Many of us are like Bill Murray’s weatherman in the movie Groundhog Day, when it comes to managing our own money. We’re searching for a way to break through repeating the same financial mistakes and reckless habits.
“The situation is extremely serious because baby boomers have not saved very effectively for retirement and are still retiring too early,” said Olivia Mitchell, director of the Boettner Center for Pensions and Retirement Research at the University of Pennsylvania.
It’s unusual to feel financially well prepared for retirement. That’s due partly to the poor performance of stocks over the past decade. But mostly it’s due to not socking enough money away.
It took guts and good planning to decide to retire in the middle of the deepest recession in decades. Even so, those who did felt flickers of self-doubt when the stock market crumbled around the time they banked their final paychecks.
Paul Skidmore’s office is shuttered, his job gone, his 18-month job search fruitless and his unemployment benefits exhausted. So at 63, he filed for Social Security benefits, three years earlier than planned.
It’s been a harrowing ride in the stock market lately. So much so that it’s prompted scores of investors to pull money out of the market and park it in bonds or other fixed-income assets.
Staying on track to a comfortable retirement isn’t only about taking care of your finances and your health. It might involve taking care of your parents, too.
By David Pitt DES MOINES, Iowa — What happens when the government considers tinkering with retirement accounts and asks for citizen input? It gets plenty. Government officials began...
By Linda T. Cammuso A Durable Power of Attorney (DPOA), sometimes called just a “Power of Attorney,” is a legal document that allows you to...
More than 7.3 million older Americans — one out of every five people over the age of 65 — have been victimized by a financial swindle, according to a new survey by Investor Protection Trust (IPT)