How Young Professionals Can Build Wealth—Even in Today’s Economy
Young Canadian professionals can still build wealth despite high living costs by focusing on intentional habits rather than income alone. The article advises capturing at least half of any raise, starting modest contributions of roughly $40‑$150 per paycheck, and automating transfers to eliminate discretionary spending. It emphasizes using tax‑advantaged accounts such as TFSA, FHSA and RRSP, and gradually increasing the savings rate to reach the 20% benchmark. Consistency, protection, and avoiding comparison are presented as the final pillars for long‑term financial growth.
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Edward Jones CD Rates: June 2026
Edward Jones markets brokered certificates of deposit that can deliver APYs between 3.90% and 4.25%, with the top 60‑month offering at 4.25%. The minimum investment is $1,000 and terms range from three to 120 months, but the products are not...
More Workers Are Raiding Their 401(k)s as Average Balances Fall, Fidelity Says
Fidelity reports that average 401(k) balances fell 4% to $141,000 in Q1 2026 as market volatility from the Iran‑Israel conflict spurred more workers to tap retirement accounts. Hardship withdrawals rose to 2.5% of participants and 401(k) loan prevalence increased to...
Is $3.2 Million Enough to Retire in an Expensive College Town?
Retirees with a $3.2 million nest egg are weighing moves to high‑cost college towns, where stable university‑driven housing markets can protect property values. Experts break down the numbers, showing a 3‑3.5% withdrawal rate yields $96‑$112 k annually, while property taxes and maintenance...
Ask the Expert: Should I Invest Instead of Buying a Home?
Fidelity specialist Marianna Hunt advises a London‑based twenty‑somethings that, given today’s market, investing a £20,000 (≈$25,400) savings pool may outpace buying a modest flat. She notes that after inflation UK home values have slipped over the past three‑to‑five years, while...
Can I Open a 529 Plan for Myself? Requirements and Options
A 529 plan isn’t limited to parents saving for children; adults can open one for themselves, naming themselves as both owner and beneficiary. The account has no age or income restrictions, and contributions grow tax‑deferred with tax‑free withdrawals for qualified...
Can You Switch Mortgage Lenders? Reasons and Steps
Borrowers are not locked into their first mortgage lender and can switch before the loan closes to capture lower interest rates, reduced fees, or better service. Switching is common during both home purchases and refinances, but it must be timed...
401(k) Convos Give Advisors Inroads with Next-Gen Clients
Financial advisors are turning parent‑client relationships into a channel for reaching recent college graduates, urging them to start 401(k) contributions immediately and capture employer matches. Advisors like Mitchell Kraus and Frani Feit emphasize educational conversations about benefits, contribution percentages, and...
This Bank Just Lifted Its CD Yield. Here's Where You Can Nab 4%
Bread Financial lifted its 1‑year CD annual percentage yield to 4.00%, joining a handful of online banks that now offer 4%‑plus rates as Federal Reserve rate cuts look unlikely this year. The increase reflects accelerating loan growth, a call on...
The Markup Trap: How to Tell If You’re Overpaying for Gold by 20% or More
Gold’s appeal as an inflation hedge is tempered by dealer premiums that can dramatically increase purchase costs. While typical bullion markups sit in the low‑single digits to about 10%, some sellers add 20% or more, eroding potential returns. The article...
Millions of People with Disabilities May Be Missing Out on This Little-Known Savings Tool
Millions of Americans with disabilities are missing out on ABLE accounts, a tax‑advantaged savings vehicle that lets them stash up to $100,000 without losing Medicaid or SSI benefits. Awareness remains low—only about 2% of employees know about ABLEs and just...
Tata Mutual Fund Launches New Ad Promoting SIP & Lumpsum Investing
Tata Mutual Fund has launched a cricket‑themed investor‑education campaign that spotlights systematic investment plans (SIPs) and lump‑sum investing. The three‑film digital series, released in eight regional languages, uses everyday cricket‑watching moments to illustrate disciplined, long‑term investing. Executives emphasized that consistent...
My Friend, 62, Earns $20,000 a Year. Should She Take Social Security Now — and Claim Survivor’s Benefit at 67?
A 62‑year‑old woman earning under $20,000 annually is considering quitting her small service business to claim Social Security early. She recently divorced, has modest savings, and lives with her adult son who will care for his brother. The article calculates...
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Choosing Between Mutual Funds and Stocks: A Beginner's Guide
The article serves as a beginner’s guide to choosing between mutual funds and individual stocks, outlining how funds provide instant diversification and professional management while stocks offer higher upside potential but demand active research. It compares risk, fees, and expected...
‘This Can Be a Group Project’: A Podcaster’s Plan to Make Her Daughter a Millionaire
Latina podcaster Jannese Torres is building a multimillion‑dollar nest egg for her 15‑month‑old daughter by combining a 529 college plan, a brokerage account and a Roth IRA. At age 15 months the child already has about $13,000 saved, including a...
Why Annuities Are Often Misunderstood — and What They Actually Do
Annuities are contracts that turn a slice of retirement savings into guaranteed, lifelong payments, filling the income gap that 401(k)s and Social Security leave. The article explains the two broad categories—immediate versus deferred—and the three common deferred structures: fixed, fixed‑indexed,...
My Advisor Brings Financial Coaching to FNB App
First National Bank (FNB) has introduced My Advisor, an AI‑powered financial coaching feature embedded in its mobile app. The tool pulls a customer’s banking data to deliver a unified dashboard covering spending, debt, savings, insurance, wealth and retirement planning, plus...
When Will I Receive My Old Age Security Benefits? OAS Payment Dates for 2026
Canada’s Old Age Security (OAS) program will disburse monthly payments on specific dates throughout 2026, starting Jan 28 and ending Dec 22. Eligible seniors can receive up to $542 USD per month (age 65‑74) or $596 USD (age 75+) if their annual net income stays below...
Student Loan Repayments Are Being Overhauled. What Borrowers Should Know.
Starting July 1, the Trump administration will dismantle the SAVE income‑driven repayment plan, forcing roughly seven million federal student‑loan borrowers to choose a new repayment option. Servicers will issue notices with deadlines, and a new Revised Pay As You Earn (RAP) plan...
The 2027 Social Security Cost-of-Living Adjustment (COLA) Is Still 7 Months Away. Here's What to Do if You're Struggling in...
Seniors received a 2.8% Social Security cost‑of‑living adjustment in January 2026, leaving the average monthly benefit at $2,081. With inflation eroding purchasing power, many retirees are seeking ways to stretch their income while awaiting the 2027 COLA, expected in mid‑October....
3 Simple Ways to Quietly Save Money and Build Wealth
The article outlines three low‑key strategies for building wealth: eliminating unnecessary fees, automating savings and investments, and sticking to diversified, low‑cost index funds. By keeping cash on hand to avoid overdraft and ATM charges, investors preserve more principal for compounding....
Boosting Retirement Savings Has a Less-Appreciated Benefit
Boosting a household's savings rate does more than grow a retirement portfolio; it also lowers the amount needed to sustain post‑work living, enabling earlier financial independence. A side‑by‑side example shows two $250,000 earners saving 10% versus 30%: the lower saver...
I’m 66 and Have $85,000 in My HSA. When Should I Start Spending It?
A 66‑year‑old with an $85,000 health‑savings account wonders when to start drawing down the funds. Because contributions cease once Medicare enrollment begins, the account now functions as a tax‑free retirement cash reserve. At a 7% compound rate, the balance could...
I’m 67. Our Family Trust Earns $300,000 Annually for My Kids. How Do I En...
A 67‑year‑old grantor with a revocable trust that generates roughly $300,000 of annual income wants to distribute that income to his children each year to avoid the steep tax brackets that apply to irrevocable, non‑grantor trusts. Distributions allow the trust...
Can You Really Lower Your Bills Just By Asking? Here's What Happened When I Tried.
A consumer tested the classic advice of calling service providers to ask for lower rates and saved over $720 in a year. The experiment covered streaming (Peacock), fitness (Fitbit Premium), utilities (electric), and telecom (AT&T internet), yielding discounts ranging from...
Suddenly Inherited Money? The Critical Steps You Need to Take First
The so‑called Great Wealth Transfer could move roughly $124 trillion across generations in the next 10‑20 years, with women expected to inherit a disproportionate share. Financial advisers caution that many heirs either never receive the anticipated funds or quickly deplete them,...
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The 9 Best Places To Put Your Savings
The article outlines nine optimal places to park cash, ranging from traditional savings accounts and high‑yield online accounts to certificates of deposit, money‑market products, Treasury securities, bonds, and tax‑advantaged accounts such as HSAs and Roth IRAs. Each option is evaluated...
5 Vanguard Mutual Funds to Navigate Inflation and Geopolitical Risks
The U.S. economy showed resilience in April, with CPI up 3.8% year‑over‑year and core CPI 2.8% amid oil prices above $100 per barrel. Producer Price Index surged 6% YoY, the highest since 2022, pushing bond yields higher as Fed rate‑cut...
Ask the Tax Editor, May 22: Roth IRAs and the Five-Year Rule
The IRS imposes two five‑year rules on Roth IRAs: one governing tax‑free earnings and another governing the 10% early‑withdrawal penalty on conversions. The earnings rule’s clock starts on January 1 of the year you first fund any Roth IRA, and it...
When Lower Interest Rates Make It Tougher to Save, Don't Stop — Just Switch Up the Game a Bit
As the Federal Reserve nudged rates lower at the end of 2025, borrowers welcomed cheaper loans while savers saw returns on cash‑based products tumble. A WalletHub poll shows 56% of Americans are dissatisfied with bank‑account yields, and many feel less...
Laura Pomfret - CCJs, Decrees and Unpaid Court Debts
On 22 May finance commentator Laura Pomfret appeared on Morning Live to discuss the sharp rise in County Court Judgments (CCJs) across England, Wales and Northern Ireland, and their Scottish counterpart, decrees. She outlined why more borrowers are receiving judgments, the...
Credit Card as a Budgeting Tool? Tips for Young Credit Card Users
Young adults can turn credit cards into effective budgeting tools by selecting rewards that match everyday spend, treating the card like a debit card, and maintaining disciplined payment habits. Keeping credit utilization under 30% and paying the full statement balance...
'Inflation Comes and Goes,' But Your Savings Can't Wait: Dave Ramsey’s 8 Ways to Protect Your Retirement
Dave Ramsey emphasizes that Social Security should be viewed as a supplemental benefit, not the foundation of retirement income. He advises saving roughly 15% of earnings each year and adopting disciplined withdrawal strategies—such as the 4% rule or bucket approach—to...
Suze Orman’s 2 Personal Finance Rules to Follow (and 2 to Rethink)
Suze Orman advises building a three‑to‑six‑month emergency fund and maintaining a solid credit score as foundational personal‑finance habits. She cautions against car leasing, arguing it can be a costly depreciation trap, and suggests limiting debit‑card use in favor of strategic...
Millennials, Many of You Are Making These Common Money Mistakes (and You Won't Like the Consequences)
Millennials in their 30s and 40s often sideline retirement savings, yet early contributions dramatically boost long‑term wealth. A $300 monthly 401(k) deposit at age 35 can grow to about $340,000 by 65, whereas starting at 45 yields just $147,000, highlighting...
Is Your 401(k) Rollover Truly Protected in an IRA? Take Our Quiz
Moving a 401(k) to an IRA removes the federal ERISA shield that safeguards employer‑sponsored plans, exposing the assets to creditor claims, bankruptcy rule changes, and higher administrative risk. The quiz highlights that rolled‑over dollars no longer enjoy automatic bankruptcy protection...
Worried About College Savings? Bond Ladder ETFs Could Help
Investors worried about rising college costs can turn to bond ladder ETFs, specifically the Northern Trust 2030 Inflation‑Linked Distributing Ladder ETF (TIPA). TIPA builds a ladder of U.S. Treasury Inflation‑Protected Securities (TIPS) that mature each year through 2030, delivering inflation‑adjusted...
Why I Invest In A 529 Plan
Parents are turning to 529 college‑savings plans to lock in tax‑advantaged growth for future education costs. The One Big Beautiful Bill Act, signed last summer, broadened qualified expenses to include K‑12 tuition, vocational training and up to $20,000 annually for...
Fallen Into Negative Home Equity? Here Are Your Options
Canada’s housing market has reversed its pandemic‑era boom, with prices dropping 20% from the early‑2022 peak and a further 0.4% decline in March. The slide has pushed many recent buyers—especially those who put down only 5‑10%—into negative equity, or “underwater”...
How the Bank of England Base Rate Affects Your Mortgage, Savings and Loans
The Bank of England’s base rate serves as the benchmark for UK mortgage, savings and loan pricing. When the rate rises, variable‑rate mortgages and most consumer loans become more expensive, while savings accounts tend to offer higher returns. Fixed‑rate products...
Opening a Brokerage Account for a Minor: Uses, Types and Steps
Adults can open custodial brokerage accounts—UGMA, UTMA, custodial Roth IRAs, or teen‑direct accounts—on behalf of minors, allowing the child to own investments from birth. These accounts have no contribution limits, broad investment choices, and the assets become the child’s property...
‘He Didn’t Really Pay Attention’: I Told My Friend He Left Millions on the Table in Retirement. Did I Do...
A senior publishing executive earned $250,000‑$450,000 annually, maxed out his 401(k)s, and lived frugally, yet kept the bulk of his savings in cash. By ignoring investment options beyond tax‑advantaged accounts, he potentially forfeited millions of dollars in compounded growth. The...
I'm a Financial Planner: My 2 Key Rules for Investing Work Even When the Markets Are in a Tizzy
Veteran financial planner emphasizes two controllable pillars: spending awareness and asset allocation. By monitoring where money goes and aligning it with personal values, investors can live within their means. Simultaneously, setting a balanced allocation—mixing conservative assets with equities—protects against severe...
The $40,000 Tax Move That Comes After Your 401(k) Hits Its Limit
Affluent investors who have maxed out 401(k) and mega backdoor Roth contributions can still shave taxes by switching a taxable S&P 500 ETF to a direct‑indexed separately managed account. On a $1.2 million sleeve, the strategy typically harvests $30‑$50 k of losses, translating...
The Average American Made a Retirement Savings Mistake It's Hard to Come Back From -- But Not Impossible
Many Americans wait until their early thirties to begin retirement savings, missing years of compound growth. A study from Northwestern Mutual shows the average start age is 31, which forces later savers to contribute substantially more each month—about $509 versus...
I Have $310,000 in Cash From a Maturing CD. Where Should I Put It Next?
A wave of maturing certificates of deposit (CDs) is forcing savers to redeploy large cash balances, exemplified by a reader with $310,000 becoming available. The article advises splitting the funds to stay within the $250,000 FDIC insurance limit, using a...
I Have $500,000 in Retirement Savings. Is It Wise to Invest It with a Single Firm?
A 68‑year‑old retiree with $500,000 in a 403(b) is considering moving the balance to a rollover IRA at a single brokerage, which would push the account above the SIPC protection limit. The Securities Investor Protection Corporation insures up to $500,000...
I Always Dreamed of Buying a House, and Now I Can Finally Afford One. But I'm Realizing My Money Is...
After years of assuming homeownership was unattainable, a UK millennial couple finally qualified to buy a starter home. However, the properties within their budget were limited to undesirable locations, small spaces, and leasehold terms that offered little true ownership. Comparing...
The Break-Even Age for Delaying Social Security -- and Why It Does and Doesn't Matter Right Now
Social Security benefits can be claimed as early as age 62 or delayed until age 70, with monthly payments increasing by roughly 8% each year of delay. The break‑even age—when delayed claiming yields the same lifetime total as early claiming—typically...
Is a Roth Conversion Just Not That Into You? Here's When It's a Perfect Match (and When It Isn't)
A Roth conversion moves pre‑tax retirement assets into a Roth IRA, creating tax‑free growth but requiring income tax on the converted amount. While the strategy can boost long‑term flexibility and eliminate required minimum distributions, the five‑year waiting rule and immediate...