Ultra-low interest rates brought on by the 2008 financial crisis have been great for borrowers, but they’ve been a nightmare for retirees who depend on low-risk yield on savings to meet living expenses. Over the past several years, many retirees living on fixed incomes have been forced to cut expenses, eat into principal or rely [...] [...more]
Retirees counting on low-risk interest rate investments for income could get some relief over the next 12 to 24 months, argues Barry Glassman, president of Glassman Wealth Services. Pointing to the recent jump in interest rates, Glassman thinks rates could continue rising over the next 12 to 24 months, setting the stage for much more [...] [...more]
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 [...] [...more]
CBS MoneyWatch.com contributor Charlie Farrell offers up a simple ratio for gauging whether you’re saving enough for retirement: a capital-to-income ratio. At a 2-to-1 ratio, he argues, the power of compound interest can take you to a reasonable goal for a secure retirement. The formula comes from Farrell’s book, Your Money Ratios: 8 Simple Tools [...] [...more]
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 [...] [...more]
