Wondering why Americans haven’t accumulated more wealth in 401(k) accounts? Here’s one good reason: nearly half of people who changed or lost jobs last year cashed out of their accounts on the way out the door. A study by Hewitt Associates reveals that 46 percent took cash out of their accounts on their way out the [...] [read full article…]
Tim Will and his wife Eleanor moved to rural North Carolina a few years hoping to pursue a decades-old dream to become organic farmers. Tim had spent his career working for big telecommunications companies as a systems analyst, and more recently had taught history and geography in an urban Miami high school. They picked Rutherford [...] [read full article…]
A new study reveals a substantial jump in the percentage of Americans who won’t be able to maintain their standard of living in retirement in the wake of the economic crash. The Center for Retirement Research at Boston College (CRR) says 51 percent of Americans are at risk of lower living standards in retirement, up [...] [read full article…]
A recent IRS ruling opens up a new window for investors to suspend their required minimum distributions (RMDs) from retirement plans and IRAs this year. RMDs were suspended for 2009 under legislation intended to provide relief to investors battered by the market crash. The idea was not to force investors to pull funds while holdings [...] [read full article…]
The number of unemployed Americans over age 65 who want to work but can’t find a job is at the highest level since the Great Depression, according to The New York Times. The jobless rate for older workers remains lower than the national average, but there’s been a fivefold increase in the number of 65+ [...] [read full article…]
