This post is sponsored by H&R Block. If you’re anything like us, you value your time outside of the day-to-day grind and hustle. You relish when you can relax and enjoy time with friends and family. Too often these days, we are continuously trying to chip away at to-do lists and make sure we keep […]
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The U.S. is facing a massive retirement crisis, with a whopping $13 trillion retirement savings shortfall.
The retirement savings crisis is even more severe for women since they face a gender-pay gap and will likely live longer.
That means women need to be saving more than men. The goal should be 8 to 10-times an annual salary.
“[That’s] what you need if you want to spend 90% of your pre-retirement levels annually. It’s a bit more than you hear at the majority of investment firms, but we want you to retire like a boss — more travel, more fun,” says Sallie Krawcheck, the CEO of women-led digital investing platform Ellevest on a new episode of MAKERS Money. “And, since we women live longer on average it’s better to have a bigger cushion. Yes, in this case, bigger is better.”
On the fourth episode of MAKERS Money, Krawcheck presents steps that women can take to increase their likelihood of having more money in retirement, including investing in a diversified portfolio and asking for a salary increase.
On the show, she’s joined by Tanya Van Court, the CEO of Goalsetter, an online saving and gifting platform to help kids save. According to Van Court, women need to put themselves in a position for a raise.
“[Women] need to have those conversations about how much they want to make, but not only how much they want to make, but what the clear expectations are that will get them to that point to be deemed successful,” says Van Court.
“I completely agree,” says Krawcheck.
Krawcheck spent nearly 30 years on Wall Street, holding high-level positions including CEO of sell-side research firm Sanford Bernstein, CEO of Smith Barney, CFO of Citigroup, and president of global wealth and investment management at Bank of America Merrill Lynch.
Last month, feminist media brand MAKERS and Yahoo Finance launched “MAKERS Money,” a weekly show hosted by Krawcheck that features advice for women from top female financial experts.
Originally appeared on Yahoo Finance!
On International Women’s Day 2017, Experian hosted a special Twitter Chat and Live Panel to discuss Woman and Money. The Tweetchat, called #CreditChat, featured Celebrity Financial Consultant, Economic Empowerment Educator, author, speaker and founder of MadamMoney.com, Tarra Jackson; and Writer for Student Loan Hero, Shannon McNay.
During the live panel discussion, the guest experts focused on how Women can #BeBoldforChange with their Money. Check out the video replay for their cool Simple Strategies for Financial Success for Women.
Experian hosts #CreditChat (Twitter chat) every Wednesday at 12:00 PM Pacific Time / 3:00 PM Eastern Time.
By Katie Bryan, America Saves Communications Director
America Saves Week, February 26 – March 3, 2018, is the perfect time to review your finances, set your savings goals for the year, and set up a system that will allow you to save automatically. That’s why the America Saves Week theme is – Set a Goal. Make a Plan. Save Automatically.
Did you know that only half of Americans report having good savings habits? Even if you are already saving, it’s good to take a look at your greater financial picture and decide whether there’s potential to save more or set a new savings goal. Join thousands of others who are pledging to pay down debt, save money, and take financial action during America Saves Week.
Not sure what to save for or what to save for next? Here are the most popular saving goals of those who have pledged to save through America Saves:
Not sure how to save for your goals? Here are some saving strategies to help:
Take the America Saves Pledge, or re-pledge, today to set your savings goal and make a plan to save. When you take the Pledge, you can also choose to receive text message tips and reminders to help you save for your goal. And don’t forget to follow America Saves on Facebook and Twitter.
America Saves Week is coordinated by America Saves and the American Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.
Why We Gave Away Our Inheritance Money When we tell people that we gave away our inheritance money, they often look at us like we are crazy. This happens despite the fact that we don’t even disclose the amount of money we declined. Yet the idea that one would turn away a large lump sum […]
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Syndicated | Create & Cultivate
If you are a business owner, check out this great information from Create & Cultivate about 13 Things You Didn’t Know You Could Write Off. Be sure to consult with your Tax Professionals for details regarding these and other tax strategies.
Tax season is officially here. Before you start panicking about getting your receipts together and setting an appointment with your tax preparer, we’re here to help ease some of the stress before you even make the call. Sure, taxes can be a drag, (or something to look forward to if you know you’re bound to get a tax refund), but if you’re like most independent contractors or freelancers, you might have to owe a hefty amount of money back to your state and the IRS.
However, there are so many things tax payers fail to claim in their yearly taxes that could definitely help ease the fees that you owe back. To help you get a tax break, we’ve listed some of the most overlooked write-off items that people fail to claim.
If you contribute to your community and help with charitable work, or give charitable donations that include out-of-pocket costs, your good deeds may be rewarded with a tax write-off. If you’ve donated food for a soup kitchen, bought clothes for a women’s shelter, or even driven your car for charity, make sure to keep those receipts as they can work as a great tax deduction.
Job hunting can be time consuming, and without realizing it, you spend money heading from interview to interview. If you’re unemployed, and you’ve spent money on transportation, printing new business cards or resumes, or have paid a hefty amount to an employment agency to help you land a job, you can definitely deduct these and other qualifying expenses this tax season.
Once you’ve moved past the job hunting phase and have landed your dream job on the other side of the town, or even the other side the country, you’ll need to move closer to your job. If you’re moving farther than 50 miles away, you can write-off your moving expenses this season, including transportation.
If you have to leave your child, who is filed as your dependent under 12 years of age, with a sitter or at a daycare while you’re at work, your child care expenses can serve as a tax credit, up to $3000.
If you are going back to school to sharpen your skills, are taking special courses for work, or have bought literature (books or magazines) that are relevant to your field of work, make sure to mark these as your “smart taxes.” Which, goes to show that any money that you spend on your education is always an investment.
Did you know you can get those annoying baggage fees right back into your pocket? Save the airline receipts from any checked baggage that you had to pay for, and mark them as a deduction when you file.
If you’re eco-savvy and have turned your house into an eco-friendly home in the past year, you can be rewarded with a great tax credit for your improvements. We know you went for paperless last year, but in this case you might want to keep those paper receipts.
If you have a financial advisor, tax preparer, or even paid to use a program like Quickbooks or Intuit to manage your finances and taxes, you can deduct those fees for the year in which you payed for them. If you still have your receipts from paying your preparer or the programs that you bought, make sure to include those in on your deductions!
If you’re a boss lady of your own and are paying your own bills, like your own healthcare, then make sure include … (continue reading 13 Things You Didn’t Know You Could Write Off by Create & Cultivate)
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