According to a recent survey by Charles Schwab, it takes an average of $1.4 million to consider oneself financially comfortable in America. And to be considered wealthy? That takes $2.4 million. The survey was conducted this year, of Americans between age 21 and 75. And the results differ slightly (higher) than the same survey conducted… Read More
Women and Finance (as reported by Preeti Varathan on www.qz.com)
Do you feel like the financial industry caters more to men than to women? Over 70% of respondents in a recent survey of women thought so. And that could be part of the reason why so many of them did not feel like they had adequately prepared for retirement. In general, women in the US… Read More
What is a Money Market Account? (as reported by Amanda Dixon on www.bankrate.com)
Money market accounts are a type of savings accounts that allows you to write checks and use a debit card on a limited basis. They are not like checking accounts, which allow for an unlimited number of transactions, but they do offer interest (up to 2.01% per year). Amanda Dixon, writing for Bankrate.com, has put… Read More
Retirement Spending (as reported by J.D. Roth on www.getrichslowly.org)
Knowing how much to save for retirement is difficult. Knowing how much to spend during retirement might be even harder. There are two key reasons for that: You don’t know how long you are going to live You need to decide what the money is for If you knew exactly how long you would live,… Read More
How Much Should You Be Saving for Retirement? (as reported by Matt Becker on www.thesimpledollar.com)
Do you know how much you should be saving each month to finance your retirement? If you answered no, you are in the same position as the majority of Americans. Lucky for us, Matt Becker recently shared a downloadable spreadsheet on his website, The Simple Dollar. This spreadsheet allows you to input your current age,… Read More
Student Loan Repayment Plans (as reported by Dan Kopf on www.qz.com)
It is a common piece of advice to students who graduate with student loans – that they should opt for a repayment plan that prioritizes paying back as much as they can as soon as they can. Unfortunately, this advice is often wrong. No two people are alike – nor are their careers and/or debts…. Read More
STUDENTS HONORED AT 2018 W!SE SCHOLARS RECEPTION HOSTED BY DEUTSCHE BANK
NEW YORK, N.Y. – On Friday, June 8, Working in Support of Education (W!se) held its annual Scholars Reception to honor high school students who earned a score of 95% or higher on W!se’s 2017-18 national standardized Financial Literacy Certification Test. The Test is administered each year at high schools from 48 states that participate… Read More
“Where’s Rebecca?”: Foster Care App Takes Top Prize at QLI Awards
NEW YORK, N.Y. – On Monday, June 4th, Working in Support of Education (W!se) held the 23rd annual Quality of Life INNOVATIONS (QLI) Awards Ceremony, generously hosted by CITI. 180 guests attended the event, which was capped off with the announcement of the 2018 prize winners. More than 749 high school students in all 5… Read More
Financial Implications of Marriage (as reported by Preeti Varathan on www.qz.com)
There are a lot of reasons people get married. And while we might not want to admit it, “financial reasons” often make that list. There are a number of ways in which getting married will impact your personal finances. First and foremost, they will change your taxes. While most common wisdom assumes that a married… Read More
Personal Finance Rules (as reported by J. D. Roth on www.getrichslowly.org)
Rules of thumb are meant to stand as simple shortcuts for far larger, and more complex, processes and practices. The world of personal finance is rife with them. There are so many that, often, they conflict. When that happens, where do we turn? Who do we believe? Enter J. D. Roth, writing from his blog… Read More