The first key retirement planning milestone is the year in which you attain age 50. That’s the year when you can bump up your retirement plan contributions. In 2021, the maximum contributions to 401(k)s and 403(b)s increases from $19,500 to $26,000 per year.
In 2019 the onset of COVID-19 has spurred a recession in America, which some are referring to as a "she-cession." Here's why some women may have been hit harder financially during 2020's economic downturn.
Wildfires in California last summer, record numbers of tropical storms, freak blizzards and the Texas freeze-out in February 2021: It sure seems like there are a lot more natural disasters and emergencies than there used to be. And there are. According to NOAA, a record number of billion-dollar disasters struck the U.S. in 2020, reflecting a longer-term trend.
Many Americans will be receiving third stimulus checks soon. Discover if you're eligible and get your biggest questions answered in this in-depth guide.
More concerning is refinancing several times into another 30-year mortgage. Mortgages are expensive because interest is charged over a long period of time and homeowners do not stay in their homes for 30 years. According to the National Association of Realtors®, the median duration of homeownership in the US is 13 years[1] as of 2018. So, the idea of locking in a low rate may be appealing but, the reality is that most Americans are starting their mortgages over again before they are even half way through paying it off.
