Money Advice

When Rick Parks and his wife Cindy got married a couple of years ago, the Knoxville couple shared a lot of things together: A home, family trips and holiday gatherings.

One thing they did not share: a financial planner.

They each had their own careers, retirement savings and financial planners—his with Charles Schwab, hers with Primerica, and they were happy with them.

"We have different investing styles—I'm more aggressive, Cindy is more conservative," says Rick Parks, 53, owner of two automotive repair businesses. "We were both in good financial positions, and just felt comfortable with our own planners."

The way retirement is supposed to go is that you scrimp and save for decades while you are working, and then you get to enjoy years of luxurious, worry-free leisure.

But here is a little tip: Fun does not just happen. You have to budget for it.

According to new data from Merrill Lynch and Age Wave, 77 percent of retirees have hardly planned at all for their first five years of leisure activities. Two-thirds of those surveyed for the "Leisure in Retirement: Beyond the Bucket List" report have not budgeted for any travel.

CHICAGO (REUTERS) - Denial is not just a river in Africa. It also is a powerful driver of how Americans think about their prospects for a secure retirement.

A new survey of retirement confidence published in March 2016 confirms that many workers lack realistic plans for making ends meet in retirement. It also suggests there is a disconnect between Americans' confidence about retirement and their actual preparations to ensure a comfortable one.

Chances are that you’ve heard about criminals buying or selling stolen personal information on the dark web. That’s not news, but did you know that the items listed go far beyond credit cards or Social Security numbers?

In fact, your entire online identity can be bought for $1,170 according to the Dark Web Market Price Index from Top10VPN, an independent VPN review site.

It won’t be long until summer, and many are looking forward eagerly to that annual summer vacation. For some, it’s worth waiting for, but for others it’s not worth overspending... and the fact is many Americans do.

An Experian survey found that 68 percent of people overspend on summer vacation, and 35 percent don’t save for it. You want to enjoy a vacation and know you’re not paying for it for years to come.

Some kinds of debt, such as home mortgages and education loans, are linked to better child well-being while unsecured debt like credit card balances and overdue medical bills are tied to increasing behavior problems, according to a U.S. study.

"Our findings underscore that debt can be both positive and negative, depending on what it is being used for and the price or cost at which it is borrowed, in terms of interest rates, fees, and the like," said lead author Lawrence M. Berger of the Institute for Research on Poverty at the University of Wisconsin-Madison.

With the holidays rapidly approaching, many couples are faced with an increase in spending. We all know money doesn’t grow on trees, especially during this season. Moreover, in today’s economic climate, many people are funding their holiday shopping with credit cards, causing them guilt and numerous financial resolutions come January 1.

No matter what stage you are in a marriage, the amount of money needed to survive the holidays can rack up. Newlyweds may find themselves with additional gifts to buy for in-laws and double the amount of holiday dinners to attend.