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100 percent stocks can be a risky investment strategy - unless you're young and can handle the ups and down of the market for a decade or two. Does that sound like insanity? Or even irritational exuberance? It certainly hits at both. But based on the numbers, investing 100 percent in stocks until your 40 really can be the best investment strategy for young people. The long-term trend is clear that stocks rise over the decades, even if they have a few bad years along the way. If you're under 40, you have enough time to capitalize on the long-term uptrend, as well as to ride out the inevitable declines along the way. Capitalizing on the long-term trend Between 1928 and 2016 the S&P 500 had an average return of right around 10 percent. Few asset classes of any kind have come that close for so long. Meanwhile, the 88-year time frame covers a healthy human life span. In even given decade, stocks can and do crash. If you have no more than a decade to plan for, you certainly...

Traveling abroad is an exciting experience, but knowing how to handle your finances when you're over there is important for a smooth trip. Here are 5 tips for traveling abroad. Are you planning an international trip? You might think it'll be easy to pay for everything with your credit or debit card - after all, we live in the age of convenience. But paying with plastic isn't always the best choice when it comes to convenience and safety. Not to mention what it could cost you in fees. Read these five tips before you get to the airport and you'll be rewarded with a cheaper, easier travel experience. 1. Get a credit card with no foreign transaction fee You've probably thought about getting an international roaming plan for your cell phone, but have you considered whether your credit cards are optimized for overseas use? Credit cards have different features, perks, and fees. You may already have a couple cards in your wallet, they may not be the best ones fo...

Your credit stays yours, even after you get married. But, your credit score still affects your partner, especially if you want to apply for a mortgage. Here's everything you need to know about couples' credit. My husband and I run our finances like a well-oiled machine. We know our roles, share our goals, and both have credit scores over 800. We're looking to buy our first home in 2018, and things couldn't be better. But it wasn't always this way. When we got engaged and decided to combine our finances, I came across something shocking -- my finance had no credit score. He didn't just have a low score, but literally had no credit history to speak of. He had spent his entire adult life paying for everything with cash or a debit card, and had never taken out any kind of a loan or applied for a credit card. I explained to him that credit score factor into more than just whether or not you're approved for a loan. A poor credit score can affect your j...

As usual, there are retirement plan changes in 2018. Income limits and deductibles have gone up - benefiting most. Here's all the changes you need to be aware of. The beginning of a new year is once again ushering in changes to IRS retirement plan regulations. It's mostly good news, since the changes are predominantly in taxpayers' favor. Here's a rundown of the changes that will apply for 2018. 401(k), 403(b), and most 457 Plans, and the Federal Thrift Savings Plan (TSP) The annual contribution for employer-sponsored plans is increasing from $18,000  in 2017, to $18,500 in 2018. The catch-up provision for taxpayers 50 and older remains unchanged at $6,000. The total maximum contribution by older taxpayers effectively increases the $24,500. Changes with IRA plans The basic contribution of $5,500 is not changing, nor is the catch-up provision of $1,000 for taxpayers over 50 and older ($6,500 combined maximum). Contributions to a SIMPLE IRA also remain unchanged, at...

Fuel costs have been fluctuating recently -- if you're looking to save money at the pump, check out our picks for the best gas rewards credit cards. At some point we've all complained about the price of gas. And I can't tell you how many times I've heard my grandparents and even my parents talk about how upset they were when the price of gas went up over a dollar - how times have changed. While I don't have the answer to how to get older generations to stop boring you with stories about how much cheaper things used to be, I can share a simple way to save at the gas pump: consider a cash rewards credit card that offers cash back at gas stations. Best Gas Credit Cards Discover it Chrome Like all Discover cards, you get one percent cash back on all purchases with this card. That gets bumped up to two percent at gas stations and restaurants up to $1,000 in combined purchases each quarter. At the end of your first year as an account holder, Discover will matc...

Cashback and rewards apps are the new rewards cards, which were the new coupons. These apps are changing the way consumers shop and save. Here are our top 10 favorites. As kids, many of us saw our parents clipping coupons and taking advantage of sales to help save money. Even if your parents weren't expressly focused on saving at the grocery store, their financial decisions would have helped your family thrive through the thick and thin. Today, clipping coupons is not realistic. It's time-consuming, and one could also argue that coupons are a waste of paper. In most cases, flyers and coupon books barely make it through the door before being thrown into the trash or recycle bin. If ten years ago, we were obsessed with rewards cards like Air Miles, today, we see those rewards shift to the smartphone and mobile platform. Cashback and rewards apps are the new rewards cards, which were the new coupons. These apps are changing the way consumers shop and save. Why you shoul...

Did you just come across some extra money? If you manage your windfall correctly, you could pay off most of your debt quickly. Here's our step-by-step guide to getting it right. Have you ever read a follow-up story about someone who won the lottery? They're almost always tragic tales of someone given an opportunity to change their life -- only to throw it all away by mismanaging their winnings. In many cases, the lucky individual actually ends up in worse financial shape than they were before hitting the jackpot. That's because receiving a windfall is a double-edged sword. It can give a false sense of financial invincibility, leading you to make irresponsible choices you would never consider otherwise. Eventually, those can turn into expensive habits and an unsustainable lifestyle. The key is to have a solid plan from the start. The same principle holds true even for small windfalls. There's nothing wrong with treating yourself after receiving a year-end bonus or inh...

Heating costs getting you down this winter? Can't afford those snow tires? Is your electric bill too high? Here are seven tips to save this winter. For those of us that live in northern climates, winter still seems to catch us off guard, no matter how many times we've endured the snowy season. Every year, the cold rushes in suddenly. The night gets darker sooner and, reluctantly, we turn on our heaters and break out our heavy jackets and boots from the back of our closets. Perhaps one of the most unpleasant parts of winter is the sudden added expenses -- heat, new car tires, days off from work during storms, and higher electric bills thanks to the long nights. Here are a few tips to help you trudge through the winter with less of a financial burden: 1. Rent an apartment that includes heat (or live on the upper floors) Renting an apartment that includes heat can save you a little bit of money. Of course, the cost of heat is incorporated into the rent, but if you're th...

Most of us have that one category that's difficult to keep in budget. Taking 21 days to consciously cut spending in that one area can help change your habits and get your spending under control. Give it a try! What is the ONE thing that you spend too much money on? For me, it's clothes. I love a good old-fashioned shopping trip. In fact, I have be intentional about not browsing online because clothes are my weakness. It takes great commitment and it's not perfect, but it's something I constantly work on. I'm here to challenge you to spend less on your weakness for 21 days. By cutting out your weakness for 21 days, you'll reset your spending patterns. This can be a great way to get back on track financially -- especially if you're spending too much in one area of your life. The rules Choose one thing to spend less on for 21 days. Spending less means that you don't have to cut out your spending completely, but you should make a challenge for yourself. ...

The people you hang out with the most have a huge impact on how you live your life and the choices you make. Here are a few ways they affect your career and your financial situation. It may not seem polite to consider the impact of friends on your finances and your career, but there's definitely a connection. This connection is more important in your 20s and 30s since choices are made and attitudes are established that can determine your future success or failure. Let's look at specific ways that your friends affect your finances and career. Your friends and your career If your friends have strong career aspirations, you probably do as well. It's probably part of the reason why they're your friends. But if your friends have little or no career aspirations, there's a very good chance that you won't either. Part of this is because we all seek approval and affirmation from our friends -- that is, we  all want to be a part of the group. That need for acceptance...

Paying for graduate school is an expensive task, but with federal aid, state and university funding, and private loans, you can get your dream degree without worrying too much about cost. Going to graduate school is an exciting, yet costly, endeavor. But, like it or not, many of the best jobs today require some sort of advanced degree. In this article we'll discuss the best loans, grants, and other alternatives to pay for your continuing education. Cost-Benefit Analysis Before you consider going to graduate school, you'll need to decide if an advanced degree will be worth the hundreds of thousands of dollars you might be spending to get it. Graduate school isn't the same as undergrad when it comes to financing - you won't be reliant on your parents' income to fill out financial forms. So how do you do a cost-benefit analysis (CBA)? First you'll want to understand how much your degree will cost. In general (it varies from school to school) a medica...

The national credit card debt reaches record high, reports the Federal Reserve. If you're one of the many burdened by credit card debt, we have some tips to help. Consumer credit card debt in the U.S. has reached a new high, according to the numbers released by the Federal Reserve. And while jumps in credit spending normally tied to increased consumer confidence, bigger balances can also mean growing interest costs for everday credit card users. The Fed's reports shows a total of 1.02 trillion in revolving balances nationally, or an increase of about 13.25 percent since last year. This follows a pattern of steadily rising annual balances, doubling the 6.6 percent jump recorded in 2016. If you find yourself a contributor to this growing debt, and are looking to distance yourself from it, there are a number of routes you can take to reduce your balance. Use a 0 percent APR credit card One of the most popular ways to curb interest exposure on existing debt is to transfer you...

Applying for a credit card can seem like a gamble, but there's a lot you can do to improve your odds at getting approved. Check out these 5 tips to ensure you get the credit card you want in your wallet.  Applying for a credit card can feel like a gamble. Credit card issuers don't share their approval criteria, and there's no guarantee the credit score you see when you check is the same one they see. 1. Know your credit score Every credit card has some sort of credit requirement to get approved, so you can't just apply for any card. Knowing where your credit stands is important to make sure you don't get declined for a card that you don't qualify for. If you don't already have an account with a credit monitoring service, you can start by estimating your credit score to get a ballpark range. If you want to zero in on or more definitive figure, sign up for a credit monitoring service to get it. Once you know your score, find out which range it'...