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6 retirement tips for generation x | CPA Practice Advisor

Picture for decorative purposes of someone holding up two eggs with IRA and ROTH written on each one.

Generation X, those between the ages of 39 and 54, were hit by the financial crisis in 2008 at just the wrong time and have the highest average debt of any generation. Statistics show that 34% have no retirement savings, 26% have more than $10,000 in credit card debt, and the average retirement savings is only $69,000. Recent research is ... Read More »

6 key financial strategies for life after military service | CNMC

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One of the top things those transitioning from active duty to civilian life should be aware of is the financial changes. A change in the way of life occurs, not just a job change. Taking control of your finances is one of the top tips. Your employer doesn’t tell you how much to spend on housing, and they don’t do ... Read More »

Rating the top 529 college savings plan | Morning Star

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529 college savings plans are evaluated based on five factors: process, people, parent, price, and performance. The plans are then ranked, and assigned a rating of gold, silver, or bronze. Only four plans reached the gold standard, having low costs, several investment options, and smooth transitions. These include Virginia’s Invest529, Illinois’ Bright Start College Savings, Utah’s my529, and California’s ScholarShare College ... Read More »

Changes to TSP coming in December | AF.mil

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In the beginning of December, participants of the Thrift Savings Plans (TSP), will need to expect a few changes to the login system and TSP website for security purposes. Due to today’s hackers, technology and cybersecurity, it is one more tactic to prevent fraud. In order to login, two-step authentication will need to be set up, and contact information will ... Read More »

More married millennials keep finances separate | Business Insider

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More Americans have elected to tie the knot without tying up their finances. While only 27% of baby boomers had separate finances, 37% of millennials and 36% of gen Xers did not combine their bank accounts and bills. One millennial couple says keeping their finances separate is actually less stressful on their marriage, otherwise it would cause arguments. Over 62% ... Read More »

Here’s what Americans with good credit understand about debt | Nasdaq

A desk with financial management papers.

79% of Americans whose credit score is 600 or higher said they purposefully take on a debt in order to build credit. Financial expert all have varying opinions on debt, with some saying everyone should avoid all debt except for a mortgage. However, in order to build credit, one has to take on a debt that they make timely payments ... Read More »

How to start paying back your student loans | CNBC

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The coming of December is often met with despair by spring college graduates. Instead of thinking about the holidays, recent grads are focused on their first student loan payment. Most loans offer a six-month grace period, meaning those who graduated in May are about to begin paying their hefty education cost back. Seven in ten college graduates had to take ... Read More »

The number of 401k millionaires hits a record high | CNBC

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A new Fidelity 401k plan record has been set in the third quarter of 2019. With 200,000 accounts reaching one million, the count is up 7% from last year. While the national average account balance fell by 1%, almost one third of account holders increased their savings rate. The average savings rate is 13.4%, including employer contribution. The accounts in ... Read More »

Should I lease or buy a vehicle before January? | Kelly Blue Book

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As 2019 comes to an end, the sales and special offers available can be overwhelming, along with all the financing options like buying or leasing.  It really comes down to timing, taxes, depreciation value, and ultimately what kind of car you are interested in and what you are using it for.  Purchasing requires more out of pocket cash but you ... Read More »

Avoiding the Debt Trap for your Child’s Higher Education | Kiplinger

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David Redding has noticed one of the major points of frustration with his clients when creating a financial plan is saving for their children’s college education. With college getting more and more expensive, people are struggling to find a way to save for retirement and education. The average tuition of a private institution for one year is $41,426, and the ... Read More »