Of course, that’s easier said than done, especially when it comes to the stock market. While that’s a normal reaction, selling out may be the worst thing you can do since you can miss out on recouping those losses if there is an upswing. Decreasing debt increases your net worth, so, over time, do what you can to pay down your mortgage, pay off your car loan and reduce any credit card debt. At the same time, consider cutting back on some of your expenses. The lower your expenses the more you’re worth — and the more you can save. There… Read More
Defined contribution plans are employer-sponsored retirement plans that depend on workers to make contributions and manage investments. An annuity is a contract you make with an insurance company or financial services firm. In exchange for one or several contributions in the present, the company agrees to provide future income (usually with some amount of interest) for a set number of years—or the rest of your life. Because of the certainty they offer, annuities are a popular option for people who want to receive reliable income in retirement when they no longer earn a salary. A target-date fund decides on the… Read More