Business News

In your 40s with no retirement savings? Make these your next moves

It’s no secret that Americans, on the whole, are behind on retirement savings. While it’s one thing to be in your 20s or 30s with no nest egg, by the time you reach your 40s it’s a bad situation.

Though the average American aged 44 to 49 has a little over $81,000 socked away for the future, according to the Economic Policy Institute, there are plenty of 40-somethings with no savings at all. If you’re one of them, here’s how to recover.

1. Don’t panic

Nerve-wracking as it may be to find yourself in your 40s without a dime

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How to catch up on retirement savings in your 50s

If you’re nearing retirement age and your savings are looking a little sparse, you’re not alone. Forty-six percent of baby boomers don’t have anything stashed away for retirement, according to a study from the Insured Retirement Institute, which means nearly half of soon-to-be retirees need to supercharge their savings if they don’t want to work the rest of their lives.

The bad news is that if you’re in your 50s and are just now starting to save, it’s going to be a tough road ahead to save enough to enjoy a comfortable retirement. The good news is that it can

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How can I protect my investments from inflation?

Even as your investments increase in value, inflation can eat away at what they’re worth.

There are things investors can do to hedge the immediate effects of inflation, or earn a return that outpaces inflation over time. But it can be hard to predict.

“After-inflation returns are the only ones that matter for investors in the real world,” says Robinson Crawford, an investment adviser with Montebello Avenue.

Even if inflation is currently rising more slowly than analysts predicted, it’s better to be prepared.

Stocks

Financial advisers say one of the most consistent hedges against inflation is a properly diversified stock

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How can I protect my investments from inflation?

Even as your investments increase in value, inflation can eat away at what they’re worth.

There are things investors can do to hedge the immediate effects of inflation, or earn a return that outpaces inflation over time. But it can be hard to predict.

“After-inflation returns are the only ones that matter for investors in the real world,” says Robinson Crawford, an investment adviser with Montebello Avenue.

Even if inflation is currently rising more slowly than analysts predicted, it’s better to be prepared.

Stocks

Financial advisers say one of the most consistent hedges against inflation is a properly diversified stock

Read More