As parents, you want to make sure your children have the best education possible, yet the cost of schooling and university can be extremely high. The money that you spend on your children’s education can be one of your largest lifetime expenses, so saving early is key.
Starting to save early will enable you and your child to select an excellent school or university based on the programme and their academic ability, rather than your financial situation. (more…)
Here’s what you need to know about this popular investment option
If you are like many investors, researching, selecting, monitoring, and adjusting your investments and asset allocation within your retirement plan can be a time-consuming burden. One possible strategy to consider may be a target-date fund.2 A target-date fund takes much of the decision making out of which asset classes to own, at which percentage weights, given your estimated retirement date. As that “target” date approaches, the manager of a target-date fund automatically adjusts your allocations to reduce your market risk. Here are some basic facts about target date funds that you should know before you buy:
It is a popular option for retirement plans. Target-date funds are growing in popularity as investment options in qualified plans. In fact, as of December 31, 2016, 88% of target-date mutual fund assets were held through defined contribution plans and IRAs, according to the data from the Investment Company Institute.3 (more…)
Spending your retirement in comfort depends largely on what you and your spouse do today.
Retirement, like marriage, comes under enormous strain when money is constantly an issue and recognizing this sooner rather than later can make the difference between traveling and living out your years together in relative comfort or having to scrape by for years as you get older and less healthy. It’s a pretty stark contrast.
Here are five things to avoid with your retirement today:
1. Not saving early or often
It’s the little things that add up. While you may think there’s plenty of time between your current situation and retirement, saving now means you won’t have to catch up later, when you may face other issues or unplanned expenses. It’s also the single most effective habit you can develop: saving a little bit all the time.
2. Underestimating your needs and lifestyle (more…)
