Longest-Serving Macy's Employee Retires After 73-Year Career

Longest-Serving Macy's Employee Retires After 73-Year Career

Rose Syracuse went to work at Macy’s flagship store in Herald Square when she was nineteen years old, and she stayed there until she retired. That’s unusual enough to us today, but that’s before you learn how long she worked there. She began work at the department store in 1939. She retired earlier this week at age 92 after a 73-year career behind the scenes. [More]

Advocates: Now Is The Time To Reform Reverse Mortgages

Advocates: Now Is The Time To Reform Reverse Mortgages

A large chunk of the U.S. population is heading into what are supposed to be their golden years. But between financial hardship and shortsighted financial planning, many of these people are not able to retire comfortably, if at all. A reverse mortgage that allows homeowners who are at least 62 years old to borrow against the equity of their property may seem like a more appealing alternative to working into one’s 80s, but there are pitfalls involved — some of which can be fixed by a bit of reform. [More]

Thinking Of A Reverse Mortgage? Here Are Things To Watch Out For And Some Alternatives

Thinking Of A Reverse Mortgage? Here Are Things To Watch Out For And Some Alternatives

With a large group of Americans at or nearing retirement age — and with many of them having inadequate savings to last them through retirement — so-called “reverse mortgages,” wherein a lender converts the equity on a home into monthly payments to the homeowner, are being marketed as a financial cure-all to people wondering how they will be able to afford their golden years. But before anyone dives into the reverse mortgage pool, there are some thing worth pointing out. [More]

Retired Couples Need $240,000 Just To Cover Health Care Costs

Retired Couples Need $240,000 Just To Cover Health Care Costs

If you and your loved one are looking down the road toward living out your golden years together, be prepared to have a pile of cash stashed away to cover your medical bills. [More]

Your 401(k) May Actually Be Worth Something Again

Your 401(k) May Actually Be Worth Something Again

We know a lot of people simply stopped looking at their quarterly 401(k) account statements a few years ago, hoping and praying the market would eventually recover and they would someday see all that money lost when the economy went SPLLLAATTT!!. Well, it may be time to take a peek at your next statement, as the latest numbers show very positive signs of recovery. [More]

Making An Early Retirement Work

Making An Early Retirement Work

Some people are so obsessed with their work that they can never envision chucking everything to begin a life of leisure, while others have spent most of their work lives counting the days until they no longer have to clock in. If you opt to jump the gun and call it a career before you hit your golden years, you’re taking a calculated risk, hoping to make your savings stretch out longer rather than spending more time to build it up before you take the plunge. [More]

Leave The Workforce Without Sacrificing Your Retirement

Leave The Workforce Without Sacrificing Your Retirement

If you need to step away from your career for a while to stay at home with your kids or care for an elderly or incapacitated loved one, your automatic systems for saving for retirement will probably shut down. In order to make sure you don’t jeopardize your nest egg, you’ll need to make adjustments to account for your decreased savings power. [More]

Tips To Help New Investors Get Started

If you’ve just started investing, you’re bound to make a few mistakes as you find your footing. While there’s no guaranteed formula for success, there are ways to put yourself in the best position possible to start off strong and stick around for the long haul. [More]

What You'll Need To Do If You Want To Retire This Year

What You'll Need To Do If You Want To Retire This Year

If you’ve got dreams of permanently clocking out of the workforce sometime in 2012, now is the time to start plotting out your escape into retirement. Before you begin the transition, you’ll need to take an inventory of your assets and planned income, set some goals and put together a budget. [More]

Reasons To Retire To A Foreign Country

Reasons To Retire To A Foreign Country

Maybe you’ve always seen yourself running out the clock in Scottsdale or Miami, but if you want to make your retirement dollar stretch, you may want to expand your horizons. Some foreign countries cater to retirees with friendly tax rates and low cost of living, making them attractive alternatives to American retirement havens. [More]

6 Tips For Avoiding Early Retirement Seminar Scams

6 Tips For Avoiding Early Retirement Seminar Scams

The idea of retiring early — putting the workday behind you and living a life of leisure before you’re too old to enjoy it — is incredibly tempting and there is no shortage of not-so-nice people out there willing to stoke that pipe dream at seminars where smooth-talking speakers make it all seem so attainable. Alas, it’s not so simple and a lot of these seminars will do nothing but leave you with less money than you had beforehand. [More]

Your 20s Aren't Too Early To Worry About Retirement

Your 20s Aren't Too Early To Worry About Retirement

Although it’s tough to plan nearly half a century ahead, the moves you make now can greatly affect your outlook when it comes time to retire. Small sacrifices today can potentially pay off exponentially as the decades roll by. [More]

Are You Responsible For Bailing Out Your Financially Irresponsible Parents?

Are You Responsible For Bailing Out Your Financially Irresponsible Parents?

We often hear stories about beleaguered parents who continually dip into their bank accounts to keep their fiscally foolish offspring from ending up on Skid Row. But what about when the shoe is on the younger generation’s foot? [More]

Survey: Some People Think They'll Need To Work Until Age 80

Survey: Some People Think They'll Need To Work Until Age 80

An unforgiving economy combined with plundered pensions and worries about the sustainability of Social Security have apparently sucked some air out of the dream of retiring by age 65. According to a survey, a quarter of Americans believe they’ll need to keep clocking in until 80 in order to be able to save up enough to retire. [More]

3 Steps To Take To Plan Your Retirement

3 Steps To Take To Plan Your Retirement

Conventional wisdom advises you to keep your money in indexed investments and rest assured that market forces will grow your nest egg with double-digit returns, allowing you to coast into retirement with ease. But the recession and current volatile stock market can make you re-think your retirement strategy. [More]

More People Using 401(K) Funds As Piggy Banks

More People Using 401(K) Funds As Piggy Banks

Even though the economy has begun to demonstrate occasional signs of life, many Americans are still feeling the sting of those darkest days. Millions of homeowners are struggling to pay mortgages they can’t afford and those that have walked away from underwater loans now have battle-scarred credit reports. So in order to stay afloat, more consumers are taking loans from their own retirement savings. [More]

Bill Aims To Stop People From Using 401(K) As A Piggy Bank

Bill Aims To Stop People From Using 401(K) As A Piggy Bank

A recent study found that a record number of people (around 28%) with 401(k) retirement funds had loans (averaging $7,860) outstanding on them in 2010, meaning that these same folks will not have as much money set aside when it does come time to retire. That’s why a pair of Senators have introduced legislation that would make it more difficult for people to tap their 401(k)s. [More]

Decisions You Need To Make About Retirement

Decisions You Need To Make About Retirement

At some point, whether by your own choice or that of those who pay you, you’re most likely going to have to call it a career and move on to a life of shuffleboard and early-bird specials. [More]