Justin Donald

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Steering clear of these mistakes will save you a lot of regret once you reach retirement age. Saving for retirement is one of the most important aspects of managing your finances, and getting started can be as simple as signing up for your company’s 401(k) program. But while setting aside money to live on after you retire from work may seem straightforward, there are definitely still some mistakes you can make along the way.  Some of those mistakes may have little to no effect on your overall savings strategy, but others — like putting off saving too long in favor of other goals or following a plan ill-suited to your unique situation — can have a major impact on the amount of money you’re able to save or the amount of taxes you’ll have to pay once you’re of retirement age.  To provide some guidance and shed light on the do’s and don’ts of retirement savings, the financial experts of Kiplinger Advisor Collective each discuss one thing someone should never do while saving for retirement, and why doing so can ultimately derail your success.

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Holding on to these beliefs could be holding you back from realizing your dreams. With high interest rates and even higher housing prices scaring many people away from the  thought of purchasing a home any time soon, strong narratives and beliefs around home buying in general continue to swirl around the cultural conversation. While some believe they’ll never be able to afford a home, others believe it’s the ultimate end goal and indicator of true financial success.  Though every person’s situation is unique, there are some common misconceptions people have about home buying that may be holding them back from realizing their true financial potential. Here, the financial and investment experts of Kiplinger Advisor Collective discuss seven of those misconceptions as well as the real truths behind these common beliefs.

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Here are three strategies to keep in mind as you embark on your path to wealth accumulation and financial security.

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Here’s why technology can be one of the best guides for your financial journey. In the vast world of finance, there are plenty of resources claiming to help educate you, guide you toward the quickest path to wealth and set you up for a financially stable retirement — with some of those resources more helpful than others. However, some of the most useful tools in finance, especially today, involve technology. From simple budgeting apps to online banking to AI chatbots and robo-advisers, technology has the potential to act as a powerful tool and guide on your wealth-building journey. But while technology and tech-based financial tools continue to improve and grow more advanced each day, some people remain skeptical of using tech to manage something so important to their lives. Others simply aren’t aware of the benefits these platforms and tools can provide them with. Below, six financial leaders and members of Kiplinger Advisor Collective share their expertise by outlining some of the ways in which leveraging financial technology and tools can help you not only improve your financial management but your overall financial literacy as well.

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Taking a few key steps can help you both better understand and utilize your employee benefits. Employee benefits can be a big draw for job seekers looking for companies that will care for their employees well beyond their paychecks. Whether it’s a good employer match on your 401(k) contributions, employer-covered healthcare or unlimited paid time off, different employees find value in different benefits, but a well-rounded benefits package — often paired with a competitive salary — can help companies attract the best talent in their respective fields. But despite the initial draw of quality benefits, many of these benefits go unused or are improperly utilized. In fact, according to the Bureau of Labor and Statistics, an employee’s benefits make up nearly a third of their total compensation — meaning employees could be missing out on a significant portion of their total pay.  To ensure you’re taking full advantage of your employee benefits, it’s important to first ensure you have a clear grasp on what they entail. Below, the financial experts of Kiplinger Advisor Collective suggest practical steps anyone can take to not only understand their benefits package but also make the most of what their company offers.

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Oh, the dreaded financial emergency. It crops up when you least expect it — usually late on a Friday, right? That’s when our options for resolving the issue are the most limited, whether its air conditioning on the fritz (an especially big concern during all these heat waves) or a plumbing disaster. We’re left scrambling to both secure expert help and pay for it. Or maybe you have an unexpected medical bill or lose your job. What can you do to make ends meet? While there’s no way to know what’s going to happen or take steps, beyond the usual preventive ones, to head it off, you can at least be prepared in other ways. To find out what our options could be during a financial emergency, we at Kiplinger.com asked some of the financial experts among our Building Wealth contributors and Kiplinger Advisor Collective members to answer this question: How can I best prepare for unexpected financial emergencies, such as job loss, medical bills or major home repairs?

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Here are a few tax implications to consider as you dive into investing.

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Investing can be a risky business, but with the right strategy, it doesn’t have to be.Naturally, any investor hopes for high returns on their investments. However, achieving those high returns can often involve setting aside one’s usual tolerance for risk and making a move which could pay off big or could result in big consequences. Conversely, managing your risk may mean making investments that will provide a lower return but will also provide you with a sense of stability and steadiness helpful for building a secure future. But making money as an investor doesn’t necessarily have to involve major risk-taking. What’s needed is a balance between the desire for high returns and the need for safe portfolio diversification and risk management.  To achieve such a balance, consider the following advice from the financial and investment experts of Kiplinger Advisor Collective. Below, they offer up their best tips for making money while maintaining a strategy that helps you avoid unnecessary risks.

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Deciding how to invest in real estate can sometimes seem complex and overwhelming, especially when you don’t know what’s hot and what’s not. So we at Kiplinger.com asked some of the financial experts among our Building Wealth contributors and Kiplinger Advisor Collective members to answer, in a few sentences, this question: What is one current trend in real estate investing, and how can investors take advantage of it? Their responses range from checking out online real estate investing platforms, to exploring tax-advantaged qualified opportunity zones, to keeping an eye on the debt issues of commercial real estate. Or maybe you might be interested in owning some rental property that you can also use as a vacation home. Wherever your real estate interests may lie, there’s bound to be a tip here that could snag your interest.

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Here are a few ways investing can keep you on track to achieve the life you envision, not one that happens to you while you’re chained to a desk.

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Whether you’re a seasoned investor or just dabbling in the financial world, you’re likely looking for the “next big thing” to put your money toward. There are a number of promising opportunities to choose from, but as financial leaders and advisers in this space, the members of Kiplinger Advisor Collective suggest that these eight sectors have high growth potential now and in the future. From sustainable options such as green energy to evolving technologies such as artificial intelligence, these sectors are growing in both popularity and necessity — meaning early investments now could equal major returns later on.

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While graduating from school is a major milestone in your life, it's not the last big step you'll take in the months ahead. Preparing yourself for your future can take any number of pathways depending on your specific goals. But whether you'll be buying a new car, saving up for a home or delving into the stock market, there are a few key financial steps you can take that will help you achieve success. As noted leaders in the financial space, the members of Kiplinger Advisor Collective recommend taking one or more of the following actions with any money you may have received as a graduation gift. Doing so will help you start adulthood—and your financial future—off on the right foot.