Mutual funds are popular investment opportunities: They are a way for investors to pool money to invest in specific assets, from stocks and bonds to other investments. Mutual funds allow the average investor opportunity to diversify their investments while accessing global markets.

Are you feeling the gnawing pain of financial anxiety? You’re not alone. A majority of Americans (59 percent) report that they live paycheck to paycheck.

While many individuals see credit as an essential part of personal finance, some avoid credit cards and loans altogether. Although avoiding debt is admirable, building credit is critical for various significant purchases and life events. Building credit responsibly is an excellent way to ease the path towards homeownership, financial stability, and more. Here are three reasons why you should care about building credit.

When you retire, how much of your retirement savings can you withdraw each year without running out? One of the general guidelines is the 4 percent rule, but it’s important that you treat it as just that: a guideline.

Becoming financially stable is a process that takes hard work and persistence; nobody goes from drowning in debt to the picture of financial health overnight. Like the formation of any other good habit, it takes daily commitment and continual learning to master finances. While individuals may have a variety of unique goals, there are a few strategies that almost anyone can use to improve their financial health. Master finances by making your financial health a priority and incorporating these four habits into your daily routine. 

Surveys indicate that many Americans lack basic financial literacy. Yet, simple money-management skills can help prevent a person from getting themselves into financial trouble and help them lead a better life in general. This article covers a few basic money-management concepts. Insurance and financial services professionals, such as a NAIFA members, can give you much more information and help develop strategies to boost financial literacy and get your money management on the right track.

Establishing An Emergency Fund 

The very first thing that anyone should do if they want to insulate themselves from potential financial harm is create an emergency fund. The amount to set aside for emergencies varies based on individual circumstances, but most experts recommend between $500 and $1,000 to get started. For many, that is enough money to help allay an unexpected expense. No matter who you are, a vehicle can break down, an unexpected medical expense can arise, or any number of other unexpected expenses may come about and cause problems for someone who does not have the shelter of an emergency fund. As your finances grow more complex, a larger emergency fund may be appropriate. 

“Tax planning” is a phrase many people associate with large corporations, the rich and powerful, or super-humanly organized accountant types.

As people get older, many must begin to rely more upon their children for care and support. Even the most independent retirees often chat with their kids to discuss finances, medical concerns, and housing plans for their golden years. Some people wait until they experience an accident or health scare to share their plans with loved ones, while others put off these conversations until it is too late. People with aging parents (or retirees with adult children) should be proactive about discussing these difficult topics and life decisions. If you are an adult with aging parents, consider sitting down with them to discuss retirement planning, estate planning, and their wishes regarding housing and end-of-life care. 

As people enter their thirties, they can find themselves facing a variety of significant life events. Planning for these experiences is critical, and folks in their thirties should take the time to create a list of goals for their financial future. Thirtysomethings run the gamut from new professionals starting their first office job to high-tier executives making six figures, and every person’s financial planning goals will be different. Whether you are just embarking on the search for your own place or you’re getting ready to have your third kid, consider these financial planning goals for folks in their thirties.

Setting money aside on a regular basis is not an easy task for most consumers. But the uncertainties brought on by COVID-19 have underscored the need for all of us to renew our efforts on building up our savings, which can serve as an emergency fund for a rainy day. The beginning of the year is as good a time as any to start or enhance your savings program.