Daniel B. Kline The Motley Fool Published 10:00 AM EDT Apr 19, 2019 America's teenagers have a lot on their minds. They worry about school, about fitting in, about guns, about the environment, about just figuring out who they really are. But given that for the most part, mom and dad are still paying the bills, you might be surprised at how many of them are already worrying about money and their financial futures. According to a new survey from Junior Achievement and Citizen's Bank, 45% of teens say they're worried they won't be able to afford to live on their own when they reach adulthood, while 47% are worried about paying for college. The study also showed that 40% worry about finding a fulfilling, well-paying job, and 33% are concerned that they don't know enough about how to manage money. "These survey findings show a disconcerting lack of confidence among teens when it comes to achieving financial goals," said Jack Kosakowski, CEO of Junior Achievement USA, in a press … [Read more...] about U.S. teens worry about future financial independence.
Maurie Backman The Motley Fool Published 6:00 AM EDT Mar 25, 2019 Though retirement is an exciting milestone to look forward to, the idea of it can be nerve-wracking. After all, there's a host of financial unknowns associated with retirement, and living on a fixed income leaves many seniors struggling to make ends meet. It's therefore encouraging to learn that 84 percent of seniors today think their retirement has been as good as expected, if not better, according to T. Rowe Price. But that doesn't mean retirees don't harbor financial concerns. Many seniors have money-related worries on the brain, but according to T. Rowe Price, they all center on one key thing: healthcare. Delaying retirement: Why waiting 3 more years for Social Security benefits will help this 66-year-old If you're forced to retire early: What to do if you have to quit work because of health, job loss or family issues A valid concern Though healthcare can be a burden for Americans of all ages, it can often … [Read more...] about Retirement planning: Top financial concern for seniors is healthcare
Kailey Fralick The Motley Fool Published 5:00 AM EDT Mar 20, 2019 At times, rich people seem to inhabit another world, one apart from the financial concerns of the hard-working middle class. Many speculate there's a secret to joining the ranks of the elite, often involving an inheritance from a wealthy relative or a multibillion-dollar idea. But the truth is, it usually comes down to drive and smart financial planning. These aren't exactly secrets, but they're often what separate the wealthy from the wishful thinkers, and they're often overlooked. Here are four of the "secrets" that can help any worker grow their net worth. Working full-time for health coverage?: Many who want part-time jobs are stymied by costs Delaying retirement: Why waiting 3 more years for Social Security benefits will help this 66-year-old 1. Your money should be working for you, not the other way around Conventional wisdom says you must get a job and work hard to build wealth. There's truth in that, … [Read more...] about Investing tips: Secrets to financial planning that could make you rich
Finance is a feminist issue. As the FT’s personal finance editor, I feel qualified to say that the financial system frequently fails women. It is structurally rigged against us — so much so, that “having children” could top any list of the financial mistakes women make. It’s certainly not topping my list below — though many of the issues can be blamed on the gender pay gap. The pay disparity is put down to the disruptive effects of raising a family on a woman’s career prospects and earnings potential. But this imbalance is further magnified by the “gender pensions gap”, which many women won’t fully wake up to for decades to come. The astronomical cost of childcare and the stress of juggling work and family life are further factors — big problems, with no easy solutions. So what can you do? The biggest solution is raising awareness. I describe these as six “mistakes” as some remedial action can usually be … [Read more...] about Six costly financial mistakes women need to avoid
Regulator the Financial Conduct Authority has written to banks warning them about moving business away from the UK because of Brexit. Banks have been opening European subsidiaries and moving staff to locations that will remain inside the EU post-Brexit such as Amsterdam, Frankfurt and Dublin to ensure they are able to service customers after the UK leaves the trading bloc. An FCA spokesperson confirmed that it had warned banks about their actions in relation to Brexit, saying: “We have emphasised to firms that we expect decisions taken by them in relation to EU withdrawal to be consistent with our statutory objectives, which includes the interests of their clients” A letter seen by Financial News and signed by the FCA’s executive director for supervision Megan Butler warned banks that moving non-EU clients outside the UK could expose them to increased costs and new risks. The letter read: “We are prepared to intervene where we see steps being taken which could … [Read more...] about Regulator the Financial Conduct Authority warns banks about moving business away from the UK because of Brexit