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Posts by Ben Geier:
Financial planning advice typically focuses on long-term goals like saving for your children’s education, building a retirement fund and estate planning. But depending on your financial situation, you may need to set short-term goals to reach those financial plan milestones. Here are four common short-term goals that you should keep in mind when putting your financial plan together in 2022. A financial advisor could help you put a financial plan together for your short-term and long-term financial needs and goals. Read more
Setting up an investment portfolio requires clarity about what your goals are, what your risk tolerance is and what kind of investments you want. You also need to know what your time horizon is. Are you looking to make money quickly or are you in it for the long haul? This will impact whether your portfolio is focused on short-term investments, long-term investments or some mix of the two. Knowing the difference between short- and long-term investments and the pros and cons of each will help you make sure your investment portfolio is suited for exactly what you want to achieve. For help setting up a portfolio and finding the right mix of investments, consider finding a financial advisor using SmartAsset’s free financial advisor matching service. Read more
Annuities can be a useful part of a retirement plan. They provide guaranteed retirement income, effectively replicating the monthly checks that workers with a defined benefit plan like a traditional pension plan receive. Fewer workers than ever have defined benefit plans, meaning it’s up to each individual worker to create his or her own retirement plan. An annuity is especially useful, because even if your 401(k) or other workplace retirement plan runs dry, you still have income coming in for the life of the annuity. With interest rates rising and the markets especially volatile these days, now is an especially opportune time to buy an annuity — and the annuity market’s first quarter growth shows that Americans are seizing the moment. If you want help figuring out how an annuity could work into your retirement plan, consider working with a financial advisor. Don’t miss out on news that could impact your finances. Get news and tips to make smarter financial decisions with SmartAsset’s… Read more
For years, target-date funds have been one of the go-to options for retirement investors. The appeal is clear; when you invest in a target date fund, you put your money in the hands of a manager who… Read more
High-net-worth investors are those with at least $1 million in investable assets. While hard-and-fast investing rules like keeping tabs on asset allocation, holding a diversified set of assets and… Read more
As you get older, healthcare becomes increasingly important — between preventative care and trips to the doctor to fix the aches and pains that come with age, having a good health insurance plan is… Read more
The COVID-19 pandemic changed the world in more ways that most people can count, from the way kids go to school to how restaurants operate. One change that may not have been easy to predict — the… Read more
There are various strategies one can take when choosing which stocks to use in building an investment portfolio. One popular strategy is to pick firms that pay shareholders dividends. The logic is… Read more
Millions of older Americans live solely on a Social Security check. And while other Americans rely mostly on workplace retirement plans like a 401(k) or an individual retirement account (IRA), these… Read more
Most Americans have at least heard of a 401(k) plan, but there is another tax-advantaged workplace retirement plan out there — the 403(b). A 403(b) operates similarly to a 401(k), but is generally… Read more
There are many financial products you can choose to invest in as a part of your retirement portfolio. One of the most complex is an annuity, which is a product that requires a premium payment up… Read more
The SECURE Act 2.0 — a follow up to the 2019 bill that made myriad changes to the way Americans save for retirement — passed in the House this week, meaning that if it gets approved by the Senate it… Read more
The great power Christopher Wallace – aka the Notorious B.I.G. – once opined, “mo’ money, mo’ problems.” While that may not be entirely true, it is a fact that having a high net worth does come with… Read more
A 2022 study from the Bank of America says that 30% of current women homeowners bought their home while single. And almost two-thirds of women surveyed said they would buy a home before getting… Read more
With tax season in full swing and the April 18 filing deadline rapidly approaching, many Americans are once again wondering whether they should take a standard deduction or consider itemizing their… Read more
Estate planning isn’t fun, but it is necessary if you want to make sure that your family is taken care of and your property is disbursed the way you want it to after you’ve died. Furthermore, estate… Read more
It’s no secret that there’s a lot of scary things going on in the world right now — the continuing COVID-19 pandemic and the war in Ukraine chief among them. These world events also have impacts on… Read more
When building a portfolio, it is important to look for balance in terms of the types of assets you purchase. While stocks are often viewed as more exciting, that doesn’t mean bonds can’t play an… Read more
Pretty much everything in life costs money, including financial services. One mutual fund firm — Vanguard, already famous for its relatively low fees — is changing its expense ratios with the aim of… Read more
With average housing costs adding up to almost 35% of all household expenditures in 2020, many renters nationwide are looking for roommates so they can afford short-term financial obligations, save… Read more
The Great Resignation is having a huge impact on many parts of American life. One impact you might not think of immediately is the impact it has on the retirement savings space — fewer people working… Read more
A college degree is an important professional milestone that can boost your finances. According to data from Indeed.com, the average yearly earnings for someone with only a high school diploma is $37… Read more
Saving for retirement isn’t easy. How much cash will you need in your coffers once you exit the workforce? How much from each paycheck should you put toward retirement, and how aggressive should your… Read more
The IRS says that the number of million-dollar taxpayers has gone up in five years. In 2014, there were 410,110 taxpayers with an adjusted gross income (AGI) of $1 million or more, filing 0.28% of… Read more
Social media has brought the world closer together in many ways, some of them wonderful. But there are many dark sides to out modern connectivity, and one that has reared its ugly head increasingly… Read more
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