An early retirement is a celebratory event when it happens according to your time line. But it can also be a financial wrecking ball when you're forced to exit the workforce prematurely - something many Americans experienced during the COVID-19 pandemic. Indeed, more than 3 million additional workers in the U.S. retired during the pandemic than is typical, according to a Federal Reserve Bank of Saint Louis analysis, which found "a significant number of people who had not planned to retire in 20

If you are among the millions of Americans who are contemplating a career change, be forewarned that it takes plenty of planning and, potentially, a pile of cash. Indeed, changing careers, at minimum, involves the opportunity cost of starting over on the salary ladder, not to mention the foregone promotions and retirement plan contributions from your former employer. It may also require retraining, new credentials, or a different college degree, which can set you back six figures or more, espec

When you’re in your twenties and early thirties, you have a huge advantage in growing wealth: Time.

Thousands of people become entrepreneurs and start a business every year. In fact, there have been about 400,000 startups annually for the last decade, according to the Small Business Administration.

To better understand life insurance, you should probably be familiar with some of the basic language and concepts. Here is a general outline plus some terms to get you started. We thought it'd be useful to help make sense of them. Types of insurance Term life insurance - This type of life insurance is very common. Term life insurance is often the most affordable option, but it is designed to provide coverage for only a specific period of time, such as 10, 20, or even 30 years in some cases. The

Split dollar is a cost- and tax-effective way to split the premiums and benefits of a permanent life insurance policy between two or more parties, such as an employer and an employee.

What should retirement savers do if they've maxed out their 401(k) contributions? As this article explains, some plans allow participants to make after-tax contributions to their traditional or Roth 401(k) plans. Another option is to contribute to a traditional IRA, Roth IRA or annuity. Savers may also want to consider their health savings plan. A sidebar discusses a "back door" Roth IRA option for high-income earners. Saving for retirement A 401(k) plan is an attractive employee benefit, allow

Term life insurance policyholders generally have a couple options if their term is ending and they desire further protection. They may be able to renew the policy without submitting to a new medical exam - or buy a new term life policy. Another possible option is to buy a permanent policy. This article highlights the advantages and drawbacks of each choice. Here's a common scenario: A young couple buys a 20-year term life policy when their children are born and they buy a home. They assume that