Money Management

[[{“value”:”Image source: Getty Images
Good deals are difficult to come by these days. Some stores have tried to ease shoppers’ pain by lowering prices on some items, but to find a truly great deal, you usually have to do the work yourself.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Target is one of those stores where you can certainly find good deals. The company recently cut prices on 2,000 items — from groceries to over-the-counter medication — to help shoppers battle inflation. But despite the move, there are a few things you probably shouldn’t buy at Target if you’re looking for the lowest price. Here are five of them.1. Most grocery itemsI’ve bought groceries at Target, mainly because I was already in the store, and it was convenient to pick up some needed items. But generally, it’s not the best place to do your grocery shopping if you’re sticking to a tight budget.Recent AARP research found that Aldi and Walmart were the cheapest places to buy groceries, with Target following in a distant third. A full basket of assorted groceries cost just $64.57 at Aldi, while the same items added up to $83.62 at Target.Almost everyone’s finances could use a little boost these days. Click here to see top-rated high-yield savings accounts, all of which pay at least 4.00% APY!2. A new TVTarget certainly has deals on TVs, but they aren’t as good as some other stores. I did a quick search for 43-inch TVs at Target, Best Buy, and Amazon, and the prices weren’t even close:Best Buy: 43-inch Insignia smart TV for $150Amazon: Vizio 43-inch TV for $159Target: TCL 43-inch TV for $210Some of these prices could change as we get closer to Black Friday deals, but for now, you’re probably more likely to find the best television deals at Best Buy and Amazon rather than Target. While I only listed one from each store, Amazon and Best Buy had several 43-inch TVs cheaper than Target’s cheapest option.3. Gift cardsI searched Target’s website for gift cards, and while there were many options — including Apple, Disney, and eBay — the value of all the cards was the same price as the cost. In short, no discounts.If you’ve got a membership to a discount warehouse club like Sam’s Club or Costco, you’re bound to find much better deals on gift cards. For example, a $200 Disney gift card costs just $190 at Sam’s Club and a $100 Domino’s gift card costs only $75 at Costco.If you don’t have membership to either club, you can still score good deals on gift cards at sites like Raise.com and CardBear.com.Want to earn rewards when you make purchases? Click here to see our reviews of the best cash back credit cards.4. A gas grillI like to buy things slightly used when I can. My kids hate it, but I find good deals on things, like the Weber gas grill I bought on Facebook a couple of years ago that saved me $350. But I get that some people like new grills, and in that case, Target probably isn’t your best bet for a grill.I found a Weber Genesis S-335 grill with a side burner for a far better price on Amazon than Target:Target: Genesis S-335 for $1,350Amazon: Genesis S-335 for $1,149That’s more than $200 cheaper for the same grill! Again, you can hunt down local deals for something pre-owned, but Amazon is the place to go if you want to buy new.5. Pour-over coffee makerI’m a sucker for a good cup of coffee, and one of the best ways to make it is with a pour-over coffee maker, like the Chemex six-cup glass coffee maker. Just don’t grab one off the shelf at Target, because you’ll probably overpay for it.Here how a couple of the price compared to Target’s:Chemex website: $49.50Amazon: $47.03Target: $51.31I was surprised that even the Chemex website sells this pour-over coffee maker for less than Target. Most of the time, a third-party retailer sells products for cheaper than the manufacturer’s website, but not in this case.I enjoy shopping at Target, but I know it’s not usually the cheapest option. It’s fine if you’re just picking up a few items, but if you do most of your shopping at Target and want to save as much money as possible, you should probably do some comparison shopping ahead of time.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Chris Neiger has positions in Apple. The Motley Fool has positions in and recommends Amazon, Apple, Best Buy, Costco Wholesale, Maker, Target, and Walmart. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Good deals are difficult to come by these days. Some stores have tried to ease shoppers’ pain by lowering prices on some items, but to find a truly great deal, you usually have to do the work yourself.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Target is one of those stores where you can certainly find good deals. The company recently cut prices on 2,000 items — from groceries to over-the-counter medication — to help shoppers battle inflation. But despite the move, there are a few things you probably shouldn’t buy at Target if you’re looking for the lowest price. Here are five of them.

1. Most grocery items

I’ve bought groceries at Target, mainly because I was already in the store, and it was convenient to pick up some needed items. But generally, it’s not the best place to do your grocery shopping if you’re sticking to a tight budget.

Recent AARP research found that Aldi and Walmart were the cheapest places to buy groceries, with Target following in a distant third. A full basket of assorted groceries cost just $64.57 at Aldi, while the same items added up to $83.62 at Target.

Almost everyone’s finances could use a little boost these days. Click here to see top-rated high-yield savings accounts, all of which pay at least 4.00% APY!

2. A new TV

Target certainly has deals on TVs, but they aren’t as good as some other stores. I did a quick search for 43-inch TVs at Target, Best Buy, and Amazon, and the prices weren’t even close:

Best Buy: 43-inch Insignia smart TV for $150Amazon: Vizio 43-inch TV for $159Target: TCL 43-inch TV for $210

Some of these prices could change as we get closer to Black Friday deals, but for now, you’re probably more likely to find the best television deals at Best Buy and Amazon rather than Target. While I only listed one from each store, Amazon and Best Buy had several 43-inch TVs cheaper than Target’s cheapest option.

3. Gift cards

I searched Target’s website for gift cards, and while there were many options — including Apple, Disney, and eBay — the value of all the cards was the same price as the cost. In short, no discounts.

If you’ve got a membership to a discount warehouse club like Sam’s Club or Costco, you’re bound to find much better deals on gift cards. For example, a $200 Disney gift card costs just $190 at Sam’s Club and a $100 Domino’s gift card costs only $75 at Costco.

If you don’t have membership to either club, you can still score good deals on gift cards at sites like Raise.com and CardBear.com.

Want to earn rewards when you make purchases? Click here to see our reviews of the best cash back credit cards.

4. A gas grill

I like to buy things slightly used when I can. My kids hate it, but I find good deals on things, like the Weber gas grill I bought on Facebook a couple of years ago that saved me $350. But I get that some people like new grills, and in that case, Target probably isn’t your best bet for a grill.

I found a Weber Genesis S-335 grill with a side burner for a far better price on Amazon than Target:

Target: Genesis S-335 for $1,350Amazon: Genesis S-335 for $1,149

That’s more than $200 cheaper for the same grill! Again, you can hunt down local deals for something pre-owned, but Amazon is the place to go if you want to buy new.

5. Pour-over coffee maker

I’m a sucker for a good cup of coffee, and one of the best ways to make it is with a pour-over coffee maker, like the Chemex six-cup glass coffee maker. Just don’t grab one off the shelf at Target, because you’ll probably overpay for it.

Here how a couple of the price compared to Target’s:

Chemex website: $49.50Amazon: $47.03Target: $51.31

I was surprised that even the Chemex website sells this pour-over coffee maker for less than Target. Most of the time, a third-party retailer sells products for cheaper than the manufacturer’s website, but not in this case.

I enjoy shopping at Target, but I know it’s not usually the cheapest option. It’s fine if you’re just picking up a few items, but if you do most of your shopping at Target and want to save as much money as possible, you should probably do some comparison shopping ahead of time.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Chris Neiger has positions in Apple. The Motley Fool has positions in and recommends Amazon, Apple, Best Buy, Costco Wholesale, Maker, Target, and Walmart. The Motley Fool has a disclosure policy.

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[[{“value”:”Image source: Getty Images
A basic Gold Star membership at Costco costs $65 a year. For an extra $65, or $130 in total, you can upgrade to Costco’s Executive membership and earn 2% cash back on your purchases. Top credit card to use at Costco (and everywhere else!)
We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco. Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.
Click here to read our full review for free and apply before the $200 welcome bonus offer ends!For many people, these fees are more than worth paying as they find lots of ways to save money at Costco. But that doesn’t mean a membership is right for you. Here are a few reasons to consider canceling yours this November.1. You just gave up your carDrivers can benefit from a Costco membership in a number of ways. Not only does Costco sell some of the cheapest gas in town, but tires at Costco are affordable and come with free maintenance for years. But if you’ve recently given up a car in favor of taking buses and trains to save money on transportation, then you’re missing out on these perks. Not only that, but shopping at Costco in person may no longer be feasible without a vehicle. It’s one thing to take the bus to your neighborhood supermarket and haul a bag of eggs, bread, and fruit home. It’s another thing to lug bulk quantities of food on public transportation. And while you could start shopping at Costco.com instead of going to the store, the prices on the website are typically higher than what you’ll pay in person. And sometimes, the online markups are high enough to negate the savings you’d expect out of Costco. 2. You can’t afford to spend extra during the holidaysOne pitfall of shopping at Costco is that you might fall victim to impulse purchases. That’s because the store’s inventory is huge. And with Costco’s low prices, it can be hard to say no to temptation.But if you can’t afford to spend extra during the holiday season because you have a host of additional expenses, it may be time to take Costco access off the table. The last thing you want is to have to dip into your savings account or close out the year with extra debt. 3. You joined Amazon Prime last month and found it’s a better deal for youAmazon’s October Prime Day was a big opportunity to save money. If you signed up for Amazon Prime last month to take advantage of it, you may not want to pay the $139 a year it costs on top of your Costco membership. You may also find that you’re able to get more value out of a Prime membership than a Costco membership.We just talked about the fact that Costco’s online prices tend to be higher than its in-store prices. But if you prefer to shop online, Amazon Prime might make more sense for you. Another downside of shopping at Costco is that the store tends to be perpetually crowded. If you dread the thought of going there because your local store always seems packed, why subject yourself to that torture? A Prime membership gives you free shipping on orders of any size.A Costco membership could save you a lot of money on groceries and household essentials — especially when paired with the right credit card. Click here for a list of the best credit cards for Costco. But if any of these factors apply to you, then November may be a good time to cancel your Costco membership and save yourself that money.Top credit card to use at Costco (and everywhere else!)
We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco. Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.
Click here to read our full review for free and apply before the $200 welcome bonus offer ends!We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Maurie Backman has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Costco Wholesale. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

A basic Gold Star membership at Costco costs $65 a year. For an extra $65, or $130 in total, you can upgrade to Costco’s Executive membership and earn 2% cash back on your purchases.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

For many people, these fees are more than worth paying as they find lots of ways to save money at Costco. But that doesn’t mean a membership is right for you. Here are a few reasons to consider canceling yours this November.

1. You just gave up your car

Drivers can benefit from a Costco membership in a number of ways. Not only does Costco sell some of the cheapest gas in town, but tires at Costco are affordable and come with free maintenance for years.

But if you’ve recently given up a car in favor of taking buses and trains to save money on transportation, then you’re missing out on these perks. Not only that, but shopping at Costco in person may no longer be feasible without a vehicle.

It’s one thing to take the bus to your neighborhood supermarket and haul a bag of eggs, bread, and fruit home. It’s another thing to lug bulk quantities of food on public transportation.

And while you could start shopping at Costco.com instead of going to the store, the prices on the website are typically higher than what you’ll pay in person. And sometimes, the online markups are high enough to negate the savings you’d expect out of Costco.

2. You can’t afford to spend extra during the holidays

One pitfall of shopping at Costco is that you might fall victim to impulse purchases. That’s because the store’s inventory is huge. And with Costco’s low prices, it can be hard to say no to temptation.

But if you can’t afford to spend extra during the holiday season because you have a host of additional expenses, it may be time to take Costco access off the table. The last thing you want is to have to dip into your savings account or close out the year with extra debt.

3. You joined Amazon Prime last month and found it’s a better deal for you

Amazon’s October Prime Day was a big opportunity to save money. If you signed up for Amazon Prime last month to take advantage of it, you may not want to pay the $139 a year it costs on top of your Costco membership. You may also find that you’re able to get more value out of a Prime membership than a Costco membership.

We just talked about the fact that Costco’s online prices tend to be higher than its in-store prices. But if you prefer to shop online, Amazon Prime might make more sense for you.

Another downside of shopping at Costco is that the store tends to be perpetually crowded. If you dread the thought of going there because your local store always seems packed, why subject yourself to that torture? A Prime membership gives you free shipping on orders of any size.

A Costco membership could save you a lot of money on groceries and household essentials — especially when paired with the right credit card. Click here for a list of the best credit cards for Costco. But if any of these factors apply to you, then November may be a good time to cancel your Costco membership and save yourself that money.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Maurie Backman has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Costco Wholesale. The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: The Motley Fool/Upsplash
Since CD rates have been super high this year, a lot of people have opened CDs to take advantage. And even as CD rates start to fall, they can still be a good place to put your money under the right circumstances.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Unlike a savings account, CDs guarantee you a certain return on your deposit. If you’re trying to meet a specific goal, knowing exactly how much interest you stand to earn is helpful.But you should also know that CDs may not be as wonderful as you might think they are. In fact, in the long run, CDs are far from the best place to put your money.The problem with CDsCDs have two main problems you should know about. And one is a much larger issue than the other.First, if you withdraw your money from a CD before it matures, you’ll generally be hit with a penalty from your bank. If you had your money in a savings account instead, you can withdraw money whenever you want.But the even bigger issue with CDs is that over time, the returns you get might pale in comparison to a stock portfolio. And that could spell the difference between meeting your long-term financial goals or falling short.Over the past 50 years, the S&P 500’s average annual return has been 10%. That accounts for years when stock prices soared and years when the market did poorly.Meanwhile, the best CD rates we’ve seen in decades have been recent rates around 5%. But that’s clearly nowhere close to 10% on your money. And those 5% rates are also far from the norm. So over time, choosing CDs could come back to bite you.Think about how much you stand to loseLet’s run some numbers to show what sticking with CDs over the long run might do for your finances vs. investing in stocks. Imagine you have $10,000 to invest over the next 30 years.If you put it into a stock portfolio that gives you a 10% annual return, you’ll end up with about $175,000.If you put it into a series of CDs that pay you 3% a year (which is a more realistic and even somewhat generous estimate), you’ll end up with about $24,000.All told, putting money into CDs could cost you $150,000 over the long run. If you’d rather set yourself up with higher returns, click here to learn about the best brokerage accounts and start investing your money today.Of course, if you’re only looking to park your cash on a short-term basis, then a CD is a better bet. To be successful as a stock market investor, you need to give yourself many years to ride out market fluctuations.If you have cash earmarked for a goal that’s a year or two away, open a CD at an FDIC-insured bank so your deposit is protected from losses and you’re able to earn more interest than what a savings account will pay. But for far-off goals, stock investing is a better bet. And if you stick to CDs, you may find that it stunts your financial growth in a very dangerous way.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Since CD rates have been super high this year, a lot of people have opened CDs to take advantage. And even as CD rates start to fall, they can still be a good place to put your money under the right circumstances.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Unlike a savings account, CDs guarantee you a certain return on your deposit. If you’re trying to meet a specific goal, knowing exactly how much interest you stand to earn is helpful.

But you should also know that CDs may not be as wonderful as you might think they are. In fact, in the long run, CDs are far from the best place to put your money.

The problem with CDs

CDs have two main problems you should know about. And one is a much larger issue than the other.

First, if you withdraw your money from a CD before it matures, you’ll generally be hit with a penalty from your bank. If you had your money in a savings account instead, you can withdraw money whenever you want.

But the even bigger issue with CDs is that over time, the returns you get might pale in comparison to a stock portfolio. And that could spell the difference between meeting your long-term financial goals or falling short.

Over the past 50 years, the S&P 500’s average annual return has been 10%. That accounts for years when stock prices soared and years when the market did poorly.

Meanwhile, the best CD rates we’ve seen in decades have been recent rates around 5%. But that’s clearly nowhere close to 10% on your money. And those 5% rates are also far from the norm. So over time, choosing CDs could come back to bite you.

Think about how much you stand to lose

Let’s run some numbers to show what sticking with CDs over the long run might do for your finances vs. investing in stocks. Imagine you have $10,000 to invest over the next 30 years.

If you put it into a stock portfolio that gives you a 10% annual return, you’ll end up with about $175,000.If you put it into a series of CDs that pay you 3% a year (which is a more realistic and even somewhat generous estimate), you’ll end up with about $24,000.

All told, putting money into CDs could cost you $150,000 over the long run. If you’d rather set yourself up with higher returns, click here to learn about the best brokerage accounts and start investing your money today.

Of course, if you’re only looking to park your cash on a short-term basis, then a CD is a better bet. To be successful as a stock market investor, you need to give yourself many years to ride out market fluctuations.

If you have cash earmarked for a goal that’s a year or two away, open a CD at an FDIC-insured bank so your deposit is protected from losses and you’re able to earn more interest than what a savings account will pay. But for far-off goals, stock investing is a better bet. And if you stick to CDs, you may find that it stunts your financial growth in a very dangerous way.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: The Motley Fool/Upsplash
A lot of people don’t end up having tons of retirement savings by age 40. They often spend much of their 20s paying off student debt and credit cards, and a fair amount of their 30s saving for a home. The median retirement savings balance among people aged 40 is only $45,000, according to the Federal Reserve.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. If you’re 40 and have nothing saved for retirement, you’re probably aware that’s not ideal. But it’s also by no means a hopeless situation. Here’s what to do if you’ve found yourself in catch-up mode.1. Find the right retirement accountThe first hurdle to overcome on the road to building retirement savings is finding a home for your money. You can see if your company offers a 401(k) plan and then sign up. The benefit there is that you may be entitled to a 401(k) match, which means you’ll get free money from your employer for making contributions out of your own paycheck.Plus, 401(k)s are funded automatically by taking the money out of your paychecks. That’s a great way to make sure you’re keeping your commitment to retirement savings.But if you don’t have access to a 401(k) plan, don’t stress. Not every company offers one, and if you’re self-employed, you won’t have access to employer benefits anyway.But you can open an IRA, or individual retirement account, at any financial institution that offers one. And you might enjoy lower fees with an IRA than a 401(k). Click here for a list of the best IRAs you can open today.2. Prioritize savings in your budgetOnce you’ve opened a retirement account, take a look at your expenses and set up a budget that makes room for contributions. You can start off with just $50 a month if that’s all that works for the time being. But it’s important to get started right away.From there, set up automatic contributions to your IRA if that’s the account you’re saving in. You can increase those contributions over time, but make sure some amount of money starts going into that account immediately.3. Figure out where the money for your retirement account will come fromYou may need to consider some changes to your spending and earnings if you want to ramp up your retirement plan contributions. One great option is to pick up a side hustle. This way, you won’t need to cut back on spending.But if working a second job doesn’t fit into your schedule, or it’s just not something you want to do, you can instead look to reduce your spending in a meaningful way. You probably want to reach the point where you’re contributing a few hundred dollars a month to your retirement plan if you’re 40 with no savings. This gives you a chance at retiring with a decent sum of money.4. Invest your money to make up for lost timeIf you’re 40 years old, you may still have another 25 years of work ahead of you. If you contribute $250 a month, or $3,000 a year, to an IRA or 401(k) during that time, you’ll end up with $75,000 in savings based on your direct contributions alone. But in reality, your retirement plan balance could be much larger if you invest your money in stocks.Over the past 50 years, the stock market’s average annual return (as represented by the S&P 500) has been 10%, accounting for years of strong gains and years when stocks did very poorly. If you’re able to snag that same yearly return in your retirement account, then after 25 years of contributing $250 a month, you’re looking at a total savings balance of about $295,000. That’s more than the median $200,000 retirement savings balance 65-year-olds have today, per the Federal Reserve.You may be ready to panic if you’ve reached your 40th birthday with no retirement savings whatsoever. But you’re actually not in as bad a situation as you might think. And if you start making changes quickly, you can turn things around in a meaningful way.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

A lot of people don’t end up having tons of retirement savings by age 40. They often spend much of their 20s paying off student debt and credit cards, and a fair amount of their 30s saving for a home. The median retirement savings balance among people aged 40 is only $45,000, according to the Federal Reserve.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

If you’re 40 and have nothing saved for retirement, you’re probably aware that’s not ideal. But it’s also by no means a hopeless situation. Here’s what to do if you’ve found yourself in catch-up mode.

1. Find the right retirement account

The first hurdle to overcome on the road to building retirement savings is finding a home for your money. You can see if your company offers a 401(k) plan and then sign up. The benefit there is that you may be entitled to a 401(k) match, which means you’ll get free money from your employer for making contributions out of your own paycheck.

Plus, 401(k)s are funded automatically by taking the money out of your paychecks. That’s a great way to make sure you’re keeping your commitment to retirement savings.

But if you don’t have access to a 401(k) plan, don’t stress. Not every company offers one, and if you’re self-employed, you won’t have access to employer benefits anyway.

But you can open an IRA, or individual retirement account, at any financial institution that offers one. And you might enjoy lower fees with an IRA than a 401(k). Click here for a list of the best IRAs you can open today.

2. Prioritize savings in your budget

Once you’ve opened a retirement account, take a look at your expenses and set up a budget that makes room for contributions. You can start off with just $50 a month if that’s all that works for the time being. But it’s important to get started right away.

From there, set up automatic contributions to your IRA if that’s the account you’re saving in. You can increase those contributions over time, but make sure some amount of money starts going into that account immediately.

3. Figure out where the money for your retirement account will come from

You may need to consider some changes to your spending and earnings if you want to ramp up your retirement plan contributions. One great option is to pick up a side hustle. This way, you won’t need to cut back on spending.

But if working a second job doesn’t fit into your schedule, or it’s just not something you want to do, you can instead look to reduce your spending in a meaningful way. You probably want to reach the point where you’re contributing a few hundred dollars a month to your retirement plan if you’re 40 with no savings. This gives you a chance at retiring with a decent sum of money.

4. Invest your money to make up for lost time

If you’re 40 years old, you may still have another 25 years of work ahead of you. If you contribute $250 a month, or $3,000 a year, to an IRA or 401(k) during that time, you’ll end up with $75,000 in savings based on your direct contributions alone. But in reality, your retirement plan balance could be much larger if you invest your money in stocks.

Over the past 50 years, the stock market’s average annual return (as represented by the S&P 500) has been 10%, accounting for years of strong gains and years when stocks did very poorly. If you’re able to snag that same yearly return in your retirement account, then after 25 years of contributing $250 a month, you’re looking at a total savings balance of about $295,000. That’s more than the median $200,000 retirement savings balance 65-year-olds have today, per the Federal Reserve.

You may be ready to panic if you’ve reached your 40th birthday with no retirement savings whatsoever. But you’re actually not in as bad a situation as you might think. And if you start making changes quickly, you can turn things around in a meaningful way.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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When I first joined Costco about 18 years ago, I decided a basic membership made the most sense for my household. Back then, it was just me, my husband, and a small dog, and we didn’t need to shop at Costco more than once a month to load up on cleaning supplies and non-perishables. It didn’t make sense to buy groceries in bulk from Costco because we wouldn’t use them up in time and get our money’s worth.Top credit card to use at Costco (and everywhere else!)
We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco. Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.
Click here to read our full review for free and apply before the $200 welcome bonus offer ends!But at some point after having kids, I made the decision to upgrade to an Executive membership at Costco. And I’ve paid for the higher-cost membership ever since.It’s that decision, though, that’s allowed me to get my Costco membership for free. And the same trick could work for you, too.Spending enough to get your Executive membership paid forCostco’s Executive membership costs double what a basic membership costs — $130 a year, versus $65. But there’s a big perk associated with the Executive membership — 2% cash back on your Costco purchases.To be clear, you won’t get 2% back on everything at Costco. Gas station fill-ups aren’t eligible for that cash back, and neither are food court purchases.But in addition to in-store purchases like groceries, paper products, apparel, and electronics, travel packages booked through Costco are eligible for 2% back on an Executive membership. The same applies to furniture and other big-ticket items that could really add up.When you do the math, you’ll see that it takes $6,500 in annual spending at Costco to earn $130 back from an Executive membership. But for me, that number isn’t so hard to get to.I shop at Costco almost every week during the year and commonly spend between $100 and $150 per trip. If we average that to $125 and multiply it by 50 weeks during the year, we get to $6,250.From there, all it takes is a few one-off purchases to spend another $250 over the course of a year. And since I commonly turn to Costco for things like kids’ clothing and holiday gifts, I can easily earn $130 in cash back, thereby getting my membership for free.Do you spend enough at Costco to score a free membership?You shouldn’t specifically spend more money at Costco for the sole purpose of getting your membership for free. If you’d normally only spend $5,000 a year, it doesn’t make sense to intentionally spend an extra $1,500 to get your $130 membership fee returned to you in the form of cash back.But it does make sense to crunch the numbers and make sure you’re paying for the right membership to begin with. If you spend more than $3,250 a year at Costco, then an Executive membership absolutely pays off, even if you don’t earn enough cash back to get that membership for free. That’s because 2% of $3,250 is $65, which is the cost of upgrading from a basic Costco membership to the Executive one.And you may find that if you shop at Costco as often as I do, that you’re able to earn enough cash back to recoup your entire $130 outlay. Or, you may find that you’re able to spend $6,500 a year by doing a big stock-up at Costco once a month, but also booking a family vacation you earn 2% back on.Even if you don’t manage to score a free Costco membership, it’s not the end of the world to pay that fee for the savings it might give you through the year. And if you want to maximize your savings at Costco, be sure to use the right credit card for your purchases.Click here for a list of the best credit cards for Costco shoppers. These could put more money in your pocket whether you have an Executive membership or decide to stick with a basic one.Top credit card to use at Costco (and everywhere else!)
We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco. Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.
Click here to read our full review for free and apply before the $200 welcome bonus offer ends!We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

When I first joined Costco about 18 years ago, I decided a basic membership made the most sense for my household. Back then, it was just me, my husband, and a small dog, and we didn’t need to shop at Costco more than once a month to load up on cleaning supplies and non-perishables. It didn’t make sense to buy groceries in bulk from Costco because we wouldn’t use them up in time and get our money’s worth.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

But at some point after having kids, I made the decision to upgrade to an Executive membership at Costco. And I’ve paid for the higher-cost membership ever since.

It’s that decision, though, that’s allowed me to get my Costco membership for free. And the same trick could work for you, too.

Spending enough to get your Executive membership paid for

Costco’s Executive membership costs double what a basic membership costs — $130 a year, versus $65. But there’s a big perk associated with the Executive membership — 2% cash back on your Costco purchases.

To be clear, you won’t get 2% back on everything at Costco. Gas station fill-ups aren’t eligible for that cash back, and neither are food court purchases.

But in addition to in-store purchases like groceries, paper products, apparel, and electronics, travel packages booked through Costco are eligible for 2% back on an Executive membership. The same applies to furniture and other big-ticket items that could really add up.

When you do the math, you’ll see that it takes $6,500 in annual spending at Costco to earn $130 back from an Executive membership. But for me, that number isn’t so hard to get to.

I shop at Costco almost every week during the year and commonly spend between $100 and $150 per trip. If we average that to $125 and multiply it by 50 weeks during the year, we get to $6,250.

From there, all it takes is a few one-off purchases to spend another $250 over the course of a year. And since I commonly turn to Costco for things like kids’ clothing and holiday gifts, I can easily earn $130 in cash back, thereby getting my membership for free.

Do you spend enough at Costco to score a free membership?

You shouldn’t specifically spend more money at Costco for the sole purpose of getting your membership for free. If you’d normally only spend $5,000 a year, it doesn’t make sense to intentionally spend an extra $1,500 to get your $130 membership fee returned to you in the form of cash back.

But it does make sense to crunch the numbers and make sure you’re paying for the right membership to begin with. If you spend more than $3,250 a year at Costco, then an Executive membership absolutely pays off, even if you don’t earn enough cash back to get that membership for free. That’s because 2% of $3,250 is $65, which is the cost of upgrading from a basic Costco membership to the Executive one.

And you may find that if you shop at Costco as often as I do, that you’re able to earn enough cash back to recoup your entire $130 outlay. Or, you may find that you’re able to spend $6,500 a year by doing a big stock-up at Costco once a month, but also booking a family vacation you earn 2% back on.

Even if you don’t manage to score a free Costco membership, it’s not the end of the world to pay that fee for the savings it might give you through the year. And if you want to maximize your savings at Costco, be sure to use the right credit card for your purchases.

Click here for a list of the best credit cards for Costco shoppers. These could put more money in your pocket whether you have an Executive membership or decide to stick with a basic one.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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[[{“value”:”Image source: The Motley Fool/Upsplash
Last year, the Federal Reserve reported that as of 2022, 37% of Americans could not cover a $400 emergency expense by tapping their savings. When I read that, I was disturbed but not shocked. I can’t tell you how many people I know personally who have no choice but to whip out a credit card every time an unplanned expense arises. So if you have a pretty large savings account balance, you’re clearly in better shape.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. But it may surprise you to hear that having too much money in savings can be a bad thing as well. And if your savings account balance has reached or surpassed the $20,000 mark, it may be time to rethink your strategy.The problem with having too much money in savingsIt’s definitely a good thing to have more than $20,000 to your name. But whether you should have that much money in a savings account is a different story.There are plenty of savings accounts that are paying somewhere in the ballpark of 4%. And if yours is paying less, click here for a list of the top high-yield savings accounts today and consider a switch.But you should know that over the past 50 years, the S&P 500’s average annual return has been 10%, accounting for years when stock values soared and years when they tanked. That’s much higher than the 4% you might get from a savings account today.And also, remember that 4% savings account rates aren’t even the norm. You might manage to get 4% from a savings account for a bit longer. But as the Fed continues to lower its benchmark interest rate, which is expected to happen more in the coming year, savings accounts will likely start paying less and less.For this reason, you should only keep money in a savings account you need for emergencies or short-term goals. If that means you need a $20,000 balance (or more), so be it.But if your savings account is overfunded, click here to review our list of the best brokerage accounts and move your extra money into a stock portfolio so it’s able to grow at a more impressive rate.How much savings do you actually need?A general rule of thumb for an emergency fund is to have enough money in savings to cover three to six months of essential bills. So if your basic expenses come to $5,000 a month, then $20,000 (or more) may be an appropriate amount of money to keep in a savings account. It could, conceivably, take several months to find a job after losing one, so that protection is very helpful.But if your essential bills come to $2,500 a month, even a six-month emergency fund only requires $15,000. If you don’t have another short-term goal you’re saving for, and you have $20,000 or a bit more in savings, moving your remaining funds into a brokerage account or IRA for your retirement could be a very smart move.Say you have $5,000 in your savings account beyond what you need for emergencies or short-term goals. If you earn 2.5% a year over the next 20 years, that grows your $5,000 into about $8,200. (And yes, there’s a good chance savings account rates will drop to 2.5% by next year.)But even if you only earn an 8% yearly return in your brokerage account, which is a bit below the stock market’s average, in 20 years, your $5,000 could be worth about $23,300. That’s about a $15,000 difference.You might think you’re in awesome shape by having a savings account balance of above $20,000. In reality, you may be stunting your money’s growth by keeping it in the bank rather than investing it. Assess your emergency fund needs and near-term goals ASAP if you have a large savings balance, so you don’t lose out on higher returns elsewhere.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Last year, the Federal Reserve reported that as of 2022, 37% of Americans could not cover a $400 emergency expense by tapping their savings. When I read that, I was disturbed but not shocked. I can’t tell you how many people I know personally who have no choice but to whip out a credit card every time an unplanned expense arises. So if you have a pretty large savings account balance, you’re clearly in better shape.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

But it may surprise you to hear that having too much money in savings can be a bad thing as well. And if your savings account balance has reached or surpassed the $20,000 mark, it may be time to rethink your strategy.

The problem with having too much money in savings

It’s definitely a good thing to have more than $20,000 to your name. But whether you should have that much money in a savings account is a different story.

There are plenty of savings accounts that are paying somewhere in the ballpark of 4%. And if yours is paying less, click here for a list of the top high-yield savings accounts today and consider a switch.

But you should know that over the past 50 years, the S&P 500’s average annual return has been 10%, accounting for years when stock values soared and years when they tanked. That’s much higher than the 4% you might get from a savings account today.

And also, remember that 4% savings account rates aren’t even the norm. You might manage to get 4% from a savings account for a bit longer. But as the Fed continues to lower its benchmark interest rate, which is expected to happen more in the coming year, savings accounts will likely start paying less and less.

For this reason, you should only keep money in a savings account you need for emergencies or short-term goals. If that means you need a $20,000 balance (or more), so be it.

But if your savings account is overfunded, click here to review our list of the best brokerage accounts and move your extra money into a stock portfolio so it’s able to grow at a more impressive rate.

How much savings do you actually need?

A general rule of thumb for an emergency fund is to have enough money in savings to cover three to six months of essential bills. So if your basic expenses come to $5,000 a month, then $20,000 (or more) may be an appropriate amount of money to keep in a savings account. It could, conceivably, take several months to find a job after losing one, so that protection is very helpful.

But if your essential bills come to $2,500 a month, even a six-month emergency fund only requires $15,000. If you don’t have another short-term goal you’re saving for, and you have $20,000 or a bit more in savings, moving your remaining funds into a brokerage account or IRA for your retirement could be a very smart move.

Say you have $5,000 in your savings account beyond what you need for emergencies or short-term goals. If you earn 2.5% a year over the next 20 years, that grows your $5,000 into about $8,200. (And yes, there’s a good chance savings account rates will drop to 2.5% by next year.)

But even if you only earn an 8% yearly return in your brokerage account, which is a bit below the stock market’s average, in 20 years, your $5,000 could be worth about $23,300. That’s about a $15,000 difference.

You might think you’re in awesome shape by having a savings account balance of above $20,000. In reality, you may be stunting your money’s growth by keeping it in the bank rather than investing it. Assess your emergency fund needs and near-term goals ASAP if you have a large savings balance, so you don’t lose out on higher returns elsewhere.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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