Retirement

Payday Cash is Not the Only Concern When it Comes to Saving

Payday cash is a priority with Americans now that the recession is over. In particular, they are focused on saving money for retirement. The recession taught people that credit isn’t a reliable emergency account to rely on in times of trouble. Many credit lenders closed their doors when the recession was at its height and
Social Security Card

Loophole for quick payday from Social Security closed

Recently, Congress closed a loophole in Social Security that some people were exploiting for a quick payday. The loophole allowed the well off to get more instant cash out of the system than they would have otherwise. The government was not amused and closed the loophole. Quick payday loophole in Social Security Some people are

Roth IRA may not be best decision for fast cash in retirement

Why to convert back Many people looking for fast cash converted their IRAs into Roth IRAs. The move may have been a quick one and now some consumers are rethinking the decision. The value of a Roth IRA can be considerably lower than its former value due to the conversion and the taxes that can

Understand Your Retirement-Plan Choices

Many different kinds of retirement plans are available Many people are unaware of the different types of retirement plans available to them. While most are familiar with the basic plans offered through their employer, few know much about additional plans they may still be able to invest in. Self-employed people in particular find themselves wondering

Seniors in Need of Money Now are Worried about Social Security

Social Security benefits are crucial Senior citizens needing money now are worried that Social Security benefits won’t be around for much longer. Studies show that Social Security benefits make up for about 40% of retirees’ income. It’s no secret that many Americans have come to rely on the benefits to pay their monthly bills. Without
401K

Fewer people financially confident about entering retirement

The number of people who feel financially confident about entering retirement are an increasingly small portion of the population. Falling real estate values and a volatile stock market have made soon-to-be retirees fairly nervous. To make matters worse, energy prices could be due for a large increase, and politicians may be gunning for Social Security.
Salt Flats

Estimates project Social Security will run out of cash by 2037

New estimates project that Social Security will run out of cash by 2037. The estimates, from the Congressional Budget Office purport that Social Security will run a deficit until 2037, when the trust fund will be completely depleted. Recent tax cuts already have given advance cash out of Social Security revenue. Constant deficits projected for

Retirees May Need Personal Loans in Addition to 401(k)s

Using a 401k account Consumers may need personal loans to manage through retirement if they aren’t careful with their 401(k) accounts. A 401(k) account allows a working person to save for retirement, invest the savings and defer taxes until after retirement when, in most cases, the account holder’s income will be subject to a lower
a savings credit score could increase the U.S. savings rate

Idea to incorporate savings rate into credit scores wins $50,000

Earlier this year an asset management company announced a contest for the best ideas to increase the U.S. savings rate. The winner of the $50,000 grand prize suggested a “Savings Credit Score” that factors savings into a person’s credit score. A FICO spokesperson praised the idea but said current credit scoring models made it impractical.
taking social security early

More Americans get shortchanged by taking Social Security early

A growing number of Americans are choosing to take Social Security early. Some baby boomers have been forced to take Social Security early because of losing jobs and spending savings during the recession, while others are compelled to collect Social Security before the program goes bankrupt. Retirement planners say fears of Social Security bankruptcy are

Saving Emergency Money for Retirement Can be hurt by Job Hopping

Hopping from one job to another can lead to future financial dilemmas, such as a faltered retirement plan. It’s not always easy to remain at one job for numbers of years due to many different reasons. But taking a hard, close look at the possible outcomes of job-hopping and the general aspects of it can

72% of Workers Not Ready to Retire

Today, lots of people over age 60 are saying they’ll never be able to retire. Lots, however, is one thing; seventy-two percent is quite another. According to a new survey conducted by CareerBuilder, 72% percent of workers over age 60 are now delaying retirement because they cannot afford it, and need more time to come

Consumers use cash advances as employers take over the 401(k)

401(k) laws are changing Consumers are using cash advance loans because their 401(k) accounts are being handled by their employers. A new study is showing that there is a new trend in the world of retirement accounts. Barclays PLC’s Barclays Global Investors are now telling employers to automatically build savings for their workers by putting
A man seated at his retirement party.

Working past retirement is good for your health

Some people look forward to retirement at 65 as the time when they’ll finally be able to focus entirely upon the things they want to do. However, retiring at age 65 may be a thing of the past, suggests the Los Angeles Times. According to geriatrician Dr. Katherine Schlaerth of the USC School of Medicine,