Retirement News

Older couple sitting with papers and considering bankruptcy

Retirees and Bankruptcy

People are supposed to relax when they retire, not worry about financial problems. Studies show that a lot of retirees turn to alcohol for debt relief, but there is a better way than booze:  Bankruptcy. The mere word makes a lot of people cringe, especially people over 65. They were raised in an era that […]

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myRA Account is my retirement account

MyRA Account Starting Point For Retirement Savings

The United States government is opening the door to retirement savings for the millions of Americans who have nothing invested there, but a word of caution if you go inside: There’s not much to see. The federal government is offering a retirement account – called myRA – that has no fees, no minimum balance, no […]

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Jar full of coins intended for a 401K savings plan

Employers Up The Ante On 401k Plans

There is a new twist on the ages old discussion about how much is needed for retirement savings: Employers – not employees! – are taking the initiative. The Vanguard Group, an investment management company, said that 36 percent of the companies it works with have implemented plans that automatically enroll their employees in the 401(k) […]

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Large cost for education

Workers Put Paying For Child’s College Ahead Of Retirement Savings

American workers have found another escape hatch to avoid contributing to their retirement savings and at least 33 percent of them say they would voluntarily take it. The LIMRA Secure Retirement Institute released a study that said one-third of U.S. workers already have reduced or would be willing to reduce contributions to retirement savings to […]

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Rent Or Own Your Home In Retirement

Key Retirement Question: Rent Or Own?

There are 10,000 Baby Boomers retiring every day for another 14 years, which means a lot of people have a choice that will have a monumental impact on their retirement: Rent or own? Wait a minute. Didn’t they settle that question 20 or 30 years ago? Yes and home ownership was a runaway winner. The […]

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Senior Student Debt

Social Security Checks At Risk As Seniors Take On Student Loans

Wanda Russell had just turned 50 when her bosses told her she would have to go back to college and get a bachelor of nursing degree to keep her job. Russell gulped. Back to college? At this stage of my career? Russell was an assistant nurse manager for operating rooms at Orlando Regional Medical Center […]

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Baby boomers have enough to retire

Baby Boomers Better Prepared for Retirement than Previous Generations

A new report says that most baby boomers have successfully stuffed enough pennies into the piggy banks – and dollars into the 401(k) plans – to retain their status as the most pampered generation in America, even in retirement. Americans have put away $18.5 trillion for retirement in 401(k) contribution plans and defined benefit pension […]

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Signing Will

No Cash for a Will? Leave a Fond Memory Instead

As a growing number of retirees come to grips with their dwindling cash flows to leave as inheritance, many are turning to other ways to preserve their memory for future generations. Gone are the days that an inheritance means a big windfall for the remaining family members. The shoddy economy has taken a big chunk […]

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teen taking money

Teens Are Counting on Parents to Finance Retirements, Study Shows

Attention moms and dads: your teens are counting on you for more than a few bucks for a movie or some new clothes. They’re depending on you to pay for their retirements too. About 40 percent of young Americans aged 13 to 22 are expecting an inheritance and believe they don’t need to save for […]

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Retirement photo

Study: Almost Half of Americans Die Poor

A recent study found that nearly half of all Americans live comfortable lives during retirement but die with little money in the bank. According to the nonprofit National Bureau of Economic Research, 46 percent of retired Americans die with $10,000 or less in savings. But they have a relatively high standard of living because of […]

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