Finance Globe Blog

U.S. financial and economic topics from several finance writers.

Why it is So Important to Start Saving for Retirement Before you Turn Thirty

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Many people, like myself, did not think saving early in my life was important. I figured I would be able to save later in life when my salary increased and would not worry about it. I never realized how wrong I was, and I quickly realized it is critical to start savings as early on as you can. While everyone may not be able to save in your early twenties, I would highly recommend to...
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Why You'll Regret Dipping Into Your Retirement Savings

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Your retirement fund is a place that you can invest money you earn today so you’ll have a nest egg to support yourself when you finally stop working for good. Retirement may be decades away for you and in the meantime, you may be tempted to pull money from your retirement fund for some of your other financial goals. People commonly dip into their retirement to cover a down payment on a first home, for...
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What is Social Security?

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Many people know what social security is, but there are people today who still aren’t sure exactly what social security does for people. There are also many people who don’t know the details of the program either. Below is a high-level summary of the program. Social security is a pay-as-you-go program, meaning today’s workforce pays social security taxes into the program and money flows back out as monthly income to beneficiaries. About 169 million Americans...
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Retirement Accounts: Roth IRA vs. Traditional IRA

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If you are planning to open a retirement account, one of the first things you need to figure out is if you want to open a traditional IRA or a Roth IRA. Both are great retirement offerings, but there are a few differences to research prior to opening one. There is also some overlap in that both defer taxes while the money is in the retirement account, and both have contribution limits to them. 2018...
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How To Start Investing When You Don't Have A Lot Of Money Saved

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Many people who have not started investing say their reason for not starting is because they do not have a lot of money saved. However there are several ways to start investing even if you have less than $1,000. Below are some ways to get you started and please post if you have any other recommendations on ways to start investing as well. Online brokerage account : Many brokerage accounts, such as Fidelity, Charles Schwab,...
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Why Your 401k Is Important

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Paying off your loans is very important for a young individual. But saving for retirement is also very important. 401ks are a very important part of your retirement. Retirement savings is critical for every person and are critical for young investors. Delaying your retirement options, especially investing in your 401K can be detrimental to your life savings. The earlier you start, the better off you are likely to be. Below are a few advantages to...
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Frank
I hope everyone that is employed had a 401K. Has anyone started one this year?
Friday, 23 February 2018 14:30
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5 Steps to Take If You Get a Raise This Year

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All your hard work has finally paid off and your boss has just informed you that you’ve received a raise effective on your next paycheck. Many people automatically start thinking about how much additional money they’ll be able to spend each month. It’s understandable that you want to use your extra money to improve your life, but makes sure you’re being smart about it. Don’t assume anything until you see your paycheck . A 5%...
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Frank
My wife and I were both lucky enough to get a raise this year. We decided to increase our debt payments up the same amount. This w... Read More
Friday, 23 February 2018 14:29
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Adopt These Money Habits If You Want to Retire Early

Adopt These Money Habits If You Want to Retire Early
While the average retirement age is 62, you don’t have to stay in the workforce that long. If you can stash away enough money, you may be able to retire early. Here are some money habits that will help you quit working sooner. Make saving a priority . Instead of saving after you pay your bills, put money in savings first. Max out your employer’s retirement plan, especially if there’s a matching program. Save outside...
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Frank
I was lucky enough to understand how important it is to start saving early. The impact of time is by far the largest factor in gro... Read More
Friday, 26 August 2016 12:53
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3 Ways to Get Retirement Right in your 20’s

3 Ways to Get Retirement Right in your 20’s
It can be difficult to think about retirement when you are in your 20’s. After all, you have quite a few years to go before you hang up your work boots for good. As tempted as you may be to put this off, now is the time to get serious about saving. If you make sound decisions in your 20’s, you will find yourself in better position over the next three to four decades. Here...
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Frank
3 additional recommendations 1) Focus on low-cost investments. This would include ETFs, inexpensive mutual funds, etc. Over time,... Read More
Thursday, 17 December 2015 18:48
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What are your Retirement Goals? You Should Know the Answer

Most people say they want to retire by a particular age, such as 62, and automatically assume that this is good enough. However, many realize after some time that they are not on track to do so. One of the best ways to protect yourself, ensuring that you retire at your target age, is to set goals. No two people are in the exact same position. For this reason, no two people are going to share...
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