Reading Time: 2 minutesHere’s this month’s New Jersey personal finance question: is my pet going to delay my retirement? Let’s face it: they’re expensive As a New Jersey resident, I was surprised to learn that nearly half (47.4%) of households in New Jersey own a pet (Plotts, 2020). So, pet ownership has become, more or less, a pretty popular […]
Is my pet going to delay my retirement? Read More »
Reading Time: < 1 minuteHere’s this month’s New Jersey personal finance question: Do you know how your 401k is invested today? Think quick – how is your 401(k) currently invested? If you’re like most people, you have not a clue. According to a CNBC survey, 46% of 401k account owners do not know what they are invested in (Ianucci,
Do you know how your 401k is invested today? Read More »
Reading Time: 3 minutesUnder the New Jersey Small Business Retirement Marketplace Act, employers with 25 or more employees are required to provide retirement savings plans for their employees. If you are an NJ resident, you may be wondering if it makes sense to max out your 401(k) or use other vehicles.
Should you max out your 401(k), or not? Read More »
Reading Time: 2 minutesHere’s this month’s New Jersey personal finance question: Do I need to buy short-term disability insurance or is my emergency fund good enough? A short-term disability is characterized by the inability to work for a period of less than a year. It is not the same as worker’s compensation, which only covers injuries suffered from your
Should I buy short-term disability insurance or just use my emergency fund? Read More »
Reading Time: < 1 minuteHere’s this month’s New Jersey personal finance question: “I’m 35 years old. How much should I be saving?” According to the Federal Reserve, the average amount of retirement savings for someone ages 35-44 is $141,520 (2023). Saving money is hard and can be frustrating, but we caution against “doom spending,” or using small amounts of savings
“How much money should I have saved by age 35?” Read More »
Reading Time: 2 minutesHere’s this month’s New Jersey personal finance question: “What is the best age to apply for long-term care insurance? And is it worth it?” Long term care insurance: worth it? Let’s start with a definition. What is long term care insurance? Long-term care insurance pays a daily or monthly benefit to compensate you for the cost of
What’s the best age to buy long term care insurance – and is it worth it? Read More »
Reading Time: 2 minutesHere’s this month’s New Jersey personal finance question, “I’m making $100k a year and still living with my parents. Not too many bills to pay, and student debt is paid off. When do I know I have enough saved to move out and buy that New Jersey house I’ve always dreamed about?” First, consider the
