Renée Hirshfield didn’t expect to tap her retirement account to pay for her daughter’s college tuition. But when she opened the bill for Sarah’s junior year at Mount Holyoke College, sticker shock set in. “She had been getting a fair amount of financial aid, but there had been a slight spike in my income the [...] [read full article…]
Social Security’s do-over option may be sharply curtailed under new regulations proposed by the federal government, according to Mary Beth Franklin of Kiplinger’s. Few people know it, but Social Security allows you to change your mind after you’ve filed for benefits. Say you file for benefits at age 66, but decide a few years later [...] [read full article…]
Everyone should have some cash set aside for emergencies, although the amounts vary depending on whether you’re working or retired. But with today’s rock-bottom interest rates, how can you squeeze bit more yield from your cash reserve–without taking inordinate risk? Christine Benz of Morningstar.com talks about where to stash your cash to get higher yield [...] [read full article…]
Social Security was signed into law 75 years ago this month by President Franklin Delano Roosevelt. Today, it is the most important component of retirement security for most Americans. Unlike our damaged system of private pensions, Social Security is efficient, reliable and stable. But rather than celebrate Social Security’s successes at this milestone anniversary, many [...] [read full article…]
Are young investors taking the wrong message from the 2008 market meltdown? Financial experts usually advise young retirement investors to be aggressive, socking away as much money in stocks as possible. But recent investor data suggests that young investors have become very risk averse–no surprise, given lousy market performance over the past decade. I’ll be talking [...] [read full article…]
