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Graphic image showing balance between stocks and bonds.
Conventional wisdom used to be that as people got older, they moved assets out of the stock market into more conservative investments like bonds. But the most recent data from the Federal Reserve shows that today’s retirees aren’t necessarily following that guidance. The Fed’s 2016 Survey of Consumer Finances revealed that many U.S. households reduced their equity investments from 2007 to 2016...
Sign with the words "buying" and "leasing."
Are you in the market for a new car and wondering whether you should buy or lease it? Some people have strong opinions on which option is a better deal, but there are definitely pros and cons to both buying and leasing. One of the most significant advantages to buying a car is that once you pay it off, you still have something of value: either a car you can drive without making payments or one...
Delivery person with boxes.
Amazon is the third-largest retailer in the world (just behind Wal-Mart and China’s Alibaba). It’s not hard to see why when you explore the dizzying range of items that Amazon sells. From clothing to household goods to electronics, there’s almost nothing you can’t order from Amazon. But doesn’t online shopping mean wasting a lot of money on shipping charges? Not necessarily, particularly if you’...
Cutting the cable cord.
You’ve probably considered cancelling your cable television service at one point or another (most likely when you open your monthly bill and see the cost of your package has gone up once again). That’s why many people decide to “cut the cable cord,” opting instead for lower-priced streaming services like Netflix and Hulu. Marilyn Anderson, author of How to Live Like a Millionaire When You’re a...
Groceries on a kitchen counter.
In recent years, you’ve probably noticed a grocery delivery person pull up to a neighbor’s house and haul bags full of food right up to the front door. Online grocery delivery services such as Instacart and Amazon Fresh are growing in popularity. In fact, FMI, a food industry organization, recently published a report entitled “The Digitally Engaged Food Shopper” (fmi.org), and they predict online...
View from an airport lounge of an airplane taking off at night with city lights in the background.
Retirement and travel often go hand in hand. But the cost of trotting the globe can really add up. That’s why many avid travelers enroll in frequent flyer programs to help offset the cost of airfare. With so many different programs out there, however, it can be hard to determine which ones are worth your time, money, and loyalty. Fortunately, there are travel industry experts who make it their...
Cosigning a loan.
Should you ever cosign on a loan for a family member or friend? The short answer, of course, is no. But life isn’t always black and white. “It’s never a good idea to cosign for a loan or credit card,” says professional trader and investor Vic Patel, founder of Forex Training Group ( forextraininggroup.com ). “With that said, if you have excellent credit and have demonstrated to people around you...
Credit score image
Once you hit retirement, your house is probably paid off and you likely have enough savings that you don’t need to borrow money. So, your credit score no longer matters, right? Wrong. But that is what a lot of older adults think. In fact, a 2016 TransUnion survey showed that nearly half of Baby Boomers believe their credit score matters less after age 70. “Baby Boomers need to prepare their...
Group of tourists being led by a tour guide.
At the top of most retirees’ wish lists is to travel. But the cost of plane tickets, hotel rooms, restaurant meals, and sightseeing really adds up fast. Fortunately, if you’re willing to think outside the box a little, you’ll find many ways to travel for very cheap—possibly even for free! Here are four cool ways to see the world for next to nothing. 1. Work on a cruise ship. Do you have a special...