Gen Z

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5 Most Important Money Skills for Gen Z To Learn Now

The oldest Gen Zers are now in their mid-20s, and while they might feel like they have all the time in the world, the financial habits they set today will be harder to break the older they get. And that holds true whether those habits are good or bad. Find: How To Guard Your Wealth From a Potential Banking Crisis With GoldSee: 3 Ways To Recession-Proof Your Retirement If young adults start practicing a handful of basic money skills now, they can get into healthy patterns that build a foundation for wealth and financial security in the future. The following five money skills…

Millennials

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These 5 Money Skills Are Most Important for Millennials Right Now

In 2023, millennials will be turning anywhere between 27 to 42 years old. The priorities that mean the most to them are changing, and now more than ever, it matters for this generation to master their financial skills. $2,000 Quarter? Check Your Pockets Before You Use This 2004 CoinRelated: How to Guard Your Wealth From A Potential Banking Crisis with Gold While the economic landscape may be bumpy, there are certain money skills that can help millennials reach their goals and get on the road toward financial freedom. These money skills are most important for millennials right now. Learning How…

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6 Steps To Take Before Buying a House

You’ve decided that you want to buy a house, but you’re not sure where to start. Housing Market 2023: Is a Double-Digit Drop in Prices Coming?Advice: 3 Things You Must Do When Your Savings Reach $50,000Buying a home can be a really daunting and competitive process. It’s important to know what you need — and want — before you start submitting offers where you’re on the hook for hundreds of thousands of dollars. There are some key steps to take before you purchase a home that will help ensure the process goes smoothly and you end up with a house…

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Experts: 5 Things Millennials Should Know About Social Security

Many millennials, born between 1981 to 1996, are approaching or are already in their 40s. This means millennials are old enough to start thinking about Social Security and the key role it plays in retirement. Here’s what millennials need to know about Social Security as a retirement benefit right now, plus GOBankingRates takes a deep dive into the biggest myth surrounding the future of Social Security.  The Future of Finances: Gen Z & How They Relate to MoneyMore: 7 Surprisingly Easy Ways To Reach Your Retirement Goals Social Security Includes Disability Benefits Most people commonly associate Social Security with retirement…

10 Ways Millennials Will Waste Money in Retirement

Whether millennials will have enough money to last them throughout their retirement remains to be seen. So far, things aren’t looking great for this generation. Learn: 10 Aldi Brand Products Worth BuyingDiscover: 3 Ways To Recession-Proof Your Retirement According to a 2022 survey by Goldman Sachs, 34% of millennials feel behind on saving for retirement. Factors making it difficult to build up a sufficient nest egg include towering student loan debt and the high costs of housing and child care. But it’s not just saving for retirement that millennials must do; saving during retirement will also be critical. As it…

Gen X

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Gen X Should Focus on These 6 Money Skills, According to Experts

Generally, individuals born between 1965 and 1980 are considered a part of Generation X. Gen X, as they are called for short, has often been described as the “middle child” generation since they are sandwiched between baby boomers and millennials. According to Britannica, Gen X is known for being “resourceful, independent, and keen on maintaining work-life balance.” See: Why Stealth Wealth Is the Best Way To Handle Your MoneyFind Out: How To Guard Your Wealth From a Potential Banking Crisis With Gold Gen Xers are at a point in their careers where they are in their higher-earning years. Many have…

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15 Most Important Assets That Will Increase Your Net Worth

Your net worth is more than just the balance in your bank account. It’s a measure of your financial health. I’m a Financial Planning Expert: Here Are 5 Things You Should Never Spend Money on If You Want To Be RichSee: How To Get Cash Back on Your Everyday Purchases To get the answer to “What is my net worth?” subtract your total liabilities from your total assets. If you’re trying to figure out which assets are the most valuable or will otherwise give your net worth a boost, here’s a rundown of 15 critical assets. Learn how you can start…

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Top 4 Money Mistakes People Make in Their 40s

The 40s are a time when you’re often having to juggle prioritizing financial security for yourself and your children. It’s a time when you’re established in your career, but retirement still feels a ways away. It’s also a time when you may have more disposable income than at other points in your life, but may not be sure of the best ways to use it. Discover: 8 Best New Grocery Items at Dollar Tree To Help Combat InflationRead: How To Guard Your Wealth From a Potential Banking Crisis With Gold Because this decade can feel like a juggling act, it’s no wonder…

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10 Basics You Need To Understand When Selling Your House

You’re preparing to sell your home, and you want to learn as much as possible about what’s in store. Whether you’re a first-time seller or just haven’t sold a property in a long time, you’re hoping to go into the process as informed as possible.  Be Aware: 7 Florida Cities That Could Be Headed For a Housing CrisisSee: 3 Things You Must Do When Your Savings Reach $50,000 To help you learn what to expect, GOBankingRates spoke with two real estate professionals to learn more about selling process. Keep reading to find out what they had to say. Fees To…

Boomers

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5 Money Skills Baby Boomers Need To Continue Learning

Boomers have a lot of experience, both in life and in the financial markets. This can help them avoid some of the more common financial mistakes that younger generations may make with their portfolios. Find: 7 Ways Baby Boomers Are Wasting Money in Retirement — and How To Stop ItSee: 3 Ways To Recession-Proof Your Retirement But since the financial services industry is ever-evolving, even boomers need to take note of the ongoing changes. Keeping up-to-date with the latest market conditions, technological advances and investment opportunities is essential to optimizing a long-term portfolio, so boomers in particular need to continue…

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How Financial Literacy Changes Once You’re Retired

Financial literacy covers a wide range of topics, from budgeting and saving to investing and planning for retirement. Once you retire, however, financial literacy broadens to include scenarios that may not have been as relevant during your working life. For example, income typically drops in retirement, while expenses may remain the same or even rise, depending on the type of lifestyle you lead and the condition of your general health. Next: Retirees Confess What They Wish They’d Done With Their MoneyFind Out More: 3 Ways To Recession-Proof Your Retirement Financial Literacy Month is a great time for both seniors and…

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Top 5 Financial Tools That Boomers Need To Know

Baby boomers are generally considered to have been born between 1946 and 1964. As such, they have a wealth of experience that they can tap into to help them with their investments. On the downside, however, it means that some of them might not be as up to date on financial technology as younger generations. While boomers shouldn’t abandon their hard-earned wisdom over the years, they should also be aware of more modern developments that can enhance their personal finances even more. Here are some of the top financial tools that boomers need to know. See: 7 Ways Baby Boomers…

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Why Boomers Aren’t Done Learning About Money

You might be getting older, but you’re not done learning about money yet.  See: 6 Big Shakeups to Social Security in 2023Learn: How to Guard Your Wealth From A Potential Banking Crisis with Gold It might seem as though baby boomers can begin sunsetting their financial literacy journey as they look to retirement. Because the financial world is continually in flux, however, nationally certified financial instructor (NFEC) Chris Longworth of The Financial Education Group said financial literacy is a lifelong journey that should never end.  Ever-changing rules require boomers to remain educated in order to stay ahead of the curve….

Is My Social Security Going To Get Cut in the Future?

In the future, with all the Social Security problems, if we are collecting Social Security, what are the chances that they will decrease the payment to those already collecting?  – Jeff K.; McDonough, Georgia Hi Jeff, I completely understand why you fear your Social Security payments will be reduced, or possibly eliminated entirely. The Trustees of the Social Security and Medicare trust funds reports that “The Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100 percent of total scheduled benefits until 2033.” So what happens when we get to 2033? I asked a few experts to…