How hard has the Great Recession hit young adults in the U.S.? According to a report released Thursday by the Pew Research Center, only 54.3% of young adults aged 18 to 24 have a job. It’s the lowest rate since the government …
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Retirement
Behind the Hype: The Myth of Flexible Work Hours
In an always-on wired world, much has been made of the flexible work schedule. It let’s young people get their job done from the beach, or at midnight; allows middle-aged employees to take a leave to, say, care for an ailing …
Dividend Stocks Are Hot, But They Aren’t Bonds
The search for retirement income in today’s low-yield environment inevitably comes back to dividend paying stocks. How could it not? Money market funds and short-term bank CDs pay about .5%; the 10-year Treasury bond pays only about 2%.
End of an Era: Iconic Greeters Reassigned at Walmart
Say goodbye to the iconic Walmart greeter, who came to symbolize the plight of under-saved retirees in need of a lifeline.
Finally, A Convenient Way to Get Income for Life: Feds Push A New 401(k) Option
With traditional pensions disappearing, securing reliable low-cost lifetime income for retirees has emerged as a top issue among financial planners and policymakers. Finally, a solution is in sight. The federal government has issued new regulations designed to encourage two important changes:
- Allow 401(k) plan participants to easily
…
Pension Income Is Guaranteed, Right? Yes, But …
As if we needed another reminder that our safety net is threadbare, AMR Corp., the American Airlines parent company, says it will shut down pensions covering 130,000 employees and retirees as part of a reorganization in …
Personnel Finance: Productivity Down, Employers Target Debt Stress
Financial education advocates point to three primary places to reach those who need help with their money: in schools, the point of sale, and at work. A debate rages over the first two. But efforts to educate employees at the …
Is a Busy Retiree a Happy Retiree? It Depends …
Experts have repeatedly pointed up the salutary effects of staying busy in retirement, arguing that activity confers physical and mental benefits and leads to greater happiness. But it isn’t necessarily true.
Why Seniors Don’t Deserve the Senior Discount
On average, citizens who earn the most money and have the most net wealth are 50 and over. So why is it this group that’s entitled to discounts at the movies, supermarkets, hotels, and nearly everywhere else you turn, while the …
The Lessons of Mitt Romney’s IRA
Mitt Romney may have made the classic IRA mistake: holding low-tax investments inside a tax-favored account. His IRA strategy isn’t clear, of course. Romney continues to guard his personal finances. But details are trickling …
Cash Back: Banks Battle for Your Rollover IRA
Your 2011 tax documents are beginning to arrive in the mail, signaling the start of another tax filing season. Right on cue, financial firms are in a spending battle to win the business of anyone considering an IRA rollover as …
8 Celebrity-Endorsed Financial Products We Wouldn’t Buy
Athletes, actors and other famous folks lend their recognizable faces to promote all sorts of products, from breakfast cereal to basketball sneakers to prepaid debit cards (see Suze Orman). But a celebrity endorsement is, of …