We’ve all seen the studies – one seems to land on my desk once or twice a week. “Americans are living longer.” “Fewer have defined benefit pensions.” “The value of Social Security is shrinking.” “Boomers don’t have enough money to retire comfortably.” “A retirement crisis is looming.” Just a couple recent data points: –Working American [...] [...more]
Most retirement planning exercises begin and end with a simple question: How much income will you need to replace after you quit work? But looking at income alone isn’t enough, as spending habits change during retirement — you’re no longer paying FICA taxes, saving for retirement or incurring work-related expenses for clothing and transportation. And [...] [...more]
Okay, folks — it’s time for a Personal Finance 101 quiz. Please answer the following three questions: 1. Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After five years, how much do you think you would have in the account if you left the money to [...] [...more]
You’re young and lucky enough to be gainfully employed, but it’s a hard time to be starting out in life – the job market is perilous, financial markets are volatile and the housing market’s direction is anyone’s guess. Is this any time to be thinking about saving for a secure retirement? Absolutely. Top retirement experts [...] [...more]
At a time when retirement security has eroded, a plan for retirement has never been more important–especially for middle-class families who might be facing deficits in retirement savings, sharp declines in the value of their homes, and unforeseen loss of income from employment. Do-it-yourself planning certainly is an option, but a little help from a [...] [...more]
