Three months after President Obama’s inauguration, one phrase from his speech on the steps of the Capitol comes back to me often: “The time has come to set aside childish things.” That line, which quotes loosely from 1 Corinthians:13 in the New Testament, refers to our collective need to wake up to the realities and [...] [read full article…]
A growing list of employers have reduced their matching contributions to workers’ 401(k) accounts as they struggle to preserve cash in the recession. But here’s how bad it’s become: Even AARP has suspended its 401k match for the rest of 2009. When the nation’s most prominent defender of retirement security stops matching employee contributions, you [...] [read full article…]
Barbara Parks stumbled onto a way to do well by doing good. Divorced in her early 60s and ready for something new, she drove from her home in Minnesota to resettle in San Francisco, where her two sisters lived. She expected to look for work in career counseling, the field she’d worked in for 15 [...] [read full article…]
The reverse mortgage market is growing sharply due to provisions in the economic stimulus bill, according to the Los Angeles Times ,which cites Federal Housing Administration data showing a 17 percent increase in the number of loans the agency insured in March. The recently signed economic stimulus bill temporarily lifts the limit on the size [...] [read full article…]
Social Security beneficiaries enjoyed a 5.8 percent cost-of-living (COLA) increase this year, but that was a fluke based on a temporary spike in inflation in the third quarter last year, the period that is used to set the following year’s increase. New projections from the Congressional Budget Office suggest that no COLA is likely from [...] [read full article…]
