By MICHAEL T TOWNSEND
The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
Saving for retirement is an important and necessary part of life. Below are four actionable tips to increase your retirement dollars.
1. Don’t cash out retirement plans when changing employment
30 is a divisive number. To the young, it’s the time when you’re thrust into full blown adulthood, whether you’re ready or not. To the young at heart, 30 may be considered the early years before your true confidence shines, in your career, in your relationships, or even in yourself.
There are many who would suggest that, in a digitally-wired world where information travels at light speed to all corners, the investment playing field has been leveled between individual investors and institutions. In reality, however, the incessant noise and information overload can do more to fuel irrational behavior of investors than it can to provide any sort of advantage.
On September 7, 2017, Equifax Inc. announced a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Unfortunately, it’s likely that you’re one of the 143 million affected. The sheer size of this breach means that just about every consumer with a credit history has been affected.
Here’s what to do now:
Goals are one of the principal starting points of any financial plan. It may seem like the idea of goal setting is reserved for life’s biggest adventures, but having a different spectrum of goals, whether it be short term or long term, is crucial for keeping your finances and savings on track. But how do you ensure your financial goals become reality in your lifetime?
Understanding your risk tolerance is one of the most important elements of investing; knowing how your risk tolerance effects your investment decisions is vital to the health of your portfolio.
Remember in your mid-twenties when retirement seemed like a lifetime away, and living paycheck to paycheck was not only the norm, but your reality? ”If only I knew then what I know now” can be heard echoing throughout offices in banks around the country.