Retirement
from24/7 Wall St.
2 days agoBoomers' Hidden Financial Risks: What You Haven't Prepared For
The emotional toll of life events can severely impact financial preparedness for retirement.
Despite being raised in a financially literate household, I found myself in credit card debt due to emotional spending, highlighting the importance of a healthy money mindset.
"Simply put, Ramsey is strongly against cashing out IRA funds, which would subject him to a 10% penalty plus taxes at his regular income rate... That's a lot of money going to taxes and fees."
In fact, leading divorce attorneys often cite money disagreements as the second most common cause of divorce, right after infidelity. How you and your partner handle money is a clear reflection of how you handle challenges together.