Frequently asked questions
2,096 answers to the financial planning questions we hear most often, in plain English. Filter by topic below, or use the search in the top menu to jump to one.
Showing 1–24 of 103 in General Financial Wellness
What are the most important financial moves to make in your 20s?
The financial decisions made in your 20s have outsized lifetime impact due to compounding. In rough order of priority: (1) Build a $1,000 starter emergency fund. (2) Contribute at least enough to your…What are the most important financial moves to make in your 30s?
Your 30s are typically peak earning-growth years with increasing financial complexity. Key priorities: (1) Maximize 401(k) contributions — or at least increase them to 15% of gross income including th…What financial accounts should everyone have and in what order should I open them?
A well-structured financial account system, in priority order: (1) Checking account — for everyday transactions. (2) High-yield savings account (HYSA) — for emergency fund and short-term goals; curren…How do I know if I am on track financially?
Several benchmarks can give you a quick read. Savings rate: aiming for 15–20% of gross income toward retirement (including employer contributions) keeps most people on track for traditional retirement…What are the most important financial moves to make in your 40s?
Your 40s are peak-earning, peak-responsibility years, so the goal is to convert higher income into durable net worth. Push retirement savings toward 15–20% of gross pay and aim to max your 401(k) ($23…What financial moves matter most in your 50s?
In your 50s, the priorities shift to catching up and de-risking. At 50 you unlock catch-up contributions: an extra $7,500 in your 401(k) (total $31,000 in 2025) and an extra $1,000 in an IRA. Use them…What should I focus on financially in my 60s?
Your 60s are the transition decade, so focus on sequencing and protection. Decide when to claim Social Security — every year you delay past full retirement age (66–67) adds about 8% to your benefit up…What are the key financial moves in the first few years of retirement?
The early retirement years set the tone for everything after, so protect against sequence-of-returns risk — the danger of big losses while you're withdrawing. Keep a cash cushion of one to three years…What is the financial order of operations, the flowchart people refer to?
The financial order of operations is a priority list that tells you where each dollar should go first, so you're not guessing. A common version: (1) cover basic living expenses; (2) capture any 401(k)…How do I track my net worth, and how often should I check it?
Track your net worth by adding up everything you own (cash, investments, retirement accounts, home value, vehicles) and subtracting everything you owe (mortgage, student loans, credit cards, car loans…What are good net-worth-by-age benchmarks to aim for?
Benchmarks are rough guides, not verdicts, but they help you sanity-check progress. One widely cited rule of thumb targets net worth equal to your annual salary by 30, three times salary by 40, six ti…Is there a financial milestones checklist I can follow by life stage?
Yes — thinking in milestones keeps you from missing big moves. In your 20s: open a Roth IRA, capture your 401(k) match, build an emergency fund, and avoid lifestyle creep. In your 30s: increase saving…How should my partner and I talk about money without fighting?
Start by treating money talks as a recurring habit, not a one-time confrontation. Schedule a short, low-stakes "money date" — monthly works — to review spending, goals, and any worries before they fes…Should we consider a prenup, and what does one actually cover?
A prenuptial agreement is a contract signed before marriage that defines how assets, debts, and income are treated if the marriage ends or one spouse dies. It's worth considering if either of you brin…How do I teach kids about money at different ages?
Match the lesson to the age and let them practice with real, small stakes. Ages 3–6: money is for buying things, and choices have trade-offs — use a clear jar so they see savings grow. Ages 7–12: intr…How do I set up my finances correctly at my first job?
Your first job is the best time to build systems you'll keep for decades. First, enroll in the 401(k) and contribute at least enough to capture the full employer match — skipping it leaves free money…What should an annual financial review or checkup include?
An annual checkup is a once-a-year sweep to catch drift before it becomes a problem. Cover the essentials: update your net worth and compare it to last year; check that you're on pace for retirement a…How do my spouse and I combine our finances after getting married?
There's no single right way, but the strongest approach starts with full transparency. Share income, debts, credit scores, and goals so you're planning from the same facts. Then pick a system: fully j…What financial steps should I take after a divorce?
After a divorce, rebuild your financial life around your name alone. Separate all joint accounts and close shared credit cards so you're not liable for an ex-spouse's spending, and pull your credit re…What financial steps should I take after a death in the family?
Take it in stages — nothing urgent needs deciding in the first weeks. Start by gathering documents: the death certificate (order 10+ copies), the will, account statements, and insurance policies. Noti…
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