Image for post
Image for post

Retirement-related anxiety is a common theme among Americans. According to GOBankingRates’ 2019 retirement survey, 64 percent of the survey’s 2,000 respondents expect to retire with less than $10,000 in savings. Moreover, almost half of all respondents said they had no money set aside for retirement.

These numbers are in stark contrast to the general retirement savings rule of thumb, which suggests you should save at least 15 percent of your annual income before taxes. However, this is just a guideline and might be different for you based on how you wish to live post-retirement. …

Image for post
Image for post

Though a recent innovation, cryptocurrency has certainly taken the world by storm over the last several years. Originally introduced around 2009 with bitcoin, it did not at first attract international attention, viewed instead as a passing curiosity. But today, that has changed, and cryptocurrencies of all types are fast becoming an important focus of discussions on cybersecurity, regulation, and other financial issues as they continue to gain traction. For those new to cryptocurrency, here is more information about what you should know.

How Does Cryptocurrency Work?

Cryptocurrencies are, quite simply, forms of digital currency that can be used to purchase other goods or traded among users for profit. For most users of cryptocurrency, that trading is the main focus of their use. These virtual currencies are secured through the use of blockchain, a distributed ledger used to record and verify transactions made without a central authority. …

Image for post
Image for post

The coronavirus pandemic has wreaked havoc on many people’s retirement plans. Many people are looking closely at their retirement accounts and figuring out their plans for the future.

One of the questions that you may have is whether or not it makes sense to convert your traditional individual retirement accounts (IRAs) into Roth IRA accounts. Roth IRAs are a way to reduce your tax burden if you believe income tax rates will be raised in the future. …

Image for post
Image for post

Retirement planning can be complicated and stressful. For that reason, many people simply opt to fund their employer-provided 401(k) up to the maximum limit and trust that they’ll have enough for retirement. 401(k) plans are a solid way to save for retirement because you make contributions on a pre-tax basis and pay no taxes on your earnings until you withdraw them. Furthermore, many employers match employees’ contributions, at least up to a certain percentage. However, caps on contributions limit the 401(k)’s ability to provide a comfortable retirement on its own. …

Image for post
Image for post

Though many people consider financial planning as something only necessary for those with a substantial amount of wealth, the truth is that anyone can benefit from a good financial plan. Financial plans are a way to secure your financial future, build wealth, and afford large purchases or emergencies without going into debt.

You don’t need to be wealthy right now to put a good financial plan into place; you only need to care about stabilizing your financial future. Here are a few tips to help you create and maintain your own personal financial plan today.

What Is a Financial Plan?

Simply put, a financial plan is a complete picture of your current financial situation, the goals you have for your financial future, and the plans you have to meet those goals. Your financial plan should include accurate figures for your savings, cash flow, investments, debts, mortgage, insurance, and any other components of your financial assets and liabilities. …

With cryptocurrencies becoming a more regular part of daily lives around the world, many people are beginning to wonder what types of cryptocurrencies are available and how they can purchase them and add them to their portfolios.

While people are most familiar with Bitcoin, there are many different types of cryptocurrencies and some of them work in different ways. Here are a few of the most popular types available to purchase, and more information on exactly how you can go about acquiring them yourself.

Types of Cryptocurrencies

There are a few different types of cryptocurrencies available. The original cryptocurrency category, which includes Bitcoin, is called transactional cryptocurrency. …

When you’re dealing with complicated finances or trying to build your wealth, there comes a time when you might benefit from hiring a professional to assist you. These financial professionals are typically called financial planners, though you may hear the term “financial advisor” also used almost interchangeably.

Here’s a look at the differences between financial planners and financial advisors, and how to decide when it’s time to hire a professional to help with your finances. You may not need a financial planner right now, but eventually, having someone to help you create a long-term financial plan may be beneficial.

Image for post
Image for post
Photo by Avel Chuklanov on Unsplash

Advisors or Planners? What’s the Difference?

In many parts of the finance industry, the terms “financial planner” and “financial advisor” are used almost interchangeably to describe a financial professional who assists you with managing your finances and planning for your future. There are differences, however, between these two types of professionals. …

IRAs, or Individual Retirement Accounts, are special type of investment accounts designed to help you build your retirement nest egg and set aside money for later in life. These types of accounts are really designed for the long-term, allowing you to save and invest money over a long period of time for your future. IRA accounts also offer some important tax benefits that can end up saving you thousands of dollars over the long term.

Though some employers offer IRA options, the more common retirement account option through your employer would be a 401(k). IRAs are more typically a type of retirement account taken on by an individual, usually to help supplement retirement savings in other accounts, like a 401(k). …

Saving for retirement is a long process that can take many years and a lot of hard work. It can be difficult to decide how to begin building a retirement savings, and many people wonder how much they will need and how to ensure that they can meet all of their financial goals. If you are one of the many people wondering how to get started with your retirement savings, there are a few things you can consider doing to help ensure that you have enough money stored away to have the kind of retirement that you’ve always wanted.

Where Do I Begin?

While it’s never too early to begin saving for retirement, deciding on how aggressive you want to be and how high that retirement savings should be on your list of priorities will vary depending on the age at which you are when you start to save. The earlier you start saving, the more likely it will be that you will be able to reach your retirement goals. Starting to save as early as your 20s is an excellent idea. If your employer offers any retirement account options, you should be sure to take advantage of them as much as you can. Many companies offer a 401(k) program through which they will match up to a certain percentage or dollar amount that you contribute to your account. Since this means free money for you, it’s important to take advantage of this as much as possible. …

Cryptocurrency has fast become an accepted part of today’s technology-driven world. First something of a novelty, cryptocurrency quickly gained ground and media attention when many people suddenly found themselves rich overnight after Bitcoin’s explosive growth.

Today, it seems that new and different types of cryptocurrency enter the market every day, offering buyers more options to choose from. Additionally, the technology that fuels cryptocurrency (blockchain) has taken off in its own right, making waves as a potential new solution for other important types of data encryption (such as patient records in the healthcare industry). …


Robert Ryerson

Robert Ryerson authored the 2016 book What’s the Deal With Identity Theft?: A Plain English Look at Our Fastest Growing Crime.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store