Category Archives: Millennials

Getting on Track to Hit a Million

No, we’re not taking about the lottery here. We’re talking about retirement savings. Many millennials believe they won’t hit a million dollars in savings by retirement. In fact, a study done by Wells Fargo showed that 64% of millennials surveyed think they will not hit that million dollar mark. About 41% of millennials have not…
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Americans are Underutilizing IRAs

Raise your hands if you took a course in high school or college about IRAs and saving for retirement. We thought so. There is a keen need in the United States for more education on the importance of saving for retirement and on retirement plans, especially among young workers; 35 percent of millennials say they…
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5 Easy Tips for Self-Directed Beginners

  You may have read our previous article about Self-Directed IRAs, and now you’re interested in starting one of your own.  Self-directing can be easy, but in the beginning it can seem like there’s a lot of information being thrown at you at once. I have compiled a list of 5 tips that can help…
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Retirement on a Budget

Many millennials feel the pressure of student loans bearing down upon them and it can be terrifying trying to figure out how to get rid of all of that debt. On top of worrying about your current financials, you have everyone under the sun telling you to plan for your retirement. You’re probably thinking, “With…
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66 million have NOTHING in Emergency Savings

Having a 6 month emergency savings nest is harder for some generations. According to a new survey from www.BankRate.com, 66 million Americans do not have emergency savings.  1/3 of Americans ages 36-51 years old (Gen X) have savings. Only 27% of other Americans of all ages have anything saved up. It is very important to have an emergency…
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Millennial Employees: Have you Used a Retirement Calculator?

Check on Your Road Map to Your Retirement Goals. Millennials have a long work life ahead of them, which comes with a long retirement horizon. Those who start saving early and often will do well when it comes to building retirement wealth. As part of your retirement planning, have you tried a retirement calculator? You…
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Whoa … Wait, Where are Younger Workers Investing for Retirement?

A new Harris poll* revealed that a large majority of millennials—almost 80 percent—don’t have stock market investments. Many (more than 40 percent) cited perceived lack of funds, about 24 percent said they don’t know how to make these investments, and 13 percent said student debt was to blame. There were some gender differences around investing in…
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Millennials: On Your Mark, Get Set, Start Saving for Retirement!

The millennial generation (Gen Y) is the group comprising people ages 18 to early 30s (more or less), right behind Gen X. According to a report issued by the White House’s Council of Economic Advisors, they are a lot of things: the largest generation, comprising one-third of the US population now; the most diverse and…
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Can you Pass the Financial Literacy Test about Your Own Retirement Savings?

You can’t get there if you don’t know where you’re going. That adage can easily apply to your retirement plan and your savings /investment strategy. First things first: how’s your financial literacy when it comes to saving for retirement? Writer Selena Maranjian of Motley Fool offers a simple financial literacy quiz to take and ponder.…
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How Much Do You Know about Social Security?

Mary Beth Franklin, contributing editor for Investment News, recently wrote an article that highlighted the fact that many Americans would flunk a Social Security quiz. The premise of her piece is that lack of full understanding about Social Security benefits could have a serious (negative) impact on your future retirement income.

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