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Posts by Ben Geier:
There’s good news for folks who want to park their money in cash amid market volatility: The best savings rates are now around of 2.25%. That’s quadruple what they were just a year ago. And those rates may keep ticking upward: after a CPI report indicating inflation rose 8.3% in August compared to a year earlier, the Fed raised the federal funds rate, the central bank’s short-term rate, a 75 basis points, up from 2.25% to 2.5%. Bank rates lag when it comes to the dynamics of the central bank, but those 2.25% savings rates should trend higher over time as a result. That’s at least some tonic for those whose portfolios are in the gutter and whose passive cash holdings are losing precious value in light of inflation. If your savings account is delivering chump rates by comparison to those 2% rates, it might be high time to search for a more high-yield savings account to grow your hard-earned cash. For more help on which savings account might be suit your overall financial plan, think… Read more
In times of relative economic turmoil, it may be natural to expect a lot of change to retirement savings patterns — perhaps to see people save less as they deal with more pressing needs. Others, restless at seeing losses, may be eager to change their asset allocation amid other emotional responses to the downturn. But the best move may be a lot simpler: doing nothing. And so far, American retirement savers are luckily reacting to the current market volatility and inflationary atmosphere by largely staying the course, according to a recent study from the Investment Company Institute. This is good news for the retirement industry and for savers, who will likely be happy they didn’t react out of fear decades from now when they are withdrawing their money. For help managing your own retirement savings plan, consider working with a financial advisor. Read more
It’s always hard to make your retirement savings last as long as you need it to — but it becomes even harder when you’re retiring during a market downturn, as Americans retiring right now are experiencing. A market downturn means that any money you still have in the market is shrinking rather than growing, potentially losing you money at the exact point you’re ready to use it. T. Rowe Price, though, has a strategy for maximizing your savings if you are unlucky enough to retire during a market downturn. Whether you’re ready to retire now or planning for the future, consider working with a financial advisor to make sure you do it right. Read more
Generally, when you save for retirement, your goal should be not to touch the money until you are actually retired. Sometimes, though, life gets in the way and you need to dip into your retirement… Read more
There likely won’t be another stimulus check from the federal government coming anytime soon. But a number of states have approved a fourth stimulus check for their residents — welcome news amid… Read more
If you have a family — especially if you have children — life insurance can be a very important part of building a financial plan. A life insurance policy costs a bit now, but in exchange you get… Read more
When you break it down, investing in the stock market is pretty simple: you buy a small piece of a company you think will increase in value, and when the value has grown to a level you deem… Read more
Fidelity and Interactive Brokers are both online brokerage services. Fidelity, based in Boston, is one of the biggest names in the financial services industry. The company has many divisions focused… Read more
In a world where the stock market is unpredictable and interest rates are rising, many investors are looking for someplace to put their money that is as close to risk-free as possible — even if it… Read more
Saving for retirement is important for everyone, including those with high incomes — just because you make a lot now doesn’t mean you don’t need to plan for a future when you are no longer working.… Read more
Saving for retirement is hard. It takes discipline, intelligence and likely a little bit of luck. You have to put money into your retirement fund consistently, make smart investment choices and hope… Read more
Cryptocurrency isn’t the easiest thing to understand — there are a lot of moving parts, and it involves math and computing concepts that most people just don’t get. Well, if you’re struggling, there… Read more
With Apple set to release a new generation of sleek products — including the iPhone 14, new smartwatches and updated AirPods — investors are excited about the pop the AAPL stock might see amid the… Read more
When someone makes an investment, they’re obviously hoping that it ends up making them money. Otherwise, there would be no point to the investment. If you do increase your net worth through… Read more
If you’ve paid any attention at all to the news lately, you probably have some idea about the fact that the American economy is either already in a recession or possibly sliding towards one,… Read more
While following trends isn’t always a good idea when it comes to investing, following trends is a way to maximize your returns without creating too much risk. One investing strategy that is hyper… Read more
Social Security is one of the cornerstone programs of the American Social Safety net — even if it doesn’t always completely cover a person’s retirement expenses, it gives everyone something to build… Read more
Religion is very important to a lot of people, though attendance at religions institutions has certainly fallen in recent decades. Fully 49% of Americans said that religion was a “very important”… Read more
After many months of rumors and significant pressure from his left flank in the Democratic Party, President Joe Biden recently announced a plan to relieve the student debt pressure that many younger… Read more
For most people, investing is a long-term game. You aren’t looking for a quick score to get an influx of cash you can spend on a new Sea-Doo; rather, you’re looking to slowly but surely build wealth… Read more
Some investors will be getting a bit of money back soon, the result of a big settlement between financial firm Vanguard and the Massachusetts Secretary of State. The $6.25 million settlement has to… Read more
Retail investors everywhere want to know: how do we beat the recession? While experts may be somewhat divided over whether or not the U.S. economy is currently in a recession (some of which depends… Read more
To quote Justin Timberlake’s character in “The Social Network,” David Fincher’s modern masterpiece about the founding of Facebook: “A million dollars isn’t cool. You know what’s cool? A billion… Read more
Saving for retirement is something that most everyone has to do. Unless you have generational wealth that will take care of you from cradle to grave, you probably have to spend some of your working… Read more
While many Americans idealize retirement as sitting on the beach and traveling with loved ones, the crushing reality is that many people cannot afford that life in retirement. A recent survey from… Read more
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