Latest Retirement planning News

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....

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: Start thinking bankruptcy now, not later

May. 4, 2020 6:56 AM EDT

If you’ve lost your job or struggle to pay your debt, you may need to file for bankruptcy. If that’s the case, you should ignore some common financial advice and start thinking defensively. The coronavirus pandemic that upended the economy is also expected to send unprecedented numbers of people and...

Hospital parent agrees to 401(k) payments for ex-workers

Apr. 24, 2020 7:25 PM EDT

FAIRMONT, W.Va. (AP) — The parent company of a West Virginia hospital that closed has agreed to pay $126,648 in matching 401(k) contributions for hospital workers, the state attorney general's office said Friday. California-based Alecto Healthcare Services agreed to the payment for employees of Fairmont...

FILE - This Jan. 22, 2020, file photo shows the likeness of Benjamin Franklin on $100 bills in Dallas. Many Americans are struggling financially due to the coronavirus. A recent federal relief package makes it easier for them to tap into their retirement savings by loosening rules for withdrawals and loans. But should they? (AP Photo/LM Otero, File)

Hit by the virus and weighing a raid on your 401(k)? Beware

Apr. 16, 2020 1:17 AM EDT

Many Americans are struggling financially due to the coronavirus. A recent federal relief package makes it easier for people financially harmed by the coronavirus outbreak to tap into their retirement savings for cash by loosening rules for withdrawals and loans. But should they use them? Experts say it's an...

FILE - In this June 15, 2018, file photo, cash is fanned out from a wallet in North Andover, Mass. With lives and finances strained by the novel coronavirus pandemic, now is the time to focus on your money management skills. (AP Photo/Elise Amendola, File)

Millennial Money: A Q&A to build your financial resilience

Apr. 14, 2020 7:12 AM EDT

A few months ago you may not have thought much about strategies for managing credit balances or how much of an emergency fund you really need. But with finances strained by the coronavirus pandemic, making smart money decisions is crucial. To better handle current conditions, ask yourself these three questions....

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: How to raid your retirement funds in a crisis

Apr. 13, 2020 6:54 AM EDT

In an ideal world, your retirement accounts would be left alone for retirement. You’ve probably noticed that we’re not living in an ideal world. Early withdrawals can have serious repercussions, including big tax bills today and potential shortfalls in the future. Please look for other solutions...