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Wednesday, August 5, 2020

Learn from Groundhog Day: Stop making these 5 money mistakes

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.

Baby boomers near 65 with retirements in jeopardy

“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.

Are you financially prepared to retire?

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.

Retiring on time despite the economic downturn

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.

Forced to retire, some take Social Security early

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.

Five steps to protect your 401(k) during market activity

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.

Tips to avoid financial strain with aging parents

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.

Government gets an earful on 401(k) proposal

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...

Durable Powers of Attorney: Not so durable after all?

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...

One out of every five older Americans are financial swindle victims

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)