Americans today are living their lives differently than previous generations. According to a Pew Research Center analysis from 2021, more adults than ever before are living single, with a partner, or raising their kids outside of marriage. In general, people are getting married later—or not at all.

Equal pay for men and women has been the law since 1963. Yet, well into the next century, women with similar education, skills, and experience are still paid less than their male counterparts. So, what is the wage gap between men and women?

Retirement planning is crucial for everyone, but it introduces particular challenges for women. With longer life expectancies, as well as reduced earning potential due to the gender pay gap and other factors, women face a unique set of obstacles in preparing for retirement compared to men.

Sometimes, it might feel like you're just scraping by financially. But every once in a while, you may receive a windfall of cash. Whether from your tax refund, a work bonus, an inheritance, or just accrued over time, smart financial consideration and a little planning can help you figure out how to put that cash to work.

Along with investment market volatility, high inflation has recently been a persistent concern for investors. In March 2023, The Federal Reserve added fuel to that fire by signaling its readiness to ramp up interest rates in response to a string of red-hot economic reports.

Financial planning is all about living the life you want to live. A comfortable retirement might be your ultimate goal, but what does that look like for you? Beyond that, how do you expect to get there?

Financial planning is all about living the life you want to live. A comfortable retirement might be your ultimate goal, but what exactly does that look like for you? Beyond that, how do you plan to get there?

Whether you're a young individual just starting a career path or a well-seasoned professional nearing retirement, developing a savvy tax strategy today can save you from some painful surprises down the road in retirement. But becoming tax savvy is easier said than done, mainly because what you see in your account balance is not always what you get. Traditional Roth IRAs, and other tax-deferred accounts, are a great example of this.

Saving when you’re young can have major benefits for your overall financial plan. As shown in Figure 1 below, starting at age 25, if you save just $381 every month, you’ll reach $1 million by the time you turn 65, assuming a hypothetical 7% compounded rate of return. But the longer you wait to save, the more you need to put away every month to reach that same goal.Figure 1. Monthly Savings to Reach $1 Million by Age 65

Saving for retirement can feel like an overwhelming task. How much do you need to save? How much can you really afford to put away and still live the life you deserve today? How does anyone make it work?