When times get tough, big banks and auto companies have the government to bail them out. Kids have their grandparents.
Retirement
Scary Fact: 42 Million Americans Blindly Relying on Pensions
A lot of folks nearing retirement still have a traditional pension. But a new study suggests they don't know how to figure it into their plans. Here's a start.
The Falling Stock Market’s Evil Twin: The Falling Dollar
A sinking dollar may be great for parts of the U.S. economy but it sure is tough on certain investors and retirees. Here's how to deal with the fallout.
Hit by the Fine Print: Three Ways the Debt Deal Could Hurt Seniors on Medicare
Medicare turned 46 last week, but instead of celebrating its major accomplishment — keeping millions of older Americans healthy — it finds itself under siege. The program appears to have squeaked through unscathed in the debt …
Singles Have Significantly Less Saved for Retirement Than Couples
If you are on your own, you’re probably not saving enough for retirement. That’s the conclusion of a new study published this week by the National Bureau of Economic Research on retirement readiness from two researchers at the …
Why is the Government Accountability Office Recommending Annuities?
The Government Accountability Office is supposed to be a government watchdog: keeping an eye on public funds and looking out for self-dealing, all while making sure that the taxpayers are getting a fair shake.
The 4% Myth: Where the Wisdom on Retirement Goes Wrong
The conventional thinking on spending money in retirement isn't really true.
Why It’s So Hard to Fix the 401(k)
A few years ago, policy wonks, retirement experts and politicians came up with what they thought was a great way to fix the 401(k) system: automatic enrollment. So in 2006, they passed a law that allowed businesses to put a …
Mortgage Giants Wells Fargo and Bank of America Opt Out of Reverse Mortgage Business
At the height of the real estate market, I recall driving past a Bay Area billboard for an apparently conservative financial advisory firm that read something like: “Your home is not a retirement plan.” At the time, the …
Post-Recession Lingo: Need-to-Know Phrases for Today’s Consumers
Adding to the list of post-recession terms such as “unbanked” (individuals without checking or savings accounts), “anti-dowry” (student loan debt holding you back from getting married or buying a house), and “Groupon remorse” …
Everything You Need to Know About Consumers, Part II
In Part I of this consumer factoid extravaganza, we learned all sorts of weird info about spending habits, housing costs, and family expenditures. For the sequel, we’re dealing with moms, Mexicans, McDonald’s, men’s dwindling DIY skills, the earning power of maiden names, how using a cell phone can be a sign of poverty, grandparents …
Survey: More Americans OK with Mortgage Default, Likely to Be “One Flat Tire Away from Financial Disaster”
In a new survey, more than one-third of adults say they are now saving less than last year, and 33% have no emergency savings whatsoever. The numbers get scarier for African Americans and Hispanics: 54% and 47%, respectively, report no rainy-day savings and are “one flat tire away from financial disaster,” says the survey’s spokesperson.
