In the world of investing, there are few phrases as exhilarating as "bull market". These words conjure images of an economy burgeoning with opportunity, a period when stock prices are on a steady upward trend, promising lucrative returns to those invested. And yet, an intriguing anomaly persists: many investors remain decidedly pessimistic, even in the midst of a bull market.
As Americans grapple with the challenges of dwindling purchasing power, credit cards have become a popular way to bridge the financial gap. However, this has led to a startling surge in credit card debt, with the Federal Reserve Bank of New York reporting a record $988 billion in outstanding balances, an increase of 17% from the previous year. Each American, on average, now owes around $5,700 in credit card debt.
Life insurance is a great addition to your portfolio that can help protect your loved ones and beneficiaries if you unexpectedly pass away. While no amount of money can ease the grief of losing someone, life insurance may help reduce the financial burden they may face. It's important to know how life insurance works and what to consider when purchasing life insurance so you can make an informed decision before you buy.
A recent survey by Caring.com found that a whopping two in three American adults do not have an estate plan1—an alarming statistic, considering that an estate plan can protect your assets and ensure that they go to the right people. If you have not begun to prepare an estate plan, or if your estate planning efforts have stalled, what can you do to get back on track? Here are seven crucial steps to take when planning your estate.
Despite the challenging market conditions, 401(k) balances often fare better than IRAs, providing a little more hope for retirement investors. Here are 5 reasons why:
Diversification — not putting all your eggs in one basket — is one of the most cherished principles of investing. That's one reason why mutual funds have become a popular choice for many investors' workplace retirement accounts. They're an easy way to invest in many different securities at once, and to do so at a lower cost than you might be able to achieve on your own. Though diversification alone can't guarantee a profit or prevent the possibility of loss, it can help minimize how much your portfolio is affected by the problems of a single company or borrower.
