Some people wait until their thirties or forties to start saving for retirement. If that's the case for you, Hamm writes, it's time to start saving for retirement immediately.
A person with no dependents surely has a different financial strategy than a husband with three children. Hamm analyzes the differing rationales behind the financial decisions of a single man and a father.
Who benefits from tax subsidies for municipal bonds? It's not as obvious as you think. High-income investors benefit, yes, but depending on what state and local government do with the subsidies, there may also be benefits for low-tax brackets.
Some workers won't sign up for a company-sponsored 401(k) because they don't understand it, or they're afraid of taking home less pay. That's a huge mistake.
If you're in a marriage or a long-term relationship, financial improvement won't happen unless both partners are committed to it.
A mutual fund is a big collection of different investments, and it can be a good way to diversify your holdings. But there are some drawbacks.
Technically, your net worth is what you would have in cash if you sold every significant possession and paid off all of your debts. But for the author, a net worth is mostly useful as a way to gauge many different kinds of personal finance progress all at once.
A Roth IRA is a valuable tool for retirement savings, Hamm writes, so it’s well worth spelling out what it is in the clearest terms possible.