personal finance

'What are the odds?  I retire and the stock market crashes.  All my plans are upside down.'  I want to draw on my 401(k) to renovate my new home.  What options do I have?

‘What are the odds? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have?

Dear Quentin, I’m due to retire in two months and I have already moved to my new home in the sun. I have not sold my apartment in a major US metropolitan area on the east coast, as I wanted to see how I settled into my new life. It’s a quiet, but beautiful city …

‘What are the odds? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have? Read More »

How this 29-year-old turned his side hustle into a $1.5 million business

How this 29-year-old turned his side hustle into a $1.5 million business

In 2014, I was fresh out of college and thought I had my life all planned out: Go to medical school, get a six-figure job as a doctor, and make my parents proud. None of that worked out. I realized I hated blood and needles, and got rejected from more than 15 medical schools. My …

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High inflation points to bigger Social Security COLA in 2023

High inflation points to bigger Social Security COLA in 2023

Joe Raedle | Getty Images News | Getty Images Social Security beneficiaries could see another record cost-of-living adjustment in 2023, based on the latest government data showing persistent high inflation. But that increase may not be enough to counter the loss in buying power recipients have experienced over the years, according to a new analysis …

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How fast does inflation cut buying power?  Here's a simple guide

How fast does inflation cut buying power? Here’s a simple guide

Alvarez | digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the US Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the readings …

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Why the UK economy is one of the most vulnerable right now

Why the UK economy is one of the most vulnerable right now

George Clerk | E+ | Getty Images There’s an economic idiosyncrasy in the UK that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder of Cribstone Strategic Macro, argues that a major problem for Britain is that its mortgage market is “heavily …

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Your new 'retirement' home could be a cruise ship

Your new ‘retirement’ home could be a cruise ship

Jeff Farschman, 72, is a serial cruiser from Delaware who spends months at sea in retirement. Jeff Farschman For nearly two decades, Jeff Farschman, 72, has spent his golden years like many other adventurous retirees — enjoying leisure cruises to exotic ports of call. But unlike many of his fellow cruise passengers, Farschman basically lives …

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What Bitcoin Could Be Worth to Fidelity.  You'll Be Surprised.

What Bitcoin Could Be Worth to Fidelity. You’ll Be Surprised.

Text size Fidelity’s push into Bitcoin is raising controversy but could be lucrative for the company. Dreamstime.com Fidelity Investments shocked the retirement industry last month with a move to make Bitcoin available in 401(k) plans. Add up the revenue that might bring in, and it starts to be less of a surprise. Fidelity is the …

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Worried about a recession?  Here's how to prepare your portfolio

Worried about a recession? Here’s how to prepare your portfolio

FGTrade | iStock | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. “We all understand that markets go through cycles and recession is part of the cycle that we may be facing,” said certified financial planner Elliot Herman, partner at PRW Wealth Management in Quincy, Massachusetts. …

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Worried about a recession?  Here's how to prepare your portfolio

Worried about a recession? Here’s how to prepare your portfolio

FGTrade | iStock | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. “We all understand that markets go through cycles and recession is part of the cycle that we may be facing,” said certified financial planner Elliot Herman, partner at PRW Wealth Management in Quincy, Massachusetts. …

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Your cash savings may get a higher return but only at certain banks

Your cash savings may get a higher return but only at certain banks

Guido Mieth | Digital Vision | Getty Images Banks are starting to pay a higher return on your cash — good news for savers who’ve seen their stockpiles languishing from a gruesome combination of low interest rates and high inflation. However, some banks are moving faster than others. Some, particularly traditional brick-and-mortar shops, may not …

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