Kiplinger

  • Monopoly for Millennials traffics in cliches

    Monopoly for Millennials traffics in cliches

    Hasbro recently updated its classic game with the introduction of Monopoly for Millennials, which features Rich Uncle Pennybags taking a selfie, holding a cafe latte and wearing earbuds and a participation medal. Instead of buying property and amassing cash, players discover destinations, ranging...

  • Ways to tame college debt

    Ways to tame college debt

    For students who borrow to attend college, the average debt at graduation is $28,500, according to the College Board. And that’s before interest that accrues over years while the loan is in repayment. If you’re a graduate overwhelmed by education debt, there are ways to make the loan burden more...

  • Consider state taxes when making a move

    Consider state taxes when making a move

    Moving to an area with a lower cost of living in retirement could make your savings last longer. But as you consider the cost of living in potential retirement destinations, don’t overlook the impact of state taxes on your bottom line. Scoping out state taxes is particularly important now because...

  • Don't be reluctant to spend in retirement

    Don't be reluctant to spend in retirement

    My recent column about learning to live without a steady paycheck in retirement struck a nerve with some readers. Jim Barthen, who retired two years ago, writes that he was “truly on edge” the first time he didn’t receive a paycheck. “It’s really an adjustment, and the statement that the spending...

  • Maximize 401(k) this year

    Maximize 401(k) this year

    Q: My New Year’s resolution is to get serious about saving for retirement through my 401(k). Any advice? A: Review your 401(k) elections to make sure you’re making the most of your plan. For example, contribution limits for 401(k)s increased by $500 this year. So if you’ve set up your contributions...

  • Preparing for nature's worst

    Preparing for nature's worst

    Q: I live near the recent wildfires in California, and fortunately my house was safe. What can I do to protect myself financially if I'm not so lucky next time? A: Most important, make sure you have enough insurance to be able to rebuild your home; many people who lost houses in wildfires in recent...

  • How couples can maximize Social Security benefits

    How couples can maximize Social Security benefits

    For married couples, claiming benefits "is a household decision, not an individual decision," says Paula McMillan, a certified financial planner in Greensboro, N.C. And under a couple of scenarios, it makes sense for one spouse (or widowed spouse) to claim benefits before full retirement age. You're...

  • When to file for Social Security

    When to file for Social Security

    Many financial planners recommend waiting until at least your full retirement age -- or, even better, until you're 70 -- to claim Social Security. You're eligible to file for Social Security as early as age 62, but if you do, your benefits will be permanently reduced by at least 25 percent. Waiting...

  • How millennials should think about retirement saving

    How millennials should think about retirement saving

    For millennials, retirement may be more of a challenge than for prior generations. They are almost certain to live longer than their parents, so their money will have to last longer and clear more hurdles along the way. For starters, no one really knows what Social Security is going to look like...

  • To improve savings plan, imagine your retirement

    To improve savings plan, imagine your retirement

    Imagine this: You’re retired and learning Italian for a trip to Rome, or you’re running along the beach as you train for your first half-marathon. Whatever your life will look like in retirement, envisioning it beforehand could spur you to save nearly one-third more than you would otherwise, says...

  • When to withdraw 529 money

    When to withdraw 529 money

    Q: My son is a freshman in college, and this is our first time using 529 money for his college bills. Do we need to withdraw money from his 529 for his 2018 tuition bills and other eligible expenses by Dec. 31, or do we have a few months afterward to withdraw the money? A: You have to withdraw...

  • Here's how 2 retirees travel a lot and get free room and board

    Here's how 2 retirees travel a lot and get free room and board

    Greg and Betsy Ball, 55-year-old retired teachers who volunteer abroad in exchange for free room and board, discuss their travels in Europe and other places. Q: Did you have a plan to do what you're doing? Betsy: Not exactly. When we retired in May 2017 as teachers at Tarleton State University...

46°