Latest Retirement planning News

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. When stock markets are rattled by news events, it’s unsettling for any investor — but especially so for those who are retired (or nearly there). The first thing anyone with an investment portfolio should do is make sure it’s properly balanced, taking both income needs and risk tolerance into account. (NerdWallet via AP, File)

Liz Weston: When parents are the emergency fund

Jun. 15, 2020 3:32 PM EDT

Financial fallout from the pandemic is hitting millennials hard — and many will soon turn to their parents for help, if they haven’t already. Before parents ride to the rescue, financial planners urge them to map out a strategy that doesn’t just plug a short-term need but also makes sense in...

FILE - This May 31, 2020, file photo provided by the Hennepin County Sheriff shows former Minneapolis police officer Derek Chauvin, who was arrested Friday, May 29, in the May 25 death of George Floyd.  Chauvin had more than a dozen misconduct complaints against him before he put his knee on George Floyd's neck. (Hennepin County Sheriff via AP, File)

Officer charged in Floyd's death eligible for pension money

Jun. 13, 2020 2:28 PM EDT

MINNEAPOLIS (AP) — Former Minneapolis police officer Derek Chauvin is eligible to receive pension benefits during his retirement years even if he's convicted of killing George Floyd, according to the Minnesota agency that represents retired public workers. Chauvin is charged with second-degree murder,...

This undated photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com.  (NerdWallet via AP)

Liz Weston: Is your target date investment letting you down?

Jun. 8, 2020 7:14 AM EDT

Target date investments are supposed to be an easier way to invest, and they’re a popular choice in 401(k) plans. But the recent market downturn showed that some target date strategies suffered much bigger losses than others, especially for investors nearing retirement. Target date investments did...

This undated photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com.  (NerdWallet via AP)

Liz Weston: Find free, solid money advice in uncertain times

May. 25, 2020 9:54 AM EDT

If you have money questions — and who among us doesn’t right now? — there are plenty of people willing to offer advice: friends, relatives and random strangers on the internet. Finding someone who knows what they’re talking about, and who isn’t trying to take advantage of you,...

FILE - In this April 1, 2020, file photo, a paper envelope written with the words

How to pay rent when you can’t afford it

May. 20, 2020 1:15 PM EDT

After Megan Pearson’s job as a restaurant server was put on hold because of COVID-19 -related stay-at-home orders, the single mom had to figure out how to come up with the rent for her apartment in Brooklyn, New York. “I posted my frustration on Facebook with trying to get through to unemployment...

FILE - In this Nov. 25, 2019, file photo a sign for TD Ameritrade is shown on an office window for the brokerage in New York. The lure of snapping up stocks at bargain prices has been too strong to pass up for many people, even as uncertainty over the coronavirus pandemic clouds the market and global economic outlook. Stuck at home, but armed with online trading apps, individual investors helped drive the historic comeback for stocks since late March 2020.  (AP Photo/Mark Lennihan, File)

Buying the plunge: Individual investors remain optimistic

May. 14, 2020 1:07 PM EDT

LOS ANGELES (AP) — The lure of snapping up stocks at bargain prices has been too strong to pass up for many people, even as uncertainty over the coronavirus pandemic clouds the market and global economic outlook. Stuck at home, but armed with online trading apps, individual investors helped drive the...

FILE - In this Jan. 15, 2015, file photo, people walk past a branch office of Citibank, in New York. The very thing that makes personal loans appealing — that they can be used to pay for almost anything — is also what makes them difficult to navigate. It’s always best to consider all your options, but financial planners say some uses for a loan — like debt consolidation — are better than others.  (AP Photo/Mark Lennihan, File)

What is a good reason for a personal loan?

May. 7, 2020 8:01 AM EDT

Unsecured personal loans can pay for almost anything. Their flexibility makes them easy to turn to when you want to consolidate your debts or put in that kitchen island. But first assessing all your financing options can save you money. As the economy shifts, so will the way a personal loan fits into your plans....

FILE - In this April 29, 2020 photo, a couple walks by a row of closed motels,  in Old Orchard Beach, Maine. The coronavirus pandemic has affected the financial lives of most Americans as businesses shutter or cut salaries to adjust to the new economic uncertainty. But roughly a quarter of Americans have not yet been financially affected. Those fortunate enough to have financial security can use this time at home to improve their fiscal health so they are better prepared when the next economic crisis hits. (AP Photo/Robert F. Bukaty, File)

Millennial Money: Still employed? Focus on savings and debt

May. 5, 2020 7:23 AM EDT

The coronavirus pandemic has thrown tens of millions of people into financial turmoil. But not everyone is feeling the pinch. Not yet, at least. Roughly a quarter of Americans (24%) said the coronavirus crisis has not impacted their financial situation, according to a survey conducted April 10-12 by J.D. Power....