Millionaire households in the U.S. are rising again, largely because the mass affluent stayed the course with their stocks during the downturn and are reaping the benefits of the market’s recovery. But frugality also played a big role.
Planning
Solutions to 9 Puzzling Financial Frustrations
What Will Replace the 401(k)?
The venerable 401(k) has been under fire since the recession. Here’s what could replace it.
Students, Your Loan Interest Rate Is About to Double
Prepare yourself: on July 1, as many as 8 million college students will see their interest rates on federally subsidized student loans double, from 3.4% to 6.8%. According to the U.S. Public Interest Research Group, that increase …
Consumers Are Upset About High Gas Prices—But Not Enough to Stop Shopping
Plenty of drivers are worked up about the cost of gasoline. In a recent survey, 85% of Americans said that the government should take “immediate actions” to rein in fuel prices. But while there’s no denying people are agitated …
Reverse Mortgages More Popular With Younger Homeowners
Once widely seen as money of last resort, reverse mortgages are fast entering the mainstream of retirement income. Boomers are turning to reverse mortgages earlier to pay off debt or improve their lifestyle, according to a report …
Make Time to Prioritize
Do you truly understand how you spend your time? Most people assume they dedicate more hours to strategic work than they actually do. Look back on the past month in your calendar. Add up the time you spent on your strategic priorities. Was it enough? It’s likely less than you thought. That’s because most people tend to do the most …
The Goldman Rule: How to Vet Your Financial Adviser
A blazing resignation at Goldman Sachs shows us once again that financial advisers too often put their own interests first. Here’s how to make sure you get good advice.
Sandwich Generation: 6 Money Messages for Your Parents and Kids
Boomers are making a lot of the same mistakes their parents made when it comes to discussing money with family. That is, they aren’t doing it. But it’s time to have the The Talk, with aging parents and grown kids. Here’s how.
Bonds Are on a Roll — Is it Time to Give Up on Stocks?
A well-known academic argues against stocks, even for the long run. But it feels a bit like arguing that Warren Buffett doesn’t know what he’s doing. Whose side would you take?
Move Out of Your Parents’ House and Save the Economy
Whatever happened to wanderlust? Over the years, Americans in their 20s have grown less and less likely to move away from their home states. During the recession era, young adults have becoming increasingly unlikely to leave even …
3 Simple Steps to the Perfect IRA
Choosing the most efficient tax-favored retirement savings strategy can be challenging. Here’s how to get it right in 3 simple steps.