America is getting older. With 10,000 people turning 65 each day, both they and their families will be faced with some new challenges. Sure, we’re familiar with the common struggles. Adjusting to retirement, healthcare, transportation, and so on. However, another…
Based on how things are looking for my family this year, I think I may have over contributed to my Roth IRA. What should I do to fix this? — Concerned. ———— Dear Concerned, If you’ve read our blogs…
Pete and Team, While reviewing my 401(k) transaction history, I noticed irregular time gaps between deposits. I also noticed deposits in multiples of my weekly withheld amount. It looks to me like the company (currently in bankruptcy proceedings) was deciding…
Hey Pete and Damian! I’m hoping you can answer a savings question for me…. My wife is the primary breadwinner for our household. Besides taking care of things in and around the home, shopping, and transporting our daughter for school,…
I typically max my 401(k) out each year and I think I could actually do it much earlier in the year if I changed my contributions. Is this a good idea? Scott ———— Hey Scott, Congratulations on being…
As the COVID-19 crisis continues, the severity of the economic impact on households is becoming clearer and more widespread. For some, the impact may be prolonged. As the ability to postpone creditor payments diminishes over time and emergency savings whither,…
Dear Pete, My husband and I are wanting to purchase our first home. We are 58 years old and are concerned that we are too old, and will have a hard time getting a mortgage. Should we buy or continue to lease?…
Dear Pete, I’m worried about what will happen to my retirement income when my husband dies. I’m 52 years old, and he’s 62. He’s made much more money than me for years, and I personally don’t have many assets. He…
Dear Pete, I’m 58 and for the first time ever, retirement seems real to me. The problem is, I don’t have any money. I make a lot ($200k a year) at my new job, but due to a large number…
The end of 2019 brought us a significant piece of financial legislation that you should be familiar with. The Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act, was passed as an add on to an…