Pay down debt or save for retirement?

Save by reducing debt: Paying less in interest An important part of building financial resilience is reducing the amount of debt you are carrying.  A you pay down debt there are natural benefits, including increasing your credit score, saving money on interest and fees, and gaining more disposable or discretionary income to allocate as you […]

Raising smart spenders and savers

Talking to kids about money can be awkward, but it’s important. That’s the takeaway from a recent T. Rowe Price survey, which showed that parents consider topics like death and politics easier to discuss with kids than saving for a goal. A full 85% wanted to avoid the issue by signing their kid up for […]

7 ways to boost your savings

Discover smart options to grow your savings. Although saving more takes some effort, it may be easier than you think-there may even be “free” money available that can help. Here are some tips: 1. Take advantage of your employer match If they’ll match 3%, you’ve just covered 6% of your retirement savings goal when you […]

The psychological side of spending your retirement savings

Many investors worry about outliving their savings. As a result, they sometimes underestimate what they can comfortably spend in retirement. For years, you’ve been saving and investing for retirement. But what happens when you finally retire and it’s time to switch gears from saving to spending? It turns out, many people are so focused on […]

Five Habits of 401(k) Millionaires

Although a million dollars may seem like a daunting figure, especially if you haven’t been diligent about saving, there’s good news: You don’t have to make $1 million to save $1 million. Many individuals who are saving for retirement aim to have at least $1 million in their retirement accounts when they exit the workforce. […]