The world has been in a panic since the outbreak of coronavirus, causing almost unprecedented market volatility. Some have been quick to compare this to the credit crisis of 2008 that lasted five years. Depending on the duration of the health crisis, I foresee it more closely mirroring the financial events that followed the attacks on September 11, 2001—sharp drop in the market that recovered relatively quickly.

Many people struggle to save for retirement, even when the economy is strong and life carries on as usual. But now that the country is deep in crisis mode, many people are suddenly struggling to keep their paychecks or manage their jobs remotely. Many are also rushing to stock up on key supplies so they're able to hunker down at home for as long as possible, and that means spending [...]

The retirement planning rule book is under siege. And if you haven't examined your retirement plan lately, it's likely hopelessly out-of-date. Why? America has a retirement crisis — and a budget crisis. And lawmakers are cooking up solutions to fix both problems, but with conflicting results. And that's putting retirement rules in play, threatening to foil many retirees' plans. Or at least change them. The result? Uncertainty. "People hate uncertainty [...]

When someone approaching retirement comes to me, almost ready to begin living off the hard-earned savings they have accumulated over 30-plus years, I’m reminded of an intriguing factoid that the Discovery Channel never tires of sharing: More people die descending Mount Everest than on the ascent. Spending down your retirement accounts is similar in that it involves more risk than the trek up the savings mountain. How much can you afford to [...]

Though not every worker has access to a 401(k) plan, those who are eligible to participate in one would be wise to capitalize on that option -- especially as retirement nears. But in a recent survey by Principal Financial Group, roughly 16% of pre-retirees earning $100,000 or more per year are not participating in a 401(k). And that's a mistake they might really regret. Personal savings are a must for [...]

Though not every worker has access to a 401(k) plan, those who are eligible to participate in one would be wise to capitalize on that option -- especially as retirement nears. But in a recent survey by Principal Financial Group, roughly 16% of pre-retirees earning $100,000 or more per year are not participating in a 401(k). And that's a mistake they might really regret. Personal savings are a must for [...]