cash.. Everyone knows that “a penny saved is a penny earned. But through the magic known as “compounding, even a penny can become a substantial sum of cash.
• Money Deposited in Bank Accounts
  Up to 100,000 of money you deposit in an FDIC-insured individual bank account, up to 200,000 for joint accounts and up to 250,000 for individual retirement accounts (IRAs) are guaranteed safe by the federal government. If you have more than that amount in a particular bank, it is not guaranteed t
• Your Savings and Investments in Turbulent Financial Times
  Tomorrowsmoney.org visitors are asking “what might recent events mean for my savings and investments? This article addresses concerns about some of the most common areas of concern for people who have saved and/or invested money, including: Money Deposited in Bank Accounts Money Deposited in Credit
• What do titles like CPA, PFA and others mean?
  There’s a veritable alphabet soup in the financial services industry. Here’s a list of common abbreviated financial credentials: CFA - chartered financial analyst CFP - certified financial planner CFS – certified fund specialist ChFC – chartered financial consultant CIC – chartered investment counse
• How do I become an investor?
  Congratulations! It takes personal discipline and planning to save money. The fact that you've already saved some money indicates that you're taking responsibility for your financial future.. Congratulations! It takes personal discipline and planning to save money. The fact that you've alrea
• Investing is just another word for saving.
  FALSE. Both saving and investing are about putting money aside rather than spending it, but with two different goals.. FALSE. Both saving and investing are about putting money aside rather than spending it, but with two different goals. The goal of saving is to be sure
• Long-term
  Long-term in the investment world is generally 8-10 years or longer, although different people have different definitions. It can refer to the maturity of a bond: long-term bonds usually offer higher interest rates and involve higher risk because they require investors to commit money for longer per
• Can I get help if I don't speak English well?
  If you don't speak English well or if you prefer to have services provided in another language, or if English is not your first language, there is help out there for you. Sometimes companies such as banks, savings and loans, credit unions, and mortgage companies have services in different languages,
• Differences between Saving and Investing
  Saving is the process of putting money aside now—rather than spending it—so you have it when you need it later. When you deposit money in savings accounts, checking accounts, and Certificates of Deposit (CDs) in a bank or credit union, your deposits are likely to be insured by the Federal Deposit In
• Benefits You May Be Entitled to as a Public Employee
  As a public employee you will most likely be able to take advantage of significant benefits. After accepting a job with a government agency or organization, you should receive a package of benefits that outlines your salary, your work requirements (i.. As a public employee you
• Searching for a Service or “Blue Collar” Job
  According to the U.S.. According to the U.S. Bureau of Labor Statistics nearly 15 percent of all Americans work in what are considered “blue collar” or service jobs. Who are “blue collar” workers?  They are the people who provide valuable service work for us everyday – they are electricians, plumbe
• I can't do anything different financially for the future because I need every penny I make now for my kids.
  While it’s true that most families feel financially stretched, there are ways to make simple changes in your everyday spending and budget to create savings. It can be very encouraging to realize that small changes can create significant savings.. While it’s true that most families feel financiall
• How Much Coverage Do I Need?
  As with other forms of insurance a key question you probably have is “How much life insurance coverage do I need?  The answer is…it depends. While life insurance professionals advise that a good rule of thumb is to purchase at least 5-8 times your current income in life insurance coverage, the answer
• Changing Your Thinking about Credit for Everyday Expenses
  If you are bridging financial gaps by using credit as a supplemental source of income it's important to remember that unlike income, credit is not simply an always-available source of free cash but rather a loan. Every time you use credit you are, in essence, taking on a loan and you will be require
• The Dangers of Accumulating a lot of Credit Card Debt
  Tania and Juan got married when they were 23. They always intended to be wise with their money but let their credit card spending get out of control quickly.. Tania and Juan got married when they were 23. They always intended to be wise with their money but let their credit card spen
• The Benefits of Using a Bank Instead of a Check-Cashing Store
  Besides paying less overall for services, you can get a variety of benefits and services from a bank that you can’t get when using a check-cashing store: Your money can earn interest. Unlike when using a check-cashing store for a one-time transaction (i..
• The Retirees
  Scenario: Roy and Helen are both 67, retired, and live in West Virginia in the same house they raised their kids. Their kids and 4 grandchildren just live down the road from them.. Scenario: Roy and Helen are both 67, retired, and live in West Virginia in the same house they raise
• 10 Things Every Public Worker Should Do
  Read your benefits package carefully and attend any new employee orientation meetings or review resources through your organization’s internal website. Make sure you know the deadline for selecting or signing-up for benefits and when the next open enrollment period is. Talk with someone in your HR d
• Considering Chapter 7 Bankruptcy
  Chapter 7 bankruptcy is the most common form of personal bankruptcy for people to file. It’s the most “popular” form because it’s fairly straightforward, inexpensive to file, requires little time, is finalized quickly and at the end, your consumer debt is erased.. Chapter 7 bankruptcy is t
• Bridge Housing Options Between Independent Living and Full Service Care
  The next stage in housing options that meet your needs as you age comes when you're ready for or require a setting that provides a bridge between fully independent living and full-service skilled care. There has been an enormous increase in the availability of this type of housing over the past seve
• Independent Living
  Independent living communities (also known as retirement or senior communities) offer seniors a secure environment in which to live independently without having to worry about home or yard maintenance. These communities offer a variety of housing types including condominiums, apartments, or townhome
• Retiree Health Benefits
  If you are fortunate enough to have health insurance coverage through a former employer as part of your retirement benefits package you are one of the lucky ones. According to a 2008 Kaiser Family Foundation report less than 33% of all companies with 200 or more workers offer retiree health benefits
• Keeping Your Job in Tough Economic Times
  If you are thinking about delaying retirement because you lost savings and investments that you were counting on to help with your post-work lifestyle, your focus should be on maintaining your current job. As an older worker you are likely earning more money than other, younger employees at your wor
• Avoiding Costly Surprises
  Before you begin selling stocks or other investments as part of your strategy to draw down on your retirement portfolio be sure you understand the tax implications. The last thing you want is to find out is that by selling off investments to access cash you’ve created a big tax bill..
• Starting Your Marriage Off on the Right Financial Foot
  Planning to get married is an exciting time. But it also involves making a lot of decisions – where to get married and when, who to choose for the wedding parties, which cake and invitations…the list of choices and things to discuss with your significant other can seem endless..
• Critical Habits Single Women Need to Develop for Financial Independence
  What most of us secretly want is someone to say “this is the big picture and here’s how to get there. While there is no “magic formula” (and steer clear of anyone who promises you that there is! there are some guiding principles that you can adopt to increase your financial confidence and security. 
• Life Insurance
  Does anyone depend on your ability to work and make money? What financial resources would they have if you died and suddenly weren't there to support them? Are you married? In the U.S.. Does anyone depend on your ability to work and make money? What financial resources would they have
• Single Women Managing Money
  For the first time in American history more women are single than married. Single women are earning more money than ever before, are making more financially-related decisions than ever before and yet most single women still do not feel adequate or empowered to successfully navigate their own financi
• What Happens if a Creditor Takes You to Court
  Until a collection agency sues you and wins they can’t legally take anything you own to pay off your debts. However, once the agency sues you and wins, they obtain a “judgment” against you they can take your “nonexempt” property to collect against your debt.. Until a collection agency
• What Creditors Can’t Ask or Do
  When you apply for credit, a creditor may not: Ask about or consider your sex, race, ethnicity, national origin or religion Ask about your marital status or your spouse, unless you are applying for a joint account or relying on your spouse's income, or you live in a community property state (Arizona,.
• Using Life Insurance as an Asset
  While the primary benefit of life insurance is to provide your dependents with income after your death, consumers with permanent life insurance policies are increasingly viewing, and using, life insurance as an asset. That means that they are using the money they have built up in the policy for othe
• Goal Setting
  Think of the last time you felt really proud of yourself. What was it that you achieved that you took pride in?  Was it an award that you won at work?  Losing a certain amount of weight?  Finishing coursework toward a degree?  Chances are that whatever it was, you thought about it, planned for it and wo
• Saving and Spending
  When two families come together spending money – and intentionally saving, or not spending, money - is often an issue. Two previously single parents usually have had no one else involved in their decision-making about spending and/or saving money.. When two families come together spending money – a
• Estate Planning
  One of the results of divorcing and then remarrying when you have children is that both you and your new spouse will need to make some important decisions about how your assets and possessions will be handled and managed after your death(s) You will need to decide upon and “name” beneficiaries (mean
• Talk About Your Financial Goals
  Just as you and your new spouse probably have goals for how you as husband and wife, and your children, will merge into a new family structure, it’s important talk about what type of financial goals you want to set for your blended family. Some common financial goals for couples are: Raise a family
• Bill-Paying Tips
  You have a lot to juggle and make time for – kids, work, maintaining a home, etc. Consider processes that can reduce the time it takes to pay your bills and make it easier to create savings automatically for your future.. You have a lot to juggle and make time for – kids, work, maintaining a home
• The Difficult Financial Reality Facing Single Mothers
  The reality can be difficult to acknowledge: single mothers have often more than double the workload and yet financially typically have far less than half the income and assets than their married or single father counterparts. Most single working mothers are faced with the sobering reality that they
• More about Debt Financing
  Although banks and financial institutions may advertise how much they enjoy lending to small businesses, do not expect to qualify for a loan without a solid business plan and some track record of success. Small business loans from banks usually have at least a 50,000 minimum because the banks canno
• What the New Healthcare Law May Mean for You
  With the passage of the healthcare reform law affecting the U.S. Puerto Rico and other U.S. territories, a lot of things about your health insurance may be changing over the next several months and years. What could it mean for you, your spouse and family? . With the passage of the h
• How Unemployment Benefits are Calculated and What Happens When They Run Out
  When you lose a job you may be eligible for temporary unemployment benefits which can help you bridge the uncertain – and often financially worrisome period – between jobs. If you qualify, unemployment benefits will provide you with a percentage of your take-home pay for a specified period of time,
• Refinancing Your Mortgage as an Option to Hold onto Your Home
  For many homeowners who obtained an adjustable rate mortgage over the past few years to buy a home, both time and the economy have not been on their side. Millions of homeowners holding adjustable-rate mortgages are trying to determine if they can refinance their current home loan to be able to affo
• Is That Balance Transfer Worth It?
  LIKE MANY PEOPLE THESE days, 69-year-old Ira Stoller uses cash-rebate credit-cards for all of his purchases, lowering his bills by as much as 5% But these savings are nothing compared with the profit the traveling salesman from Butler, N.. LIKE MANY PEOPLE THESE da
• To Buy or to Lease?
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• If a Servicemember Becomes Disabled
  It is a difficult reality, but servicemembers can become disabled during their military service. It can be a physically and emotionally difficult time for the servicemember and his or her family.. It is a difficult reality, but servicemembers can become disabled during their military service. It
• Living on Less: What to Do When Your Pay is Cut
  Every day workers of all types, across all industries, get the bad news from their boss that their pay is going to be cut. Whether it’s because your company is going through a tough financial stretch, or because the economy at large is making it impossible for your employer to make payroll, or becau
• Planning to Manage Wedding Day Costs
  According to a Conde Nast Bridal Group survey, the average cost of a wedding is approximately 27,800. Nearly one-third of all American couples pay for their own wedding and laying out that much money (or accumulating that much credit card debt) early on in the marriage can have a significant im
• Insurance Benefits
  It can be easy to think that it’s not financially possible for your family to afford insurance. But with some work and help from the staff in your family support center you may be able to find affordable forms of insurance to provide for and protect your family’s future.. hat it’s not financially
• To Rent or to Buy?
  THINGS BEING EQUAL it's almost always better to own your home rather than to rent. After all, you build equity and get to write off your mortgage interest.. THINGS BEING EQUAL it's almost always better to own your home rather than to rent. After all, you bu
• Asset Allocation
  Asset allocation is the foundation of most investment plans. It tells you how much of your money you want to have invested in different kinds of investments or assets (sometimes called “asset classes”stocks, bonds, cash [click through to definitions in step two] are the main ones—based on how much t
• Mutual Funds
  Mutual funds represent a pool of money from many investors whom choose to buy a type of investment, such as stocks or bonds or a mix of both. With mutual funds, you, as the investor do not manage the money yourself, rather your money is invested by a professional money manager..
• Permanent Life Insurance
  Permanent life insurance is known by many names such as whole life, universal life, cash-value insurance, and variable universal life insurance. It is considered “permanent” because unlike term life insurance, there is no time limit to the policy.. Permanent life insurance is known by many names su
• Reverse Mortgages
  If you are 62 or older and own your home you have access to a special type of financing that can help you turn your greatest asset – your home – into supplemental income, enabling you to meet your other financial obligations and reach important life goals. A reverse mortgage is a financial tool that
• Types of 529 Plans
  529 plans got their names from the section of the IRS tax code (section 529) which helped create this way of investing savings for college costs. There are two types of 529 plans: Prepaid Tuition Plans and Savings Plans.. 529 plans got their names from the section of the IRS tax code (section 529
• Moving Day
  The big day is almost here. Moving day.. The big day is almost here. Moving day. Before you get to enjoy the excitement of moving into your new home, you’ve got to make it through the tedium and trial of actually boxing up and moving all your possessions. Having your tools and materials rea
• Financial Pressures and Your Health
  Stress is an accumulation of mental and physical tension. Stress can: distract your mental focus drain your energy impair your immune system and increase susceptibility to illness or disease create real physical reactions such as heart palpitations, panic attacks, nausea, headaches and sleepiness ca
• What to Do When the Deployment is Extended
  Imagine learning that your spouse has 24 hours to report for duty and be deployed for combat. Now imagine that the day before the scheduled homecoming, you are notified that he/she won't be coming home for another 12-15 months.. Imagine learning that your spouse has 24 hours to report for duty and be de
• Comparing Mortgage Costs
  There are several costs associated with borrowing money to buy a home including the interest rate you’ll be charged to borrow the principal (loan amount) points, mortgage insurance closing costs and the down payment. Interest Rate One of the most important pieces of information you need from a lende
• Selling Your Home Part 1
  Every year millions of Americans sell their homes. Some of the most common reasons for selling a home are: Relocating for a job Needing or wanting more room for a growing family Moving after retirement Downsizing Moving to a more desirable or convenient neighborhood for work or school This month we’
• Parents Dealing with their Single Adult Child’s Deployment
  Most often deployment information and support is directed to the servicemember’s spouse. But what about the single servicemember?  What happens when he/she is deployed?  After being out of the family home and living on his or her own, suddenly he or she needs family members to help with the paperwork
• Dealing with Deployment
  Deployment is a stressful time for every member of the family. By taking time to talk together as a family, and separately as a couple, you can better manage both the emotional and logistical aspects of being apart from your servicemember.. Deployment is a stressful time for every member of