You may have heard the phrase “lifestyle inflation,” or seen articles about families making well over six figure incomes and still living paycheck to paycheck. This phenomenon is also known as “lifestyle creep” and refers to the tendency to let spending rise as income rises.
Your 50th birthday provides new opportunities to secure your financial future. For example, it gives you access to the “catch-up” provisions that allow you to contribute extra amounts to retirement accounts each year, which are not available to younger earners.
Are you ready for the summer vacation season?
Part of preparing for a vacation is knowing how to save money on your travel. Here are 15 ideas to get you started:
Are you planning to buy a home this year? As shown in the chart below, the rate of home buying dropped during the Great Recession but has picked up pace in the last few years.
Are you getting a tax refund this year?
Through the first week of April, most American taxpayers were owed a refund. Of the nearly 101 million tax returns filed, 80.2 million were due a tax refund averaging $2,851.
If you don’t yet have a plan for your refund, here are some suggestions:
After a prosperous 2016 for equity investors, global markets sustained their upward momentum in the first quarter of 2017 with most major indices ending higher.
If you would like to maximize your tax-deferred assets and you have not fully funded your traditional IRA or Roth IRA for 2016, you have until April 18 to make a contribution, since the usual tax filing date of April 15 falls on a holiday weekend this year.
Have you completed your tax returns yet?
If not, there is still time to make sure that you claim every deduction for which you qualify.
Here are 20 common deductions:
Benjamin Graham, the well-known value investor, in The Intelligent Investor created Mr. Market as an analogy to describe how the stock market works. “Every day he tells you what he thinks your interest [in your business partnership with him] is worth and furthermore offers either to buy you out or to sell you an additional interest on that basis. Sometimes his idea of value appears plausible…